Lucid Motors reported significant growth in its first quarter results for 2025, achieving a 28% increase in deliveries compared to Q1 2024. This surge is largely attributed to former Tesla owners, with CEO Marc Winterhoff noting that 50% of new orders are from this demographic. Additionally, they experienced considerable interest in the new SUV, Gravity, with over 75% of orders coming from new customers. While Lucidâs deliveries were still dwarfed by Tesla, this momentum presents a positive outlook for the company's strategy in the competitive electric vehicle market.
We've seen a dramatic uptick in the last two months. 50% of the orders we have are from former Tesla owners.
What we tried to do with the Gravity is really open completely new customer segments for us. More than 75% of our Gravity orders are from people who have not been with Lucid before.
Lucid Motors' deliveries for the first three months of this year were 3,109, while Tesla's were 337,000.
The announcement of the Gravity was seen as a bright spot for Lucid, both for its performance and for its relatively affordable price.
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