California electric vehicle startup Lucid Group delivered just 360 units of its pricey Air sedan in the first quarter of the year, as supply chain woes continued to constrain production at its Arizona factory.
First-quarter production was a modest 700 vehicles, the company said, or about eight vehicles a day.
Nonetheless, Lucid announced last week during its first-quarter earnings report that it's raising prices starting in June, although current reservation holders and May orders will still get the lower pricing.
There is something of a silver lining to Lucid's struggles. First-quarter deliveries were an improvement over the previous quarter, and April deliveries marked further gains, CEO Peter Rawlinson said.
"In Q1, we delivered 360 vehicles to customers, nearly tripling the 125 cars delivered in Q4 of 2021," Rawlinson said on the earnings call. "In April alone, we delivered well over 300 vehicles, demonstrating our accelerated production ramp."
Rawlinson reiterated the automaker's previous production guidance of 12,000 to 14,000 Air sedans this year. That's significant because Lucid had reduced its earlier guidance of 20,000 as part of its earnings report in February.