Shares of the company fell around 5% in extended trading.
The company expects to make 9,000 units for the full-year 2024 compared with estimates of 22,594 according to five analysts polled by Visible Alpha. The company made 8,428 vehicles in 2023.
The Saudi Arabia-backed company took to slashing prices once more for its Air sedans last week to counter sagging demand at a time when the EV industry is seeing a slowdown.
The company also missed estimates for fourth-quarter revenue hit by a slowdown in deliveries as consumers grapple with high costs.
Lucid reported revenue of $157.2 million, missing average analysts' estimate of $179.9 million, according to LSEG data.
