EV Makers Face Demand Pressure as Delta Reviews Riyadh Route

Electric vehicle manufacturers released mixed operational updates as global demand signals remain uneven. Lucid Group Inc. (LCID) lowered its third-quarter production to 2,954 vehicles, down 38% from the previous quarter, after delivering 3,806 cars and missing Wall Street delivery forecasts of 4,687 units. Meanwhile, Polestar Automotive Holding UK Limited (PSNY) recorded 14,371 retail sales outside the United States in the third quarter, a modest 1% gain year-over-year that brought its nine-month total to 44,790 vehicles.

Tesla Inc. exceeded overall third-quarter expectations with 486,532 total vehicle deliveries, though Cybertruck sales continue to fall well short of initial targets three years after launch. In addition, fewer than 1,000 Tesla vehicles were delivered in India during the quarter, highlighting a slow start in that expansion market. The contrasting figures reflect broader manufacturing adjustments and changing demand patterns across international markets.

Outside the automotive sector, Delta Air Lines Inc. (DAL) is evaluating whether to proceed with its scheduled Oct. 23 daily service between Atlanta and Riyadh following deadly security incidents at Riyadh’s King Khalid International Airport. Investors should monitor upcoming commercial launch updates from Delta, along with inventory management and market expansion efforts across the electric vehicle industry.