4/2/2023 0 Comments Lucid news today![]() NIO’s trailing-12-month gross profit margin of 14.43% is 59.2% lower than the 35.33% industry average. The nation’s strict commitment to its Zero Covid policy hampered the company’s production, transportation, and delivery efforts, causing it to miss its annual delivery target of 150,000 units. On December 25, 2022, William Li, the founder and CEO of NIO, issued a warning, predicting that the first half of 2023 would be difficult for the company’s sales as a result of reductions in government subsidies and a general economic downturn that has suppressed domestic demand in China. Also, the company designs and manufactures e-powertrains, battery packs, and components. It provides both smart electric sedans and electric SUVs with numerous seating configurations. Headquartered in Shanghai, China, NIO designs, manufactures, and distributes smart electric vehicles. Within the D-rated Auto & Vehicle Manufacturers industry, it ranks #55 of 61 stocks.īeyond what we stated above, we also have LCID’s ratings for Growth and Momentum. The stock has an F grade for Stability, Quality, Value, and Sentiment. The POWR Ratings are calculated by considering 118 different factors, each weighted to an optimal degree. The stock has an overall rating of F, equating to a Strong Sell in our proprietary rating system. LCID’s poor prospects are also apparent in its POWR Ratings. The stock has plunged 40.8% over the past six months and 61.1% over the past year to close the last trading session at $10.93. Also, the company missed its consensus EPS estimates in three of the trailing four quarters. Moreover, the company is expected to report a loss per share of $1.25 for the current fiscal year (ending December 2023). ![]() ![]() As of September 30, 2022, total current assets came in at $4.16 billion, compared to $6.51 billion as of December 31, 2021.Īnalysts expect LCID’s loss per share to be $1.11 for the fiscal year that ended in December 2022. The adjusted EBITDA loss stood at $552.90 million, compared to $244.96 million in the prior year’s period.įurthermore, LCID’s net loss attributable to common stockholders came in at $670.25 million, worsening 27.8% year-over-year. Its loss from operations widened 38.3% year-over-year to $687.52 million. Furthermore, the stock’s trailing-12-month ROCE, ROTC, and ROTA of negative 46.49%, 27.38%, and 27.26% compare to the industry averages of 12.53%, 6.37%, and 4.34%, respectively.įor the fiscal 2022 third quarter that ended September 30, LCID’s total cost and expenses increased 77.6% from the year-ago value to $882.98 million. LCID’s trailing-12-month gross profit margin of negative 213.72% compares with the 35.33% industry average. LCID’s vehicle owners have reported six instances of power loss or gear malfunction to federal car safety inspectors since mid-September 2022.Īccording to car safety specialists, the number of complaints submitted to forums and the government is significant for a company that has supplied around 2,500 of its expensive cars as of September. Moreover, a year after LCID began delivering its sole product, the Lucid Air sedan, owners’ forums were swamped with complaints from users who claimed the vehicles either moved forward while in reverse or lost all power in the middle of the road. In the United States, the median projection for EV sales by 2030 is 35% of the new vehicle sales, down from 65% a year ago. Estimates for new vehicles sold as EVs have fallen significantly, ranging from 10% to 40% compared to 20% to 70% in the previous year. Furthermore, the strict requirements for federal incentives, mounting concerns about raw materials for batteries, and high vehicle prices add to the headwinds for the industry.Īccording to KPMG’s annual global auto survey, automotive executives are less bullish about EV adoption than they were a year ago. However, increasing borrowing costs and recessionary fears could constrain EV demand this year. Last year, automakers sold 807,180 fully electric vehicles (EVs) in the U.S., up 3.2% year-over-year, according to year-end figures released by market research firm Motor Intelligence. ![]() The electric vehicle (EV) industry’s growth over the past few years has been driven by strong demand, favorable government policies and funding, and rising fuel prices. ![]()
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