Exciting new EV model sells out one day after being listed online: 'Our daily order rate has nearly doubled'

Lucid is off to a fantastic start, with its first-ever EV SUV seemingly sold out of the online inventory within 24 hours of posting it. Apparently, consumers are impressed with the three-row luxury EV, with sales potentially forcing Lucid to strategically modify its supply chain approach.

"Our daily order rate has nearly doubled," Mark Winterhoff, Lucid's interim CEO, said, addressing Gravity's availability, surge in demand, and investors.

Major automotive critics are bolstering demand, with mostly positive reviews highlighting the well-weighted steering, quick acceleration, efficiency, spacious interior, clever packaging, and versatility.

The EPA is estimated at 450 miles, with one of the most efficient powertrains on the market.

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DC fast-charging capability (14 minutes at 400 kilowatts), 828 horsepower, sustainable materials with a premium feel, and an advanced driver assistance system are attractive selling points. For RVers and contractors, the 6,000-pound towing capacity is an exciting addition.

Lucid is a luxury brand, with its new SUV drawing comparisons to the Cadillac Escalade IQ. Though the potential consumer base is a bit smaller and the inventory is limited, Gravity's early success is a further indicator of the growing popularity and success of EVs.

Some flattening has been observed in the EV market, especially in the U.S., but EVs continue to grow at a fairly robust rate. Factors in the U.S., like uncertainty concerning policy shifts and the Inflation Reduction Act, are likely part of the slowdown.

Even Tesla's market share is falling. For most EV enthusiasts or first-time adopters, saving money, reducing maintenance, quieter rides, and a lack of tailpipe pollution are major incentives, with politics unfortunately being a limiting factor, at least in the U.S.

Still, 33% of Americans say they would seriously consider making an EV their next vehicle (Pew Research Center), and between 45% and 65% would consider a hybrid. The EV enthusiasm number jumps to 51% in a 2024 Gallup survey, and that's despite being down 4% from 2023.

As EVs continue to make headway, it's not surprising to see a luxury variation flying off the proverbial shelves, likely even more so when Lucid releases its lower-priced Touring Trim model. According to Winterhoff, "Most deliveries the rest of the year will actually be Gravity."