Last year was not a good one to be an electric vehicle (EV) company in the United States. The EV maker that took the worst of it was Lucid Group Inc. (NASDAQ: LCID | LCID Price Prediction).
Ford took a $19.5 billion write-off on its EV business. Tesla’s November sales were among their worst monthly numbers in four years. The entire industry took a hit when the Trump administration killed the $7,500 EV tax credit. The theory emerged that early adopters of EVs were the only adopters, at least for several years.
Lucid stock sold down 65% last year, as the S&P 500 rose 17%. It outperformed the S&P 500 briefly last February. However, even Jim Cramer jumped in with an opinion on December 23: “Sell, sell, sell.”
Its cars are too expensive. The base price for its Lucid Pure is $71,000. That price can rise as high as $250,000, which is an absurd price for almost any car short of a Rolls Royce. The Lucid Touring has a base price of $80,000, which rises to $95,000 for a higher-end model.
The primary argument for the decline in Lucid’s stock is that it is barely a car company at all. It delivered only 4,078 vehicles in the third quarter. It lost over $1 billion on revenue of $337 million. A back-of-an-envelope calculation shows that its unit sales would need to rise six times to break even, if it can hold costs in check.
Investors are well aware that Lucid is a tiny company in a struggling industry. If the industry’s falling tide is lowering all boats, what chance does Lucid have?
Morgan Stanley recently surrendered on Lucid, downgrading its outlook to Underweight from Equal Weight. The firm also lowered its $30 price target to $10. Investors took note. The share price hit an all-time low of $10.45 as the year ended.
Lucid Stock Price Prediction and Forecast 2026–2030
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