Tesla Is No Longer The Fastest Production Car Ever Made

Its been a tough year for Elon Musk's Tesla Inc TSLA shares, as the once-powerhouse stock is down nearly 61% year to date.

To add insult to injury,Tesla is no longer the fastest production car ever made with its Model S Plaid beatin a race by a heavier car.

What Happened: The Lucid Group Inc LCID Air Sapphire, which weighs 5,291 pounds compared to the Tesla Model S Plaid's 4,766 pounds, outperformed the Tesla model in a quarter-mile race, making it the fastest production car ever made. Both are electric vehicles.

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The Air Sapphire was two-tenthsfaster than the Tesla, which finished in 9.3 seconds and had a top speed of 152 mph.The Air Sapphirecrossed the finish line in 9.1 seconds, at a top speed of 156 mph.

A Bugatti Chiron Pur Sportparticipatedin the race and finished the quarter-mile in 9.3 seconds, tying the Tesla. The Chiron is thequickestgas-burning car in production.

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Why It Matters: Lucid revealed earlier in October it built 2,282 vehicles during the third quarterat its Arizona manufacturing facility and delivered 1,398 of them. The nascent car maker also stated it was on target to meet its previously stated production guidance of 6,000 to 7,000 vehicles for the entire year 2022.

The Lucid Air Sapphire will be available in the first half of 2023as a limited-production model for the price of $249,000 ($325,000 CAD) in the U.S. and Canada.

Watch the race below:

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Photo: Screenshot from Hagerty video