This American electric vehicle manufacturer loses more than 300,000 euros on each car

Large automakers generally make a lot of money, but not every make and model is profitable. If a car doesn’t reach the public, there is often a significant loss. This also applies to the American electric vehicle manufacturer Lucid, which loses more than 300,000 euros per car.

Elon Musk has proven that making a profit isn’t easy, especially as a starting automaker. Despite Tesla’s popularity, the brand suffered a loss of $862 million in 2019. A year later, the brand was profitable. However, this was due to regulations rather than car sales. You can read how this works here.

The clear air

Compatriot Lucid performs significantly worse than Tesla. The brand currently has one model: the Air. The EV costs 115,000 euros in the “cheapest” version. A hefty price, but the Pure has 487 horsepower and a 92 kWh battery.

Sales figures for the Lucid Air seem to be quite disappointing. A total of only 1,550 cars were built in this (third) quarter and 700 cars are still ready for final assembly in Saudi Arabia. Production is significantly lower than in the second quarter of 2023, when 2,173 cars were built.

More than 300,000 euros lost per car

The Bloomberg news agency estimates that the manufacturer loses $338,000 (almost 321,000 euros) for every Lucid Air built. This is because the brand produces significantly fewer cars than originally intended. Lucid has set a goal of producing 10,000 cars per year. There is no expectation that they will be able to do this again.

Lucid isn’t the only brand facing significant losses. The Chinese Nio also invests a lot of money per car, even though it’s not 3 tons. However, Tesla has shown that it can make good profits and almost every manufacturer has had models on which it made losses. Still, the extreme losses per car aren’t good news for Lucid.