A quarter of the record in Lucid got an elevator from rental sales and rental contracts for the company

Lucid Motors set a record in the company for delivery in the first quarter of 2025, and shipped 3,109 EVS for customers in North America, Europe and Saudi Arabia. The company’s cars and new sales program seem to have helped them to get there.

According to a footnote to Motors Lucid The latest organizational depositHe sold the equivalent of about 300 cars to what “rental companies” indicate in the quarter. Nick Tuwarik, a Lucid Motors spokesman, said in an email that, despite the use of the term, the “vast majority” of the vehicles referred to in the footnote to the rental companies and rented to the auto industry company as part of a renewable car program.

“As part of the normal course of business, we benefit from fleet transactions whenever we see a good opportunity in the interest of our business,” he said.

Sales in the first quarter of rental and rental companies, Levores Motors, allowed the number of cars that they provided in the fourth quarter of 2024 out of 100 vehicles, which represents the fifth consecutive quarter in which the company’s delivery increased. This is despite the fact that the beginning of the evaluation year is often a difficult extension of car sales; For example, both the leaders of the industrial and Rivian leaders have witnessed dramatic declines in delivery processes to the start of the year.

Follow the Lucid of Records Abouts extension years of struggling to create a luxury sedan market, which is air. The company has suspended high hopes on the first SUVs, The Gravity, which is expected to ship in greater sizes in the second half of this year.

In temporary CEO Mark Winterhoff celebrated the teacher at the start of the company’s profit call last week. He said: “Many of our customers still tell us that once a clear experience is difficult to return.”

Numbers analysis

It is difficult to say exactly the number of cars sold to leasing and leasing companies. The company refused to break the numbers available in its regulatory files. So far, I only reported the value of the dollar for cars sold in this way.

Lucid said in the first quarter that he sold $ 27.2 million of vehicles “for rental companies” in the first quarter. The division of Lucid’s revenues for a quarter ($ 235 million) indicates the delivery operations (3,109) that the average selling price of the company in this period can be about 75,590 dollars, which means that it sold up to about 360 EVS for leasing and leasing companies.

Whatever the exact number, it appears to be a height. To refer to it, the company wrote that it sold $ 34.7 million of cars to rental companies in 2024. Previously presentationLucid said she sold $ 9.1 million in 2023.

Although sales may have helped deliver a quarter, they do not seem to have an impact on the amount of money that the company earned.

Lucid says elsewhere in the regulatory deposit that he does not immediately book revenues on cars that they sell to rental companies because they are obligated to re -buy these vehicles at a later time. Lucid only writes revenues at that stage – and until then, it books the difference between the initial selling price and the purchase price agreed with rental companies as revenues.

It is not a secret to Lucid working with leasing companies. The company announced in October 2024 that Germany -based Sixt was Begin use Lucid is broadcast on her fleet of rented vehicles. It also has a deal with the institution that has been published less. But even the last regulatory file, it was difficult to determine the amount of rent sales on the total connection numbers of Lucid.

The evaluation of customer demand for Lucid cars is very important because the company’s first EV, AIR, has struggled to upgrade the level of expectations for several reasons. The company started selling air in 2021 at a time when sedans fell from fashion in North America. Lucid initially focused on the most expensive air versions during the first two years of sales.

As these sales rise, Tesla began to reduce prices on its private cars in an attempt to maintain the growth promised by Wall Street. These price cuts caused Domino’s impact to other auto industry companies that sell EVS. By the time Lucid began charging the most affordable version of the sedan – Air Pure – in late 2023, it made multiple price discounts to maintain the competitiveness of sales.

Former CEO Peter Rolinson – who was replaced earlier this year after he stepped down – He said In 2023, “(R) is a few people who realize not only the car, but even the company.”

Winterhoff, temporary CEO, has said since he took over he wanted to boost Lucid marketing efforts. The company spent $ 3.5 million on sales and marketing in the first quarter, and on a call last week, he said that investors must expect an increase.