Why Lucid Group Shares Are Sliding Today

Lucid Group, Inc. LCID shares are trading lower on Thursday after the company announced the fourth-quarter deliveries.

Lucid produced 2,391 vehicles during Q4 and delivered 1,734 vehicles during the same period.

On a full-year basis in 2023, the company produced 8,428 vehicles and delivered 6,001 vehicles. 

The company said it will announce the fourth quarter 2023 financial results on Wednesday, February 21, 2024.

Also Read: Tesla Toppled As Global EV Leader, Rivian's Q4 Deliveries Disappoint, Fisker Goes The Dealer Way And More: Biggest EV Stories Of The Week

Meanwhile, Elon Musk-owned Tesla, Inc. TSLA, the EV behemoth, hit the 1.8-million-unit delivery goal for the full year 2023 as the company sold 484,507 EVs in the fourth quarter.

Rivian Automotive, Inc. RIVN delivered 13,972 EVs in the fourth quarter.

One significant news item that made waves in the EV world recently was Tesla surrendering its EV crown as the biggest manufacturer in terms of volume to the Warren Buffett-backed Chinese EV manufacturer BYD Co., Ltd. BYDDY BYDDF, which delivered 526,409 vehicles in Q4.

Last month, Lucid announced that SiriusXM's audio streaming entertainment experience is available to all new and existing Canadian Lucid owners.

Read Next: Why Palantir Technologies Shares Are Gaining Today

Price Action: LCID shares are trading lower by 6.4% to $3.19 on the last check Thursday. 

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