Lucid's 2022 car production exceeded its lowered expectations

Lucid had lofty goals for 2022. It originally planned to build 20,000 vehicles during the year. But, due to supply chain issues and a shortage of parts, it had to revise down the target to between 12,000 and 14,000, and then again to between 6,000 and 7,000 units. Ultimately, though, Lucid ended up beating that annual guidance.

The automaker says it built 7,180 vehicles in 2022 and it delivered 4,369 of them. During the October-December period, it produced 3,493 vehicles (an increase of 53 percent over the previous quarter) and delivered 1,932. The company started delivering the Lucid Air in Europe in December.

We’ll find out more about what this means for Lucid’s bottom line when the company reveals its Q4 financial results on February 22nd. In any case, beating the annual guidance, even after it significantly slashed the target, is a positive sign that the automaker is overcoming its production issues. Meanwhile, Lucid will soon start taking reservations for its Gravity electric SUV, with deliveries slated to start in the US and Canada in 2024.