Lucid said it built 2,954 vehicles in the quarter ended September 30 and delivered 3,806, below a Wall Street estimate of 4,687 units.

  • Lucid said demand for the company’s newer Gravity SUV continued to regain momentum, without a model split. 
  • Deliveries ran 852 ahead of production as it sold down inventory under an operating reset aimed at $1.4 billion of cash-flow improvement in 2026.
  • In contrast, both Rivian and Tesla beat Wall Street estimates for Q3 deliveries.

Shares of Lucid (LCID) stayed flat in after-hours trading on Monday after the company reported a sharp cut in third-quarter output and a year-over-year drop in deliveries, contrary to its peers Tesla and Rivian.

Lucid said it built 2,954 vehicles in the quarter ended September 30 and delivered 3,806, below a Wall Street estimate of 4,687 units, according to Visible Alpha data. Deliveries ran 852 ahead of production, the first time this year the company has handed over more cars than it made, as it sold down inventory under an operating reset aimed at $1.4 billion of cash-flow improvement in 2026.

The production figure was down 38% from 4,774 in the second quarter and about 24% from 3,891 a year earlier, in line with the June decision to drop a second shift at its Arizona plant. Deliveries fell about 4% from 3,953 in the prior quarter and 6.7% from 4,078 in the third quarter of 2025. Lucid said demand for the company’s newer Gravity SUV continued to regain momentum after production issues, without a model split.

A Different Quarter At Tesla And Rivian

The same period looked steadier at the two larger U.S. electric-vehicle makers. Tesla delivered 486,532 vehicles, down 2% from a record 497,099 a year earlier but ahead of a consensus near 462,000. The Model 3 and Model Y accounted for 478,237 of the deliveries.

Rivian delivered a record 19,248 vehicles, up 46% from 13,201 a year earlier and about 58% from the second quarter, and built 19,751. The total topped estimates near 18,000 in the first full quarter of R2 sales. Rivian kept its 2026 delivery target at 65,000 to 70,000.

How Did LCID Retail Traders React?

On Stocktwits, retail sentiment around LCID stock stayed within bullish territory over the past 24 hours, while message volume stayed at normal levels.

A Stocktwits user said that the company’s quarterly deliveries are still “objectively substantial for an ultra-luxury EV manufacturer.” Unlike Tesla and Rivian, Lucid is yet to launch a lower-cost EV model.

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Another user said the company should announce a timeline for the company’s first cheaper offering, called Cosmos, at its earnings in November.

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LCID stock has fallen 61% year-to-date. 

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