Lucid's US Sales Fell in July and Its Stock Is Down 30% This Year— Can Q2 Earnings Change the Narrative?

Lucid Group Inc. (NASDAQ: LCID ) is set to report its earnings following market close on Tuesday.

However, falling sales figures, combined with the volatility of the stock, could pose challenges for the EV maker.

Lucid’s US Sales Fall According to data from market research firm Motor Intelligence cited by an Electric Vehicles report on Monday, Lucid sold an estimated 860 units in the U.S. during July.

The figure represents a 3.4% YoY decline from July 2025 and a 5.7% decline from June 2026, the report said.

Read Also: Elon Musk Dismisses Report Tesla Could Sell Chinese Business for SpaceX Merger: 'Absurdly Fake News' Notably, Lucid reported zero sales in four months in the Norwegian market, the report said.

Norway remains one of the most popular markets for Battery Electric vehicles, with Norwegian Road Traffic Information Council data showing that EVs accounted for over 97% of Norway’s total new car registrations in July.

Lucid’s lackluster U.S. sales come despite the company offering incentives like 0% financing for 72 months on 2026 Lucid Gravity units, as well as incentives worth up to $16,000 through various schemes on the stock, the report said.

The Lucid Air sedan also had its own incentives worth up to $10,000, the report added.

Motor Intelligence data only covers U.S. sales, but Lucid also operates in markets like Saudi Arabia and Canada, among others.

Lucid’s Bankruptcy Rumors, Stock Movement The news comes as Lucid CEO Silvio Napoli had dismissed reports that the automaker was going to file for bankruptcy.

Slamming the reports, Napoli said that the EV maker was “not considering bankruptcy or a transaction to take the company private." Lucid’s Chief Communications Officer Nick Twork had earlier denied rumors of bankruptcy, saying that the automaker had delivered a cease-and-desist letter to the outlet behind the report.

The automaker, during the second quarter of 2026, produced 4,774 vehicles and delivered 3,953 units, amid a series of changes in its leadership.

Price Action: LCID, since the beginning of the year, has declined over 30%.

Lucid shares were trading for around $11/share on January second, but have since fallen to $7.70/share at market close on Monday.

According to Edge Rankings, Lucid offers poor Momentum, but provides a favorable price trend in the Short and Medium term.

Read Also: Ross Gerber Says Tesla Investors Are Excited for SpaceX's Earnings Because They 'Get Elon Twice a Quarter' as Musk Agrees SPCX Dip Is An 'Insane Opportunity' Check out more of Future Of Mobility coverage by following this link.

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