Lucid Group (LCID) Suspends Production Guidance Amid Business Review

Lucid Group (LCID) has suspended its vehicle production guidance for 2026, which was previously set between 25,000 to 27,000 units, as the incoming CEO evaluates operations. The company reported a first-quarter loss per share of $3.46 against an expected loss of $2.64, with revenue of $282.5 million, falling short of the anticipated $440.4 million. Lucid indicated a need to reduce its elevated inventory, having produced approximately 3,200 more vehicles than sold since 2024. The situation is compounded by supply chain issues affecting the delivery of its Lucid Gravity SUV, leading to a significant revenue impairment of over $200 million.