Lucid Group delivered 3,806 vehicles and produced 2,954 in the third quarter ended September 30, 2026, as the luxury EV maker deliberately reduced output to better align inventory with demand. Production fell 54% from a year earlier and 38% from the second quarter, marking Lucid's third consecutive quarterly production decline and its lowest output since the first quarter of 2025. Deliveries were roughly flat sequentially and about 200 vehicles below the third quarter of 2025, while exceeding production by 852 vehicles. New CEO Silvio Napoli has eliminated about 1,500 jobs, streamlined management and ended a second shift at Lucid's Arizona factory under a plan targeting $1.4 billion in 2026 cash-flow improvements. Lucid has also delayed the Cosmos, a planned EV expected to start below $50,000, while seeking to avoid the execution problems Napoli said had hurt the company. Rival Rivian shipped nearly 20,000 vehicles in the quarter, up from 12,194 in the second quarter during the first full quarter of R2 production. Lucid's performance remains far below projections made when it went public through a special purpose acquisition company in 2021, when it forecast as many as 90,000 deliveries in 2024.