Electric Vehicles
Lucid Falls After Maker of Luxury EVs Misses Profit Estimates
A Lucid Motors Air Grand Touring electric vehicle at the company's showroom in New York.
Photographer: Jeenah Moon/BloombergThis article is for subscribers only.
Lucid Group Inc. shares fell in late trading after third-quarter sales and earnings trailed estimates and reservations declined for the company’s luxury electric vehicles.
The automaker’s loss was 40 cents a share, according to a statement Tuesday, wider than analysts’ average estimate of a 31-cent loss. Revenue was $195.5 million, missing the $204 million prediction in a Bloomberg survey.