Lucid Motors reported its Q1 earnings this week, showing some improvement from the same period last year despite still having over half a billion in net losses.
In its earnings report, Lucid reported a net loss of $684.7 million, down from $779.5 million in the same period last year. The luxury segment electric vehicle (EV) maker reported revenue of $173 million, compared to just $149 million in Q1 2023, along with ending the quarter with cash equivalents of $2.2 billion, up from $1.4 billion in Q4.
Lucid detailed its Q1 delivery and production numbers last month, delivering 1,967 of its Air sedan for a 39.9 percent increase year over year, while producing 1,728 in the quarter. The company also reiterated a forecast of around 9,000 vehicles produced for 2024, highlighting its recent investments from the Saudi Arabia Public Investment Fund (PIF).
“I believe there are two factors that set Lucid apart β our superior, in-house technology and the partnership with the PIF,” said Lucid CEO and CTO Peter Rawlinson in the company’s press release. “Our sales momentum is building, our focus upon cost remains relentless, and we believe Gravity is on track to become the best SUV in the world.”
Credit: Lucid Motors
Despite the automaker still burning through cash, its production ramp has helped it improve compared to the first quarter of the year in 2023. Lucid has also noted that it ended Q1 with around $5.03 billion in liquidity, in part due to its $1 billion private placement arranged with an affiliate of the PIF.
“We continue to make significant progress on our cost optimization programs,” said Gagan Dhingra, Lucid’s Interim Chief Financial Officer and Principal Accounting Officer. “We’re focused on significant growth as we enter the next transformational phase of Lucid’s end markets while simultaneously driving cost discipline.”
The company also pointed to its upcoming EVs, including the Gravity and a cheaper Model Y competitor, set to start production in late 2026. Lucid is set to enter production of its forthcoming Gravity SUV this year, with the automaker currently expanding its factory in Arizona to accommodate the vehicle.
You can see Lucid’s full Q1 2024 earnings deck here, or listen to a replay of the earnings call here.
Updated 6:08 p.m. MT: Corrected first paragraph to read “half a billion in net losses” after incorrectly writing half a “million in net losses.”
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Tesla is dominating in the United Kingdom so far through 2025, and with about two weeks left in the year, the Model Y and Model 3 are leading the way.
The Model Y and Model 3 are the two best-selling electric vehicles in the United Kingdom, which is comprised of England, Scotland, Wales, and Northern Ireland, and it’s not particularly close.
According to data gathered byΒ EU-EVs, the Model Y is sitting at 18,890 units for the year, while the Model 3 is slightly behind with 16,361 sales for the year so far.
The next best-selling EV is the Audi Q4 e-tron at 10,287 units, lagging significantly behind but ahead of other models like the BMW i4 and the Audi Q6 e-tron.
GOOD NEWS π¬π§ Tesla is absolutely crushing the UK electric vehicle market in 2025 π₯
The numbers are in, and the dominance is clear. With an impressive amount of 42,270 vehicles delivered year-to-date, the brand now commands a solid 9.6% market share of the total auto market πβ¦ pic.twitter.com/dkiGX9kzd0
β Ming (@tslaming) December 18, 2025
The Model Y has tasted significant success in the global market, but it has dominated in large markets like Europe and the United States.
For years, it’s been a car that has fit the bill of exactly what consumers need: a perfect combination of luxury, space, and sustainability.
Both vehicles are going to see decreases in sales compared to 2024; the Model Y was the best-selling car last year, but it sold 32,610 units in the UK. Meanwhile, the Model 3 had reached 17,272 units, which will keep it right on par with last year.
Tesla sold 50,090 units in the market last year, and it’s about 8,000 units shy of last year’s pace. It also had a stronger market share last year with 13.2 percent of the sales in the market. With two weeks left in 2025, Tesla has a 9.6 percent market share, leading Volkswagen with 8 percent.
The company likely felt some impact from CEO Elon Musk’s involvement with the Trump administration and, more specifically, his role with DOGE. However, it is worth mentioning that some months saw stronger consumer demand than others. For example, sales were up over 20 percent in February. A 14 percent increase followed this in June.
News
Tesla Insurance officially expands to new U.S. state
Tesla’s in-house Insurance program first launched back in late 2019, offering a new way to insure the vehicles that was potentially less expensive and could alleviate a lot of the issues people had with claims, as the company could assess and repair the damage itself.
Tesla Insurance has officially expanded to a new U.S. state, its thirteenth since its launch in 2019.
Tesla has confirmed that its in-house Insurance program has officially made its way to Florida, just two months after the company filed to update its Private Passenger Auto program in the state. It had tried to offer its insurance program to drivers in the state back in 2022, but its launch did not happen.
Instead, Tesla refiled the paperwork back in mid-October, which essentially was the move toward initiating the offering this month.
BREAKING: Tesla Insurance has just officially launched in Florida.
This is the first new state to receive @Tesla Insurance in more than 3 years. In total, Tesla insurance is now available in 13 U.S. states (map in thread below of all the states).
Tesla Insurance in Florida uses⦠pic.twitter.com/bDwh1IV6gD
β Sawyer Merritt (@SawyerMerritt) December 17, 2025
Tesla’s in-house Insurance program first launched back in late 2019, offering a new way to insure the vehicles that was potentially less expensive and could alleviate a lot of the issues people had with claims, as the company could assess and repair the damage itself.
It has expanded to new states since 2019, but Florida presents a particularly interesting challenge for Tesla, as the company’s entry into the state is particularly noteworthy given its unique insurance landscape, characterized by high premiums due to frequent natural disasters, dense traffic, and a no-fault system.
Annual average premiums for Florida drivers hover around $4,000 per year, well above the national average. Tesla’s insurance program could disrupt this, especially for EV enthusiasts. The state’s growing EV adoption, fueled by incentives and infrastructure development, aligns perfectly with Tesla’s ecosystem.
Moreover, there are more ways to have cars repaired, and features like comprehensive coverage for battery damage and roadside assistance tailored to EVs address those common painpoints that owners have.
However, there are some challenges that still remain. Florida’s susceptibility to hurricanes raises questions about how Tesla will handle claims during disasters.
Looking ahead, Tesla’s expansion of its insurance program signals the company’s ambition to continue vertically integrating its services, including coverage of its vehicles. Reducing dependency on third-party insurers only makes things simpler for the company’s automotive division, as well as for its customers.
News
Tesla Full Self-Driving gets sparkling review from South Korean politician
“Having already ridden in an unmanned robotaxi, the novelty wasnβt as strong for me, but it drives just as well as most people do. It already feels like a completed technology, which gives me a lot to think about.”
Tesla Full Self-Driving got its first sparkling review from South Korean politician Lee So-young, a member of the country’s National Assembly, earlier this week.
Lee is a member of the Strategy and Finance Committee in South Korea and is a proponent of sustainable technologies and their applications in both residential and commercial settings. For the first time, Lee was able to utilize Tesla’s Full Self-Driving technology as it launched in the country in late November.
Her thoughts on the suite were complimentary to the suite, stating that “it drives just as well as most people do,” and that “it already feels like a completed technology.”
λλμ΄ μ€λ, μμΈμμ ν μ¬λΌ FSD 체ν νμ΅λλ€.
JiDal Papaλμ λͺ¨λΈS νμ°¬μ νμ μ΄^^ ννλ μ λ§ κ°μ¬ν©λλ€.
κ΅ν -> λ§μμμ₯ -> νμ΅λ -> κ΅ν λ³΅κ· μ½μ€μκ³ μ.
μ΄λ―Έ λ¬΄μΈ λ‘보νμλ₯Ό νλ΄μ κ·Έλ°μ§ μ κΈ°ν¨μ
λνμ§λ§, μ¬λ§ν μ¬λλ§νΌ μ΄μ μ μνλ€μ.μ΄λ―Έ μμ±λ κΈ°μ μ΄λΌκ³ β¦ pic.twitter.com/8pAidHBpRG
β μ΄μμ κ΅νμμ (Soyoung Lee) (@im_soyounglee) December 17, 2025
Her translated post says:
“Finally, today I got to experience Tesla FSD in Seoul. Thanks to the Model S sponsored by JiDal Papa^^, Iβm truly grateful to Papa. The route was from the National Assembly -> Mangwon Market -> Hongik University -> back to the National Assembly. Having already ridden in an unmanned robotaxi, the novelty wasnβt as strong for me, but it drives just as well as most people do. It already feels like a completed technology, which gives me a lot to think about. Once it actually spreads into widespread use, I feel like our daily lives are going to change a lot. Even I, with my license gathering dust in a drawer, donβt see much reason to learn to drive a manual anymore.”
Tesla Full Self-Driving officially landed in South Korea in late November, with the initial launch being one of Tesla’s most recent, v14.1.4.
It marked the seventh country in which Tesla was able to enable the driver assistance suite, following the United States, Puerto Rico, Canada, China, Mexico, Australia, and New Zealand.
It is important to see politicians and figures in power try new technologies, especially ones that are widely popular in other regions of the world and could potentially revolutionize how people travel globally.
Tesla dominates in the UK with Model Y and Model 3 leading the way
Tesla Insurance officially expands to new U.S. state
