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The HARD TRUTH about EVs
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<blockquote data-quote="Weather Man" data-source="post: 16905378" data-attributes="member: 137766"><p>Stick a fork in them.</p><p></p><p>Last week, Lucid announced that its Arizona manufacturing facility had produced 2,314 EVs during the first quarter. This level of production places the company a little shy (on an annual run-rate basis) of the 10,000 to 14,000 EVs it announced as its target production rate for 2023 back in February.</p><p></p><p>But it's not Lucid's tepid production growth that should be raising eyebrows -- it's the company's deliveries. <a href="https://www.fool.com/investing/2023/04/17/bad-news-for-lucid-and-tesla-stock-investors/?utm_source=msnrss&utm_medium=feed&utm_campaign=article&referring_guid=c0856057-4d11-464a-80f7-d23c8e1487f4" target="_blank">The first quarter saw just 1,406 EVs reach buyers</a>. In 2022, the company produced 7,180 EVs, with only 4,369 being delivered. Since 2022 began, Lucid has produced 3,719 more EVs than it's delivered.</p><p></p><p>While that's a considerably smaller nominal inventory build than Tesla's 78,000-plus vehicles, it's a terrifyingly large number for a company that only delivered 1,406 EVs in the first quarter. Instead of excess supply accounting for 15 days' worth of sales in Tesla's case, Lucid is sitting on about eight months' worth of inventory, based on Q1 sales.</p><p></p><p>[URL unfurl="true"]https://www.msn.com/en-us/money/companies/rising-inventory-for-2-ultra-popular-electric-vehicle-ev-stocks-is-an-ominous-warning-for-investors/ar-AA1a5CVM?ocid=msedgntp&cvid=0eea7fe63d464775ae6e1e1c19c6794e&ei=35[/URL]</p></blockquote><p></p>
[QUOTE="Weather Man, post: 16905378, member: 137766"] Stick a fork in them. Last week, Lucid announced that its Arizona manufacturing facility had produced 2,314 EVs during the first quarter. This level of production places the company a little shy (on an annual run-rate basis) of the 10,000 to 14,000 EVs it announced as its target production rate for 2023 back in February. But it's not Lucid's tepid production growth that should be raising eyebrows -- it's the company's deliveries. [URL='https://www.fool.com/investing/2023/04/17/bad-news-for-lucid-and-tesla-stock-investors/?utm_source=msnrss&utm_medium=feed&utm_campaign=article&referring_guid=c0856057-4d11-464a-80f7-d23c8e1487f4']The first quarter saw just 1,406 EVs reach buyers[/URL]. In 2022, the company produced 7,180 EVs, with only 4,369 being delivered. Since 2022 began, Lucid has produced 3,719 more EVs than it's delivered. While that's a considerably smaller nominal inventory build than Tesla's 78,000-plus vehicles, it's a terrifyingly large number for a company that only delivered 1,406 EVs in the first quarter. Instead of excess supply accounting for 15 days' worth of sales in Tesla's case, Lucid is sitting on about eight months' worth of inventory, based on Q1 sales. [URL unfurl="true"]https://www.msn.com/en-us/money/companies/rising-inventory-for-2-ultra-popular-electric-vehicle-ev-stocks-is-an-ominous-warning-for-investors/ar-AA1a5CVM?ocid=msedgntp&cvid=0eea7fe63d464775ae6e1e1c19c6794e&ei=35[/URL] [/QUOTE]
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