Lucid’s Quarterly Production Falls, Missing Estimates (1)

Lucid Group Inc.’s electric vehicle production dropped in the third quarter and missed analysts’ forecasts, even as deliveries exceeded expectations.

The Newark, California-based carmaker said Monday it manufactured 1,805 EVs in the three months to Sept. 30 and delivered 2,781 vehicles during the period, compared with second quarter output of 2,394 vehicles and delivery of 2,110. Analysts had projected production of 2,267 vehicles and delivery of 2,168 in the latest quarter, according to estimates compiled by Bloomberg.

Shares of the company rose 2.8% to $3.43 as of 9:39 a.m. in New York. The stock is down about 19% this ...