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Lucid releases Q4 and FY 2022 earnings, posts conservative 2023 forecast

Lucid's first European retail location – the Lucid Studio at Odeonsplatz in Munich, Germany – is a luxury retail space that invites customers to experience the brand and its products in the heart of the iconic old town area. The company expects to open additional studios and service centers in Germany, the Netherlands, Norway, and Switzerland in 2022, and has the ambition to expand into additional key markets across the European continent in the coming years. (Credit: Tesla)

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Electric vehicle maker Lucid Motors has released its Q4 and FY 2022 earnings results. While Lucid highlighted that it was able to exceed its adjusted vehicle production goal last year, the company’s production guidance for 2023 was very conservative. 

Lucid Motors produced a total of 3,493 Air sedans during the fourth quarter at its Arizona factory. The company also delivered 1,932 vehicles in the same period. For the full year, Lucid produced 7,180 vehicles and delivered 4,369

Lucid’s fourth-quarter revenue stood at $257.7 million, while annual revenue was listed at $608.2 million. This allowed the electric car maker to end the fourth quarter with about $4.9 billion in total liquidity. Lucid noted that this amount is expected to fund the company at least into the first quarter of 2024. 

The luxury EV maker also noted that it has reservations of over 28,000 vehicles as of February 21, 2023. This represents potential sales of more than $2.7 billion. Lucid notes that these reservations do not include the up to 100,000 units that are under the agreement with the Saudi Arabia government. 

Lucid Motors CEO Peter Rawlinson was optimistic about the company in a statement about the Q4 and FY 2022 earnings results

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“Last year was a challenging year for everyone, yet despite the extraordinary supply chain and logistics challenges, the team persevered with an unrelenting focus on delivering what we believe is the best luxury sedan on the market. 

“Lucid Air has it all — industry-leading range, exceptional driving dynamics, and superior performance all wrapped up in a truly elegant design with a spacious interior cabin. But more importantly, the technological advances of Lucid Air are developed entirely in-house with the singular goal to advance the adoption of EVs around the world for future generations to come. Lucid Air is the quintessential luxury sedan, and our goal in 2023 is to amplify our sales and marketing efforts to get this amazing product into the hands of even more customers around the world,” Rawlinson said. 

Lucid Motors’ Q4 and FY 2022 results can be viewed below. 

Lucid Fourth Quarter and Full Year 2022 Financial Results by Maria Merano on Scribd

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Maria--aka "M"-- is an experienced writer and book editor. She's written about several topics including health, tech, and politics. As a book editor, she's worked with authors who write Sci-Fi, Romance, and Dark Fantasy. M loves hearing from TESLARATI readers. If you have any tips or article ideas, contact her at maria@teslarati.com or via X, @Writer_01001101.

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Tesla Model Y reclaims elusive sales title in competitive market

As more EVs have entered the market and some at better prices, Tesla’s Model Y has been put up against some very attractive options.

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Credit: Tesla

The Tesla Model Y reclaimed an elusive sales title in one of the most competitive markets it is in, outpacing key rivals and formidable competitors to regain the crown it once was a shoe-in for.

As more EVs have entered the market and some at better prices, Tesla’s Model Y has been put up against some very attractive options.

This is especially prudent in Europe and China, where domestic car companies have been offering attractive and cheap EVs as Tesla alternatives.

However, in September, the Model Y was able to battle back and take over the top sales spot for EVs in Europe.

In September, it had 25,938 sales, and although it was an 8.6 percent decrease compared to the same month in 2024, it was enough to be labeled the best-selling car in the European market, Automotive News reported.

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500-mile test proves why Tesla Model Y still humiliates rivals in Europe

There are four vehicles that have been atop the European EV sales rankings for any given month this year: the Renault Clio, which has three titles, the Dacia Sandero, which has won four monthly sales titles, and the Volkswagen T-Roc, which was the best-selling car in the market in August.

The Clio captured the number-two spot in September with 20,146 sales.

Despite a strong September showing for the Model Y, which was its first monthly sales crown of the year, the vehicle has not been a top-three EV in Europe this year. That is still led by the Sandero, Clio, and T-Roc.

Despite that, Tesla’s Model Y is still likely to be one of the best-selling vehicles in the world, if not the best, for the year.

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In the United States, it has dominated EV sales charts and has been one of the most popular cars in the region. The same goes for China, where the Model Y has more competition than in Europe, but is so attractive because of its premium look and feel, as well as its tech offerings.

The Model Y has been the best-selling car globally for the past two years, outpacing widely popular gas and EV models from around the world.

Tesla also just finished up its best three-month sales period in its history, delivering just shy of half a million vehicles from July to September.

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Tesla dashcam video shows crazy plane crash avoidance maneuver

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Credit: @davidbellow | X

A Tesla captured video of a crashing plane on an Oklahoma highway, as a shocking video shows a small aircraft coming across a local roadway, with various cars ducking to avoid it.

On October 23, an Oklahoma National Guard OA-1K Skyraider II turboprop plane crashed during a training mission after an engine failure. Both crew members escaped unharmed, but they were not the only ones at risk of injury.

A Tesla Dashcam video shared by a friend of the car’s owner shows the vehicle narrowly avoiding an impact with the plane, swerving left, then back onto its side of the road. It appears to be a serious miracle:

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David Bellow, the person who posted the video of the Tesla avoiding the plane, claims it was Full Self-Driving that performed the maneuver, but it is not confirmed. This is what he said:

There are a few hints that suggest it could be Tesla’s Full Self-Driving suite, but it is important to note that neither the company, the driver, nor the friend has confirmed this.

The first hint is the vehicle’s maneuver and subsequent reaction. The car suddenly swerves to the left, which any human would do, but how the vehicle continues to travel as if nothing had happened seems to solidify the idea that FSD could have been involved in avoiding the plane.

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Nevertheless, this does not confirm that FSD was in control.

My Tesla did this on FSD (Supervised) v14.1 and the internet went crazy

Most people would likely have stopped in their tracks after avoiding an aircraft while driving.

However, this is not enough proof to definitively say FSD was responsible for the avoidance.

Additionally, the “Jump to Event” button is activated in the video, suggesting that FSD was in control. The vehicle gives this option when something major has occurred, including human intervention.

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Regardless of whether the car was on FSD or was controlled manually, it is pretty crazy to have this piece of dashcam footage.

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Tesla Full Self-Driving got a minor feature that’s a massive improvement

“Brake Confirm for the Start Self-Driving button is now defaulted off. When disabled, Start Self-Driving will not require you to press and release the brake to confirm engagement.”

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Credit: Tesla

Tesla’s Full Self-Driving suite seems to get better with every single release. However, it is also making it more seamless and easier than ever to use for passenger travel, thanks to a recent feature that has flown under the radar.

Tesla started rolling out its v14 iteration of the Full Self-Driving suite a few weeks ago to Early Access Program (EAP) members, and it finally started making its way to the public for the first time earlier this week.

Tesla Full Self-Driving v14.1 first impressions: Robotaxi-like features arrive

The wide rollout of Tesla v14.1.3 was long-awaited, as its capabilities were flexed by the handful of people lucky to have it. However, those sitting with v13.2.9 were still eager to get to their hands on the new FSD version, especially considering it came with a lot of cool upgrades.

One of which is flying under the radar and not getting as much attention as it should. Although it is a minor feature change from v13, Tesla has made FSD more seamless than ever with a simple fix that it started utilizing with v14.

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With v14.1.1, Tesla started rolling out the removal of the “Brake Confirm” feature, which required drivers to touch the brake to activate Full Self-Driving. This is now an optional feature, as it now is defaulted to the off position by the car.

The release notes for the feature state:

“Brake Confirm for the Start Self-Driving button is now defaulted off. When disabled, Start Self-Driving will not require you to press and release the brake to confirm engagement.

You can enable Brake Confirm in Autopilot > Brake Confirm.”

Simply put, you no longer need to touch the brake to confirm your intention to use Full Self-Driving, which is a small but very effective fix.

It makes your car much more active in terms of overall activation, and it is definitely a quicker and more streamlined departure from your current location than ever before.

Here’s a good look at how quick it is:

@teslarati With Tesla Full Self-Driving v14, there is no delay when you start FSD. Press “Start Self-Driving” and you’re on your way #fyp #viral #tesla #teslafsd #fsdv14 ♬ original sound – TESLARATI

The feature is small, but it is very noticeable with your first uses of FSD v14. Eventually, it will become even more streamlined as Tesla solves self-driving and autonomy, as it will require zero human intervention to get started, which means the “Start Self-Driving” button will also be removed.

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