Lucid Motors Shares Fall 9% Following Price Target Cut and French Expansion Plans
Lucid Group, Inc. (LCID) announced plans to enter the French market in the first quarter of 2027, introducing its Air sedan and Gravity SUV. Working alongside local partner Emil Frey France, the electric vehicle manufacturer aims to build out a network of more than 16 retail and service locations by the end of 2027. Despite the expansion announcement, shares dropped over 9% on Monday after an analyst reduced the company's price target from $7 to $4.
The move into France comes as the automaker grapples with slowing demand and reduced output. During the third quarter of 2026, the company produced 2,954 vehicles—a 38% decline from the prior quarter—while delivering 3,806 units to clear existing inventory. European sales have remained flat, with approximately 256 vehicle registrations recorded across its five current European markets through September. Consequently, entry into other regions like the United Kingdom has been postponed to early 2028.
Investors will be watching how the company manages its upcoming product strategy as its stock has fallen 68% year-to-date. Next year, the EV maker plans to introduce Cosmos, its first vehicle on a new mid-sized platform designed to offer a lower-priced alternative to its current luxury lineup.
Key points
- Lucid Motors plans to begin sales in France in Q1 2027 with partner Emil Frey France, aiming for over 16 locations by year-end.
- Shares of LCID fell over 9% on Monday after an analyst cut the price target on the stock from $7 to $4.
- Third-quarter 2026 vehicle production fell 38% quarter-over-quarter to 2,954 units amid slowing demand for premium electric vehicles.
- The automaker plans to roll out Cosmos, a lower-priced mid-sized platform vehicle, next year.
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How we writeDisclaimerQuestions and answers
When will Lucid Motors begin selling vehicles in France?
Lucid Motors plans to start selling its Air sedan and Gravity SUV in France during the first quarter of 2027, partnering with Emil Frey France to set up over 16 locations by the end of that year.
Why did Lucid stock drop on October 12, 2026?
Lucid stock fell more than 9% after an analyst lowered the price target on the company from $7 to $4, citing persistent soft demand for high-end electric vehicles.
What is Lucid's cheaper upcoming electric vehicle?
Lucid plans to launch its first mid-sized platform vehicle, named Cosmos, next year to offer a more affordable option alongside its current luxury models.