Weekly Automotive Pit Stop: LCID trims in soft BEV market; F gains in JD Power study

Research evidence excerpt

Weekly Automotive Pit Stop: LCID trims in soft BEV market; F gains in JD Power study

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Automotive Industry

Weekly Automotive Pit Stop: LCID trims in

soft BEV market; F gains in JD Power study

Industry Overview

Ford improves in JD Power study; Chevy strong historically 26 June 2026

JD Power recently released their 2026 Initial Quality Study, which measures new vehicle Equity

quality using total number of problems per 100 vehicles experienced in the first 90 days Global

of ownership as its focus metric. In the 2026 study, Ford ranked #1 among mass market Autos/Car Manufacturers

brands, which was its largest jump in the rankings since we began tracking the data in Alexander Perry

2007, as problems per 100 vehicles declined by 21% y/y. We think Ford’s improvement Research Analyst

has largely been driven by its re-organization of its industrial platform under COO Kumar BofAS+1 646 855 1365

Galhotra that occurred in 2023. Over 20 years of history, Ford ranks #8 in average aperry3@bofa.com

problems per 100 vehicles among mass market brands. Kia ranks number 1 with the Jack Joyce, CFA

Research Analyst

least amount of problems on avg. followed by Chevrolet and Hyundai. BofAS

+1 646 556 2798

Lucid resizing to weaker US BEV demand backdrop jack.joyce@bofa.com

Lucid filed an 8K this week that highlighted a $158mm annualized cost savings program

that includes an elimination of its second shift at its AMP-1 factory, an 18% workforce

reduction, and the departure of COO (and former interim CEO) Marc Winterhoff. The

Stock symbol keycompany estimates that it will incur ~$32mm of cash charges, underscoring a more Adient Plc ADNT

explicit pivot toward cost reduction and cash preservation under new CEO Silvio Napoli. Aptiv PLC APTV