Part 2/12:
Notably, Lucid has announced price cuts of up to 18.8%, a clear sign of financial distress. Industry analysts like Ross speculate that Lucid might be exiting the market soon, possibly due to the Saudis' withdrawal of support. The company’s financials reveal a troubling trend, with significant losses totaling around half a million dollars per vehicle sold. Such losses are unsustainable long-term, reinforcing skepticism about Lucid’s future viability.
Furthermore, Lucid has introduced leasing options starting at $750 per month, which could indicate an effort to maintain sales volume despite financial strains. Promotions tied to price cuts, initially scheduled only until late July or August, might continue beyond those dates, suggesting a prolonged struggle for the startup.