Lucid motors stock forecast in Q2 2024

In Q2 2024, Lucid Motors' revenue growth slowed to under 15% YoY, fueling bearish sentiment. However, the company’s expansion into Saudi-backed manufacturing plants is seen as a long-term bullish driver for the stock forecast, according to consensus estimates from major brokerages. Lucid is scheduled to report fourth-quarter financial results on Feb. 25. In the third quarter, Lucid reported a net loss of $950 million. The automotive newcomer delivered its first cars in late 2021. Lucid Motors has to increase its deliveries significantly, as it's just about impossible to turn a corner with such dismal capacity utilization. That said, we should see Lucid’s deliveries scale up over the next couple of years as it launches more affordable models, including the upcoming midsize platform. If the EV sector rebound holds and interest rates stabilize, some models project upside toward $5.