The production figures reflect Lucid's decision to cut from two shifts to one as part of an "operational reset" under Napoli, who started leading the automaker in June. The company had previously ramped production earlier this year, reaching a high of nearly 7,900 vehicles in the fourth quarter of 2025 and 5,500 in the first quarter of 2026.
Year-to-date, deliveries are 3.4 per cent higher than the prior year's first three quarters, and production has climbed 33 per cent in that period. However, the quarterly decline signals ongoing demand challenges.
Lucid outlined a turnaround plan in August that aims to identify $1.4 billion in cash flow improvement opportunities for 2026. These include approximately $600 million to $800 million from vehicle inventory, $500 million from capital expenditures, and $200 million from operating expenses.
Shares of Lucid closed up less than 1 per cent at $4.17 on Monday and were little changed in extended trading. The stock has fallen more than 60 per cent this year. Lucid said it will report its full third-quarter financial results on November 9.