EV maker Lucid plans to adjust production, citing elevated vehicle inventories

The LUCID logo is shown at the LA Auto show "AutoMobility LA" in Los Angeles, California, U.S. Nov. 20, 2025. Mike Blake | Reuters DETROIT — Lucid Group plans to take actions to better align its production with customer demand for its luxury all-electric vehicles, the company said Tuesday. The EV manufacturer said it needs to lower its "elevated inventory" of vehicles, which for automakers has historically meant lowering or idling vehicle production. A company spokesman on Tuesday told CNBC that there is currently no plan to idle its sole U.S. plant in Arizona, but declined to reconfirm the company's prior production guidance of between 25,000 and 27,000 units. Lucid, in a release Tuesday, said it will take "further steps to align production with anticipated deliveries and customer demand." The company did not include the guidance in its release. The company has produced roughly 3,200 more vehicles than it has sold since 2024, according to its annual production and deliveries. That includes a difference of roughly 2,000 units last year and 2,400 vehicles during the first quarter of 2026. "We ended the quarter with elevated inventory that we expect to convert to revenue and cash as deliveries normalize, while maintaining alignment between production and sales cadence. Our focus is on disciplined execution — driving structural cost improvements, managing capital efficiently, and improving operating leverage as we scale," Lucid CFO Taoufiq Boussaid said in a statement. …