As predicted by Lucid CEO Peter Rawlinson, the company expects sales to slow down towards the end of the year, as consumers increasingly opt to take vacations rather than buy electric vehicles. In an interview, Rawlinson emphasized the importance of offe

Quick Summary:

We expect typical seasonal slowing in Saudi Arabia in Q2, and we expect typical seasonal slowing globally in Q3 as consumers go on vacation,” CEO Peter Rawlinson said during the company’s first-quarter earnings call on Monday.While U.S.automakers generally experience dwindling demand over the winter months in the first quarter, falling ...

EV maker Lucid Group (NASDAQ:LCID) expects sales to fall in the upcoming two quarters after reporting a nearly 40% year-on-year uptick in the first quarter.

However, for the second and third quarters, the company expects sales to dip, owing to particularly strange reasons.“I always offer caveats.

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Article Details

Author / Journalist: Anan Ashraf

Category: Technology

Markets: United StatesSaudi Arabia

Topics: Earnings Guidance LCID Mobility Stories That Matter Benzinga Top Stories Tech News Electric vehicles EVs Peter Rawlinson

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-05-07 @ 06:41:40 (1 weeks ago)

News Timezone: GMT +8:00

News Source URL: benzinga.com

Language: English

Article Length: 402 words

Reading Time: 3 minutes read

Sentences: 17 lines

Sentence Length: 24 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Benzinga

News ID: 20903156

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