Lucid Motors (LCID) is climbing today as investors react to its latest delivery figures, which show steady progress in a tough EV market. The company delivered 3,309 vehicles in Q2 2025 — a 6% rise from the previous quarter and a new all-time high. While it came in just below Wall Street’s forecast of 3,611, the growth signals resilience as Lucid pushes ahead with its premium Gravity SUV.
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Lucid has produced 6,075 vehicles so far this year and will need to scale up meaningfully in the second half to meet its 20,000-unit target. However, the stock’s rise today shows investors are still betting on its long-term vision.
Lucid Bets Big on Its New Gravity SUV
Lucid is relying on its new Gravity SUV to help close the gap in production and drive future growth. The company began building the SUV in late 2024, but most of the early units went to employees, friends, and family. Only recently has Lucid started delivering the Gravity to regular customers.
LCID’s interim CEO Marc Winterhoff has admitted that the rollout has been slower than planned. He blamed the delays on strict quality checks and rising costs tied to new U.S. tariffs. According to Winterhoff, those tariffs have increased Lucid’s overall costs by 8% to 15%. The company is also still working through supply chain problems that continue to slow production.
Despite the setbacks, Lucid said that customer interest in the Gravity SUV remains strong.
All Eyes on Q2 Earnings
Lucid is set to report its Q2 earnings in August. Investors will be watching for signs that the Gravity SUV is gaining momentum beyond early adopters. If Lucid can’t build and sell the Gravity SUV quickly, it could fall further behind, especially as more people pick cheaper cars like hybrids or gas models.
Wall Street forecasts a Q2 2025 loss of $0.22 per share, an improvement from the $0.34 per share loss in the same quarter last year. Meanwhile, revenues are expected to rise by 46% from the same quarter last year, reaching $292.3 million in Q2.
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, seven Holds, and one Sell 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 $2.79 per share implies 36.10% upside risk.
