Is Lucid's Much-Hyped Gravity Electric SUV Already Failing?
Everything was setting up perfectly for Lucid Group (NASDAQ: LCID) and its investors. The young electric vehicle (EV) maker, which claims to manufacture the world's most advanced EVs, has recorded six consecutive quarters of record-breaking deliveries and moved past bottlenecks, delays, and disappointments from the past. It was gearing up to hand the baton to its newly launched, and highly anticipated, Gravity electric SUV which was meant to drive deliveries significantly higher in the near term.
The bad news? Recent data shows there could be a significant red flag for Gravity sales, but let's dig in before sounding the alarm.
While the Gravity has been in production for months now, registrations of the Gravity remained in single digits through June. More specifically, data from S Global Mobility showed the Gravity accumulated only nine U.S. registrations by June 30, while the company's Air sedan totaled 4,780. The latter was actually up a robust 52% year over year.
Source Fool.com
