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Outbyte Driver Updater FREEScan for outdated or missing drivers - takes under a minuteDriver Scan →Outbyte PC Repair FREEClear out junk files and repair common Windows errorsFree Scan →Lucid produced 9,029 vehicles in 2024, close to its later guidance of approximately 9,000. The 90,000 figure it had projected in 2021 was something different: management’s forecast for total vehicle sales in 2024, not a production target or a guarantee. Lucid reported 10,241 deliveries for the year.
What Lucid projected for 2024 in 2021
A July 13, 2021 investor presentation filed with the SEC showed management projections, dated May 13, 2021, for 90,000 total vehicle sales in 2024. The forecast comprised 41,000 luxury sedans and 49,000 SUVs. Lucid/Churchill Capital’s 2021 investor presentation described the figures as forward-looking projections based on assumptions, warned actual results could differ materially, and said the projections were not a guarantee or prediction of definitive fact.
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What Lucid produced and delivered in 2024
| Measure | 2024 figure | What it means |
|---|---|---|
| Production | 9,029 vehicles | Vehicles Lucid reported producing during calendar 2024. |
| Deliveries | 10,241 vehicles | Vehicles Lucid reported delivering during calendar 2024. |
| Production guidance | Approximately 9,000 vehicles | Lucid’s approximate annual production expectation, reiterated in its November 7, 2024 third-quarter release. |
In its February 25, 2025 full-year release, Lucid said production of 9,029 was in line with its approximately 9,000-vehicle 2024 production guidance, and reported 10,241 deliveries. The company had announced the approximate production target in February 2024; TechCrunch’s February 21, 2024 report covered that announcement. These figures describe different stages: production is not the same as delivery, and neither is the 2021 projected sales-volume figure.
Why the two 90,000 figures are easy to confuse
Lucid’s 2024 Form 10-K says expansion activities brought installed annual capacity at its AMP-1 factory to 90,000 vehicles. That is a measure of factory capacity, not the number built in 2024 and not the 2021 sales projection. The same report says Lucid assembles its Air and Gravity vehicles at AMP-1 in Arizona. Lucid’s 2024 Form 10-K
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In other words, the repeated number refers to two separate concepts: projected 2024 sales volume in the 2021 presentation and installed annual production capacity after factory expansion. Neither changes the reported 2024 production total of 9,029.
What the comparison does—and does not—show
The contrast is stark, but it is not a like-for-like forecast score: 90,000 was projected sales volume, while 9,029 is actual production. It would be misleading to call production about 10% of the forecast a precise forecast hit rate because the measures differ. The presentation also projected a sedan-and-SUV mix, but the cited full-year totals do not establish actual 2024 production by model.
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The figures alone do not establish why the outcome differed from the earlier projection, whether demand was the decisive factor, or Lucid’s overall financial condition. Lucid has cautioned that production and delivery totals are only one measure of operating performance and should not be relied on as the sole indicators of quarterly financial results, which depend on multiple factors. Lucid’s production and delivery release
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