Lucid (NASDAQ: LCID) Stock Price Prediction and Forecast 2025-2030 (May 2025)

Late last year, Lucid Group Inc. (NASDAQ: LCID) began production of its highly anticipated Gravity luxury electric SUV. The vehicle was touted for its impressive horsepower and acceleration, and for its long-range capabilities. The SUV is a driver for Lucid’s strong 2025 sales growth forecast as well. Also this year, the company announced it would acquire production facilities from bankrupt electric truck maker Nikola, as well as management changes, including the chief executive stepping down and the chief operating officer becoming interim CEO.

The stock was already in retreat before the announcement of the management transition. On last look the share price was down 16.2% year to date, underperforming the broader markets. The stock has been fairly volatile in the past year, with shares trading in a range of $1.93 to $4.43.

Luxury electric vehicle maker Lucid was a highly anticipated startup in 2021 when it went public through a reverse merger with the special purpose acquisition company (SPAC) Churchill Capital IV.

Bank of America called it the next “Tesla/Ferrari,” and Lucid promised to make the world’s most luxurious EVs. Majority-owned by the Saudi government’s Public Investment Fund (PIF) sovereign wealth fund, the merger attracted $4.5 billion in new capital. The stock quickly ran up from its opening price of $25.24 on July 26, 2021, to an intraday high of $56.70 on Nov. 30, giving it a market cap of $90 billion. It made Lucid more valuable than Ford Motor Co. (NYSE: F).

However, more than three years later, Lucid trades near $2.50 per share, a loss of 96% of its value. The decline is the result of production issues, sharply falling demand for electric vehicles (EVs), and a sticker price that was far greater than the market would bear.

Lucid’s grandiose plans to produce 49,000 EVs by 2023 and half a million by 2025 quickly fell apart. So far, it has delivered only 20,736 EVs to customers.

The question is where Lucid stock goes from here. 24/7 Wall St. offers readers insights into our assumptions about the stock’s prospects, what sort of growth we see in the stock for the next several years, and our best estimates for Lucid’s share price each year through 2030.

Lucid’s Performance

The table summarizes performance in share price, revenues, and operating losses from 2021 through 2024, its first years as a public company.

Revenue and operating loss in millions.

Now let’s take a look at Lucid’s production and delivery schedule for each quarter:

Source: Lucid Group SEC filings.

In the third quarter, Lucid had operating losses of over $770.5 million, meaning it lost $27,707 for every car it sold. And the more vehicles it makes, the more it loses, with little indication it can turn its operation around.

Looked at another way, Lucid Group lost almost $8.5 million every single day over the first three quarters of 2024.

Three Key Drivers of Lucid’s Stock Performance

Building the Saudi Arabian auto industry. The Saudi government is seeking to diversify away from its reliance upon oil for its revenue. It wants to create an auto industry from the ground up and Lucid is the vehicle it is using to develop it. The sovereign wealth fund is willing to invest heavily into the money-losing operation, having provided the EV maker with nearly $8 billion in funding.

Cutting prices. Lucid initiated a series of price cuts to keep pace with the rest of the EV industry amid waning demand, making them more competitive with Tesla Inc. (NASDAQ: TSLA).

EV technological superiority. Lucid got its start as a maker of electric drivetrains that it wanted to sell to other EV manufacturers, but changed direction to make the entire car. Its vehicles offer superior performance and range than Tesla, though at a significantly higher cost. Yet as it cut prices to remain competitive, performance declined to become just par with comparable Tesla.

Lucid Stock Forecast Through 2030

Fifteen analysts covering Lucid Group have a 12-month consensus price target of $2.53 per share. That implies fractional downside from where it currently trades, but targets range from a low of $1 per share (or 60.3% downside) to a market high of $5 per share (98.4% upside). Wall Street, on average, has a Hold rating on the stock.

Valuing Lucid’s stock price for the coming years, beginning with forecasted revenue of $1.08 billion for 2025, which represents 39% growth year over year. As Lucid has cut prices to spur demand, sales have grown, but it still has substantial unsold inventory. It makes it questionable how many new cars dealers will accept.

We shall assign Lucid stock a price-to-sales ratio of 5x as the market continues to assign a higher multiple to the automaker, which puts our price target at $3.44 per share.

Going into 2026, we estimate the price to be $4.77 per share despite weak sales growth of just 5% to $1.134 billion and a P/S ratio of 2.3, which puts it closer to its peers.

Yet, the new Gravity SUV, which starts at $81,400 for the Touring model and $96,400 for the Grand Touring model, suggests Lucid will find a very small, niche market for its EVs. Particularly because they will not be eligible for any federal tax credits, it could kill off demand.

There is also the question whether the Private Investment Fund eventually tires of pouring billions of dollars into an enterprise continuously losing billions. The EV maker’s cash burn is some $3 billion a year. Despite the fund’s desire to jumpstart a new auto industry and using Lucid Group to help its workforce develop the necessary skills, further financing could dry up.

Assuming Lucid continues to increase in sales, 24/7 Wall St. sees the share price reaching $7.84 by the end of 2030. That represents upside potential of about 211% for the stock by the end of the decade. Here is a look at how it gets there:

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