Lucid, an electric vehicle manufacturer, suffers a quarterly drop in orders
In a statement released after market close on Tuesday, Lucid Group Inc. said demand for its luxury electric cars had dropped in the third quarter from the second. This decline was attributable in part to cancellations and individuals fearing a lengthy waiting period. After cancelations and car deliveries totaling over 1,400, the company claimed having over 34,000 orders in the reported period, a decrease of 3,000 from the second quarter.