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Shares of Lucid Group Inc. fell more than 3% in the extended session Thursday after the electric-vehicle maker reported first-quarter sales that were below Wall Street’s expectations.
Lucid
LCID,
said it delivered 1,406 luxury Lucid Air all-electric sedans in the first quarter, and produced 2,314 at its factory in Arizona. Analysts polled by FactSet expected the company to deliver about 2,000 vehicles.
See also: Tesla earnings: ‘Warpath’ on prices puts profit margins in the spotlight
The Air is Lucid’s only offering so far and starts at $87,400.
Lucid also said it is scheduled to report its first-quarter results May 8 after the bell.
Taking a page from competitor Tesla Inc.
TSLA,
Lucid said that it engaged a third-party company organize and allow retail and institutional investors to submit and upvote questions during the earnings presentation.
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Selected questions will be answered by management during the earnings call after the results, the company said. That’s to “enhance engagement with the company’s shareholder base and facilitate connections with its investors,” Lucid said.
Lucid said in February it had sold 4,369 vehicles in 2022 and produced more than 7,000. The EV maker guided for the production of 10,000 to 14,000 vehicles this year.
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