Cars: Lucid cut its production forecast for 2022 from 20,000 sedans to between 12,000 and 14,000, citing supply chain issues.
Lucid has delivered about 300 sedans since production began in the final months of 2021, but has built about 400 sedans in total. Lucid may have gotten off to a great start in 2021 with the much-anticipated version of the Air sedan, but there are choppy waves ahead.
The automaker revealed its fourth-quarter results this week, indicating that it has generated $26.4 million in revenue this year, of which $21.3 million came from the delivery of more than 300 Lucid Air sedans to customers among the more than 400 produced so far.
However, the automaker is now forecasting a significant drop in its production forecast for 2022, citing issues we've all been used to hearing in the industry over the past couple of years related to that.
"Looking forward, we are updating our view for 2022 production to a range of 12,000 to 14,000 vehicles," said Peter Rawlinson, Lucid's CEO and CEO. He added: “This reflects the extraordinary supply chain and logistical challenges we have faced and our focus on providing high quality products. We remain confident that we will be able to seize the huge opportunities in the future given our technological leadership and strong demand for our cars.”
Originally, Lucid planned to produce about 20,000 units of the Air sedan in 2022, after starting production last October at its plant in Casa Grande, Arizona. Given that, this number appears to have been very optimistic. The automaker was able to complete and deliver about 125 sedans in the last few months of the year, with a similar number delivered so far going into 2022, as we enter the third month of the year.