LCID Stock Rises Overnight: Lucid Reportedly Cuts Europe Workforce After Delivery Weakness And Delayed Launches

• Spain and Austria launches have reportedly shifted to 2027, while the U.K. launch slipped to early 2028.
• The company is moving toward a partner-led sales model using local dealers and importers.
• European demand remains weak, with just 54 registrations across four key markets in Q1 2026.

Shares of Lucid Group (LCID) rose 0.3% overnight late Sunday after a report said that the EV maker is slowing its European expansion and preparing regional workforce cuts before the end of September, adding to concerns over weak demand and a broader company reset.

LCID stock jumped 3% last week, logging its fourth straight weekly gain despite an 8% drop on Thursday. 

LCID Europe Rollout Slows 

Lucid had planned to enter several new European markets in 2026, including Belgium, Denmark, France, Italy, Spain and the U.K., while also expanding its physical footprint. The plan has apparently narrowed, with Spain and Austria reportedly being pushed to 2027, while the U.K. launch has slipped again to early 2028. The remaining 2026 push now appears centered on Belgium, Denmark, France and Italy, EV reported.

The slowdown comes as Lucid shifts toward a partner-led sales model in Europe, relying more on local dealers and importer groups instead of expensive company-owned studios.

Lucid registered 319 vehicles across Germany, the Netherlands, Switzerland and Norway in 2025, down from 470 a year earlier. In the first quarter of 2026, registrations across those four markets totaled just 54 vehicles. The pace remained weak in the following months, with 29 registrations in April and 35 in May. In Norway, one of the world’s most mature EV markets, Lucid has registered fewer than 40 vehicles since opening in Oslo in 2023.

The numbers highlight the challenge facing the Air sedan and Gravity SUV in a region where Lucid’s current models may be too large, too expensive or too niche to support rapid expansion.

Lucid Turnaround Efforts

Lucid recently announced leadership changes under CEO Silvio Napoli, saying the moves were designed to “simplify the company’s structure, sharpen accountability and improve execution.” The company also said that the changes halve the number of direct reports to the CEO.

Lucid also named Alexander De Bock as incoming CFO, while current CFO Taoufiq Boussaid will leave after supporting the company through second-quarter results. The company also appointed new executives across tech, customer operations, transformation, digital functions and program management.

Lucid produced 4,774 vehicles and delivered 3,953 vehicles in the second quarter ended June 30. The company will report full second-quarter financial results on August 4.

How Do Retail Traders Feel About LCID?

On Stocktwits, retail sentiment for LCID slipped to ‘bullish’ from ‘extremely bullish’ levels a day ago amid an 80% jump in 24-hour message volumes.

One user said, “'It's a bull market': Wall Street sees more upside in stocks for the second half of 2026. Les go LUCID”

Another user said, “$LCID i see a shuddering bankruptcy of this dangerous company..partnerships being canceled ..be careful here.. very low FCF and their tech has not matured in all these years...i would stay away”

LCID stock has declined 70% over the past year. 

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