Rivian has revised its 2025 delivery forecast, blaming a shifting global trade environment that has been heavily influenced by Donald Trump’s second term as U.S. President. In a similar vein, Lucid is acknowledging rising costs due to tariffs but is holding firm on its production targets, expecting to produce 20,000 vehicles this year.

Read: Rivian’s Secret Stockpile Could Be Its Key To Defeating Tariffs

During the announcement of its first-quarter 2025 financial results, Rivian revealed a notable increase in gross profit, at $206 million to be exact. This marks the company’s second consecutive quarter of profitability, a significant milestone for the fledgling American EV manufacturer. It also makes Rivian eligible for a $1 billion investment from the Volkswagen Group, part of a broader partnership between the two companies.

Rivian’s First-Quarter Progress

The EV startup manufactured 14,611 vehicles in the first quarter, delivering 8,640 of them to customers. The company continues to make strides with its small R2 model, now building validation prototypes while expanding its manufacturing facility in Normal, Illinois.

The carmaker pointed out that while all its vehicles are manufactured in the U.S. and most of its materials either come from the US or are USMCA-compliant, the effects of tariffs, “evolving trade regulations,” and other policy changes have forced it to revise its delivery forecast.

Rivian now expects to deliver between 40,000 and 46,000 vehicles this year, down from an earlier projection of 46,000 to 51,000 vehicles. This adjustment means a potential reduction of up to 5,000 vehicles, equating to a 10% drop at the higher end of the original forecast and a 13% decline at the lower end.

On top of that, Rivian estimates that tariffs could add thousands of dollars to the cost of each vehicle. However, the company does appear to have one ace up its sleeve: a stockpile of batteries, which, according to reports, it’s been quietly accumulating since before the election. This stash could serve as a buffer against the pricing pressures triggered by Trump’s auto tariffs.

“This quarter we hit our second consecutive gross profit and our highest gross profit to date at $206 million,” added company founder and chief executive RJ Scaringe. “We have continued to make significant progress on R2, including vehicle validation builds underway and our Normal, Illinois manufacturing facility expansion on track.”

Despite Slow Start, Lucid Aims High

Meanwhile, Lucid wrapped up Q1 by building 2,212 vehicles, excluding 600 currently being shipped to Saudi Arabia. The company also delivered 3,109 vehicles during the quarter, posting $235 million in revenue. Despite the ongoing challenges, Lucid ended the quarter with a healthy liquidity position of $5.76 billion and is still on track to build approximately 20,000 vehicles this year.

Buying into the latest automotive trend can feel like stepping into the future, until that future leaves you stranded at the service center. Sometimes the cutting edge cuts a little too deep. That’s exactly what went down with one Lucid owner who picked up an Air Pure AWD in 2023. Less than a year later, he’s moving on to an Acura. The car itself? Solid. The ownership experience? Not so much.

More: Rivian Owner’s Quality And Service Nightmares Expose The Pain Of Being A ‘Beta Tester’

“When you buy a Lucid, you’re not just getting a stylish, fun-to-drive EV – you’re buying into an experience. And sadly, that experience has been… underwhelming.” Those are the words of a now-former Lucid driver in what he openly admits is a bit of a rant, posted online.

Lucid “Can’t Tell Its Right Hand From Its Left”

Posted to Reddit, this story details one owner’s experience with what it’s like to own a car from a young automaker. They report leasing the vehicle in 2023, and that it spent two out of twelve months in the shop. Reported issues include malfunctioning windows, a stuck frunk, buzzing speakers, trim problems, unreliable phone connectivity, and what the owner describes as a company that is “completely lost, unable to tell its right hand from its left.”

It gives the impression that different departments aren’t communicating, and some representatives don’t bother reviewing customer notes before reaching out. According to the post, one Lucid employee said a lease buyout was possible, while another insisted it wasn’t. After inquiring about the buyout, the owner was then contacted – ironically – not with answers, but with a sales pitch for another Lucid.

Good Car, Awkward Company

All companies screw up from time to time, but this owner reports that they haven’t received a single call or message to ask about why they wanted out of their lease. To this (now former) owner, Lucid is missing one big thing: “They’re not just selling a car – they’re selling a luxury experience. And right now, they’re only delivering half of that,” they say.

On the plus side, that last comment hints at the silver lining here. Lucid might still be trying to figure out the service and customer experience side of the business, but they have built a very good EV. “The car itself? Terrific. A blast to drive,” the owner said said. Interestingly, the Lucid will be replaced by an Acura ZDX. So, why did they chose this particular car?

More: Service Nightmares Leave Lucid Owner Considering Ditching $100K EV

“The ZDX feels like a refined, luxury version of [a Honda Prologue]”, they explained. “No, it’s not as thrilling as the Lucid, but I’ll take reliability, a responsive local dealer, guaranteed loaners, and half the insurance cost any day. Plus, the lease is in the mid-$300s with zero down.”

Ultimately, this seems like a pretty typical example of what can happen when you buy a car from a startup EV company. Sure, issues like these can crop up with any brand, but they tend to hit early adopters of newer automakers more often.

When anyone is evaluating two vehicles, the MSRP is always one of the major metrics considered alongside horsepower, zero to 60 mph (100 kmh) times, fuel economy and, now with EVs, range figures. But a huge discrepancy in lease costs between Lucid’s Gravity SUV and the Air sedan reminds us that MSRP is actually irrelevant to many new car shoppers. It’s what they pay each month that matters.

And in the case of the electric Gravity, that monthly cost is far higher than it is for the Air, despite the SUV having a much lower MSRP, Cars Direct discovered. The website describes the Gravity as “a terrible vehicle to lease” due to its steep circa-$1,380 monthly lease cost, which is around 30 percent above what you’d pay to run an equivalent Air sedan.

Related: How To Lease A $69K Lucid Air For Just $510 A Month With $0 Down

Although Lucid says a more affordable Touring trim will join the SUV’s lineup later this year, for now you can only get it in Grand Touring spec. Its MSRP is $96,640, which looks good value next to the $112,400 Air Grand Touring.

But by the time you’ve factored in a down payment of $8,030 and the acquisition fee of $995, Lucid’s quoted $1,099 per month lease cost for a 36-month contract has ballooned to $1,380 before fees and taxes. Compare that with the Air Grand Touring, which costs $849 per month and a true price after down payments and fees of around $1,070.

So why does the Gravity cost $310 more to lease when it’s almost $16k more expensive to buy outright? The difference is down to the amount of rebates Lucid offers for the Air: they’re almost twice as big as the ones for the Gravity and include a $5,000 Air Credit, $1,000 On-Site Vehicle Bonus, and a $2,000 Conquest Offer, Cars Direct explains.

Right now the Air looks better value, especially since you can also order it in lower trim levels that really ramp up the savings. Go for the Air Touring and your overall monthly lease cost comes in at $731, which is close to half what the (admittedly better equipped) Gravity will cost you.

Electric vehicles might be the future, but profitability? That’s still a rare luxury in the EV world. An interesting study has revealed that just four EV-only brands are currently operating at a profit, while many others continue to bleed money at impressive rates. It probably won’t shock anyone that Tesla and BYD are leading the charge, but some of the other top-performing names are a bit less expected.

Read: Only 1 In 7 Of Today’s Chinese EV Brands Will Be Profitable By 2030, Analysts Claim

The study examined the operating income ratios of major EV brands and found that in 2024, Tesla reported an operating margin of 7.2%, putting it just ahead of BYD at 6.4%. However, while Tesla’s margin has declined since 2023, BYD’s has been climbing. If that trajectory holds, as many analysts expect, BYD could soon surpass Tesla in operating profitability.

Vertical Integration Pays Off

Key to the growth of both of these brands is that they are vertically integrated, helping them to scale and reach profitability sooner. The only other two brands analyzed by the study to have reached profitability are China’s Li Auto and the Series Group, which includes the Seres, Aito, and Landian brands.

While none of the other EV brands analyzed turned a profit in 2024, a few are edging closer. Zeekr, part of the Geely group, reported an operating margin of -8.5% last year. But with sales on the rise, it may soon begin delivering profits for its parent company. Xpeng and Leapmotor are also moving in the right direction, having more than halved their losses between 2023 and 2024.

Nio is another important player in China’s EV market, but not a profitable one. Its 2024 operating margin came in at over -30%, suggesting it still has a long climb ahead before it sees black ink on its balance sheet.

Tesla Stands Alone Outside China

Tesla remains the only non-Chinese EV brand to hit profitability. Polestar hasn’t crossed that threshold yet, though it did manage to reduce its losses in 2024. Similarly, Rivian also remains in the red, though like Polestar, it continues to receive substantial external funding.

At the other end of the spectrum, Lucid holds the dubious honor of running the steepest losses in the EV sector. According to data from Rho Motion, its 2024 operating margin was -374%. That’s an improvement from over -500% the year before, but still, not exactly a sign of financial health. Heavy backing from Saudi Arabia is helping Lucid stay afloat despite the massive shortfalls.

If you happen to own a Lucid Air equipped with the optional all-weather floor mats, you might want to brace yourself for some unexpected news. The carmaker is issuing a recall notice, as there’s a chance these floor mats could shift out of position and interfere with the throttle pedal, raising the risk of an accident.

Read: Lucid Tries To Snag Tesla Owners Fed Up With Musk With Up To $4K Off

Sound familiar? It’s eerily reminiscent of Toyota’s infamous floor mat debacle from over a decade ago, where improperly secured mats were blamed for a series of unintended acceleration incidents.

According to Lucid, its Model -00 all-weather floor mats are only secured in place by small nibs on the underside, rather than any proper anchors. This means they’re prone to slipping forward, and this can lead to unintended acceleration. That doesn’t just put occupants inside a Lucid at risk, but could also endanger other road users.

How Did This All Happen?

Lucid first became aware of a potential issue in August last year when a sales associate was driving an Air with the floor mats in Europe suspected the mat had slipped forward and caused the accelerator to stick. The company later became aware of 13 other cases of the floor mats moving, but there were no reports of it interfering with the accelerator.

However, on February 27, 2025, a U.S. customer reported an issue: while accelerating, the throttle pedal didn’t return to its normal position after being released. Lucid determined that the potential for the floor mat to shift and interfere with the pedal posed an unreasonable safety risk.

As a result, the company has stopped selling the problematic all-weather floor mats and now only offers mats that feature holes to attach to anchors in the carpet, as you’ll find in most vehicles.

Owners of Lucid Air models with the affected mats are being instructed to remove them and will receive a full refund for their purchase. If you’re unsure whether your mats are the faulty ones or the newer, anchor-secured type, simply take your vehicle to a Lucid facility for a free inspection.

The Lucid Air is undeniably one of the finest EVs on the market today. However, its premium price tag is enough to send many buyers looking for a less wallet-punishing alternative. Fortunately, there’s a way to make it more attainable: leasing. For as little as $510 per month with $0 down over 36 months, the entry-level Air Pure becomes a much more reasonable option for those craving a luxury all-electric sedan.

Lucid’s Incentives and Bonuses

Lucid is offering a slew of bonuses and incentives to convince customers to lease the Air Pure. For example, the American automaker has a $2,000 Conquest Credit available to current owners or lessees of a number of all-electric, hybrid, and gas-powered cars.

Read: Lucid Introduces Its Most Affordable Car Yet, The $77,400 Air Pure RWD

These include models from brands like Tesla, Acura, Audi, BMW, Cadillac, Genesis, Infiniti, Jaguar, Land Rover, Lexus, Mercedes-Benz, Maserati, Porsche, Volvo, Alfa Romeo, Bentley, Aston Martin, Ferrari, Lamborghini, Ineos, Rolls-Royce, McLaren, Mini, and Lotus.

In addition, those who select a Lucid Air Pure from the existing inventory at a sales studio will receive an additional $2,000 on-site bonus. Buyers can also make easy use of Lucid’s Referral Program and get a further $500 discount on an Air Pure if they use the referral code of an existing owner.

The single most generous offer is the Studio Select Discount, valued at $3,000. This is only available for certain inventory at select sales studios in the US, and may be hard to find for some.

The Fine Print and What You Need to Know

As noted by LeaseHackr that discovered this deal, Lucid’s online lease calculator might show a $3,500 downpayment, but that’s effectively erased if you stack the referral bonus and Studio Select Discount. With these incentives, it’s possible to lease the Lucid Air Pure for just $510 per month before taxes for 36 months—making it feel a little less like you’re splurging on a high-end tech gadget and more like you’re making a fairly smart financial move.

More: You Can Buy A New 470 HP Family Car With A 0-60 In 3.5 Seconds For $32K

These incentives, combined with the $7,500 federal EV tax credit, can effectively reduce the cost of an Air Pure from $69,900 to $52,470. It must be noted, though, that the $510 per month figure doesn’t include estimated upfront taxes, registration, and other fees.