Lucid EV Output, Deliveries Disappoint as US Tax Credit Expires

Lucid Group Inc.’s electric vehicle production fell short of Wall Street’s forecasts during the third quarter as the car maker contends with the elimination of a consumer tax credit.

Third-quarter production of 3,891 EVs, reported in a statement Monday, lagged behind the 5,621 average of analyst estimates compiled by Bloomberg.

The Newark, California-based automaker’s 4,078 deliveries also fell shy of estimates for what was expected to be Lucid’s busiest sales quarter. The phasing out of a $7,500 federal EV tax credit on Sept. 30 helped drive demand for electric models from rival manufacturers.

Lucid has been working to ramp ...