Why Lucid Group Stock Climbed On Tuesday

Lucid Stock climbs 4.5% as More Tesla Owners Make the Switch

Apr 02, 2025

Summary

Lucid stock surges as the company reported that half of its recent orders came from former Tesla owners

April 2 – Lucid Group (LCID, Financial) stock climbed 4.5% on Tuesday after interim CEO Marc Winteroff said the company is seeing an influx of former Tesla (TSLA, Financial) customers. Over the past two months, nearly half of Lucid's new orders have come from ex-Tesla drivers, according to Fox Business.

Winteroff noted that Tesla owners have been a prime target for Lucid, given their familiarity with EVs and growing interest in alternatives. Analysts suggest Lucid's domestic production in Arizona offers an edge, reducing exposure to tariffs and ensuring quality control.

The EV maker has ambitious plans for 2025. It aims to double production from 9,029 vehicles in 2024 to approximately 20,000. The monthly output is expected to ramp up, reaching 2,000 vehicles by year-end.

Looking forward, Lucid also plans to introduce new models and enhance technology, which will position the company for sustained growth.

Disclosures

I/we have no positions in any stocks mentioned, and have no plans to buy any new positions in the stocks mentioned within the next 72 hours. Click for the complete disclosure

Research Tools

All-In-One Screener Stock Ideas Stock List Guru List Guru Real-Time Picks Insider List Insider Trades Economic Indicators Sector & Industry Performance DCF Calculator Discussion Board

Product

Pricing Plans Excel Add-In Google Sheets Add-on Data API Stock Comparison Table Manual of Stocks Instant Alerts Mobile App 中文

Education

Financial Glossary Tutorials FAQ Schedule Free Session Buffett Indicator Shiller P/E Yield Curve Today U.S. Inflation Rate Global Market Valuation Fed Net Liquidity Buffett Assets Allocation

Company

About GuruFocus Career Contact Us Advertise Term of Use Privacy Policy Referral Program Partner Program

Survey

We'd love to learn more about your experiences on GuruFocus.com and how we can improve!

Take Survey

Disclaimers

GuruFocus.com is not operated by a broker or a dealer. Under no circumstances does any information posted on GuruFocus.com represent a recommendation to buy or sell a security. The information on this site, and in its related newsletters, is not intended to be, nor does it constitute investment advice or recommendations. The individuals or entities selected as "gurus" may buy and sell securities before and after any particular article and report and information herein is published, with respect to the securities discussed in any article and report posted herein. Gurus may be added or dropped from the GuruFocus site at any time. In no event shall GuruFocus.com be liable to any member, guest or third party for any damages of any kind arising out of the use of any content or other material published or available on GuruFocus.com, or relating to the use of, or inability to use, GuruFocus.com or any content, including, without limitation, any investment losses, lost profits, lost opportunity, special, incidental, indirect, consequential or punitive damages. Past performance is a poor indicator of future performance. The information on this site, and in its related newsletters, is not intended to be, nor does it constitute investment advice or recommendations. The information on this site is in no way guaranteed for completeness, accuracy or in any other way. The gurus listed in this website are not affiliated with GuruFocus.com, LLC. Stock quotes are provided by QuoteMedia, Inc. (CSI). Company fundamental data is provided by Morningstar. Analyst estimates data is sourced from both Refinitiv and Morningstar, with priority given to Refinitiv data. Data is updated daily.