Lucid delivered 3,109 vehicles in the first quarter of 2025, a company record at the time and 100 more than in the previous quarter. Sales to rental and leasing companies contributed to the tally—but Lucid did not disclose how many vehicles those transactions involved. It reported $27.2 million in vehicles sold to rental companies, while the often-cited estimate of about 360 vehicles is a journalistic calculation, not an official count.
How many cars did rental companies buy?
Lucid’s Q1 2025 filing reported $27.2 million in vehicles sold to rental companies. It did not give an exact unit count for vehicles sold to rental or leasing companies, so the dollar figure cannot establish how many cars were involved.
![Hot Wheels Lucid Air, Factory Fresh 1/5 [Black] 97/250](https://m.media-amazon.com/images/I/51NZSEytZrL._SL160_.jpg)
TechCrunch estimated that the transactions could represent as many as around 360 EVs. That figure was inferred by dividing Lucid’s $235 million in quarterly revenue by its 3,109 deliveries to estimate an average selling price, then applying that estimate to the rental-company transaction value. It is not an audited figure or a unit count disclosed by Lucid; the calculation depends on an assumed average price across the quarter’s deliveries.
Did those deals help Lucid set a delivery record?
Yes. Lucid reported 3,109 deliveries in Q1 2025, 100 more than in Q4 2024. TechCrunch described it as the company’s fifth consecutive quarter of increasing deliveries and reported that sales to leasing and rental companies contributed to the increase. The reported record therefore included fleet-related transactions, not only deliveries to individual retail customers.
#1 Best Overall
- Officially licensed Lucid Air - modern luxury electric vehicle as a detailed Hot Wheels model
- Elegant dark red metallic finish with black roof for a high-quality, futuristic look
- Streamlined sedan silhouette with clean lines and aerodynamic design
- Stylish silver black aero rims to match the vehicle's EV character
- Part of the HW Green Speed Series 2026 - 6/10 - Focus on modern, environmentally oriented performance vehicles. 2026 Hot Wheels Mainline Number 59/250 - Fixed Serial Number with Collector Value
A delivery count and revenue recognition are different measures. Under Lucid’s described accounting, vehicles sold primarily to rental companies with an obligation for Lucid to repurchase them at an agreed price are treated as operating leases. Lucid recognizes the difference between the proceeds and the agreed repurchase price as vehicle leasing revenue over the lease term. The initial handoff can count as a delivery without the full transaction value being recognized immediately as vehicle revenue.
What do the rental-company sales figures show?
| Period | Reported value of vehicles sold to rental companies |
|---|---|
| 2023 | $9.1 million |
| 2024 | $34.7 million |
| Q1 2025 | $27.2 million |
These are dollar values reported for the periods, not vehicle counts. The Q1 2025 figure was reported in Lucid’s filing, as covered by TechCrunch; the figures for 2024 and 2023 provide historical context. They should not be added to or treated as equivalent to leasing revenue recognized over time.
Which rental partners were identified?
TechCrunch reported that Lucid announced in October 2024 that Sixt was beginning to use Lucid Air vehicles in its rental fleet. It also reported a less-publicized deal with Enterprise. The reporting did not quantify either partner’s fleet or disclose contract duration, geography, purchase price, or future vehicle volumes, so those details cannot be inferred from the partnerships.
Independent reader supportYour contribution helps us test, update, and keep practical guides available for everyone.How the record compares with later updates
Later results are separate periods and do not change what Lucid disclosed about Q1 2025. In Q1 2026, Lucid reported 5,500 vehicles produced and 3,093 delivered, along with $282.5 million in revenue. Its release said a seat-supplier issue affected Gravity deliveries in February and was resolved during the quarter. In its Q3 2026 operating update, published October 5, 2026, Lucid reported 2,954 produced and 3,806 delivered as it reduced existing inventory during an operating reset. That update covered production and deliveries, not the specific composition of the Q1 2025 total.
Rank #3
![Hot Wheels Lucid Air, Factory Fresh 1/5 [Gold] 97/250](https://m.media-amazon.com/images/I/41nX-pKEQoL._SL160_.jpg)
- Made In Malaysia
Lucid’s later filings also use categories that should not be confused with the Q1 2025 rental-company sales value. The Q1 2026 filing said vehicle sales related to its leasing program represented approximately 41% of total revenue, compared with 57% for Q1 2025. It separately reported sale-and-leaseback revenue of $34.4 million in Q1 2026 and $25.9 million in Q1 2025. For Q2 2026, it reported sale-and-leaseback revenue of $16.6 million; the first-half total was $51.0 million, versus $19.0 million and $44.9 million for the comparable Q2 and first-half 2025 periods. Those revenue measures are distinct from the dollar value of vehicles sold to rental companies and do not show what share of deliveries went to rental fleets.
Quick Recap
Rank #4
![Hot Wheels 2022 - Lucid Air - HW Green Speed 4/5 [Silver] 147/250](https://m.media-amazon.com/images/I/51PdXUtfUhL._SL160_.jpg)
- Hot Wheels 2022 Collection: Features the Lucid Air model from the HW Green Speed series, number 4 of 5 in the themed collection
- Limited Edition Release: Numbered 147 out of 250 in the 2022 Hot Wheels mainline series, making it a collectible item
- Silver Finish: Showcases a sleek silver paint scheme that highlights the modern electric vehicle design of the Lucid Air
- Authentic Detailing: Precision die-cast metal body with realistic features that capture the essence of the actual Lucid Air luxury electric sedan
- Collector Series: Part of the HW Green Speed collection celebrating environmentally conscious and electric vehicle technology in 1:64 scale
Product prices and availability are accurate as of the date/time indicated and are subject to change. Any price and availability information displayed on Amazon at the time of purchase will apply.
