Lucid Group (NASDAQ:LCID) Scores a Win in Deliveries

It was a great day for electric vehicle maker Lucid Group (LCID) as it posted a big win in terms of quarterly deliveries. It turns out that Lucid made a record number of deliveries in its fourth quarter, and is on track to make what is for itself a big splash in vehicle production. Investors were over the moon and sent shares up over 5% in Monday afternoon’s trading.

For 2024, Lucid delivered 10,241 cars, which proved to be a record in and of itself, noted a report from CNBC. The fourth quarter alone saw delivery of 3,099 vehicles, and the production of 3,386, which suggests production is just barely keeping ahead of delivery. A good sign overall, though a bit more margin might be helpful.

Still, Lucid ultimately created just over 9,000 vehicles in 2024, which was well behind deliveries, and suggests a clearing of inventory. With the 2024 numbers representing a 71% increase in deliveries overall, and a 7% gain in production, it would seem like Lucid is finding its footing in a market that some have abandoned outright. With Lucid ending its third quarter with $5.16 billion in total liquidity, that should keep investors reasonably pleased.

Blinking Grill LEDs Sold Separately

Fans of the 1980s action series Knight Rider, meanwhile, might be particularly happy with plans Lucid Motors recently announced. It is getting together with SoundHound (SOUN) to produce a “generative AI-integrated in-vehicle voice assistant,” noted a recent report from Telecom Talk.

The new program, known as the Lucid Assistant, offers “natural language commands and real-time information,” which will give drivers at least some ability to control functions in their vehicles with simple voice commands. A simple call of “Hey Lucid” opens up access to the car’s manual, real-time weather and stock information and more. Though if at least a dozen people do not try to find a way to convert “Lucid” to “Kitt” within the first two weeks of release, I will personally be amazed.

Is Lucid Stock a Good Buy Right Now?

Turning to Wall Street, analysts have a Hold consensus rating on LCID stock based on one Buy, six Holds and two Sells assigned in the past three months, as indicated by the graphic below. After a 9.87% loss in its share price over the past year, the average LCID price target of $2.91 per share implies 16.74% downside risk.

See more LCID analyst ratings

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