Lucid Posts Record Deliveries. The EV Maker Is Having a Big Year.

A Lucid Gravity sport-utility vehicle at the Geneva International Motor Show in 2024. (Andrey Rudakov/Bloomberg)

Lucid’s EV is having a pretty good 2025—and its stock flew on Thursday.

Wednesday evening, the Lucid reported second-quarter sales of 3,309 vehicles, up 38% year over year, a record for any quarter. For the first half of the year, Lucid deliveries totaled 6,418, up almost 50%. That’s a lot better than Tesla.

The results show the importance of having new vehicles. Lucid recently started delivering its Gravity sport-utility vehicle, its second model. Lucid also sells its Air sedan.

Rivian, for comparison, delivered 19,301 vehicles in the first half of 2025, down almost 30% year over year. Rivian has been selling its R1T and R1S trucks and SUVs since 2021 and 2022, respectively. It has new models, dubbed R2, that will cost less and arrive in 2026.

Lucid stock gained 5.4% on Thursday, closing at $2.16 a share, while the S&P 500 and Dow Jones Industrial Average each added 0.8%.

Despite the growth, Cantor Fitzgerald analyst Andres Sheppard wrote the results “missed” Wall Street expectations of about 3,600 vehicles. He rates shares Hold and has a $3 price target for the stock.

Lucid’s current guidance is for production of about 20,000 vehicles in 2025. (Production and sales should roughly align.) It produced about 6,100 cars in the first half of the year, leaving almost 14,000 to make in the final six months of 2025.

Lucid produced 9,029 vehicles in 2024.

Coming into Thursday trading, Lucid stock was down about 25% over the past 12 months.

Write to Al Root at allen.root@dowjones.com