by Jonathan Eberle | Aug 12, 2025 | Economy, News
By Jonathan Eberle |
Lucid Group, the electric vehicle startup known for its luxury Air sedan, disappointed investors after missing second-quarter earnings expectations and trimming its production forecast for 2025.
The company reported $259.4 million in revenue for the quarter ending June 30, falling short of Bloomberg’s $262.4 million consensus estimate. While that figure marked an improvement over the $200.6 million recorded a year ago, Lucid posted a larger-than-expected adjusted loss of $0.24 per share and an adjusted EBITDA loss of $632.1 million.
Gross margins fell by 21%, which Lucid attributed to tariffs. The company ended the quarter with $4.86 billion in liquidity, a closely watched metric as it continues to burn cash. Production guidance for 2025 was revised to between 18,000 and 20,000 vehicles, down from the 20,000-target set earlier this year. In the April–June period, Lucid produced 3,863 vehicles and delivered 3,309, bringing its first-half totals to 6,075 units produced and 6,418 delivered.
For much of its short history, Lucid’s lineup consisted solely of the Air sedan. The automaker has recently begun ramping up production of the Gravity SUV, though early output has been modest. Fewer than 1,000 units were built in the first quarter, most of which went to Saudi Arabia, home to Lucid’s largest investor, the Saudi Public Investment Fund.
In 2016, the Arizona State government made a deal with Lucid to open operations in Arizona. At that time, the Arizona Republic reported that the company could receive as much as $46.5 million in taxpayer subsidies over time. The company’s primary manufacturing facility remains in Casa Grande, Arizona.
In July, Lucid announced a partnership with Uber to supply 20,000 battery-electric vehicles for a planned robotaxi service over the next five years.
Lucid’s near-term sales outlook also faces headwinds from the expected expiration of the U.S. federal $7,500 EV tax credit on Sept. 30. To bolster its stock price, the company plans a 1-for-10 reverse stock split, which would lift shares to roughly $10 based on current valuations and help avoid the risk of trading below $1. Shares of Lucid (LCID) fell nearly 2% following the earnings announcement.
Jonathan Eberle is a reporter for AZ Free News. You can send him news tips using this link.
by Jonathan Eberle | Aug 11, 2025 | Economy, News
By Jonathan Eberle |
The Greater Phoenix housing market continued its gradual reset in June 2025, signaling a clear shift in momentum from sellers to buyers according to a report from The Ravenscroft Group. Home prices dipped modestly, builders ramped up incentives, and buyers found themselves in the strongest negotiating position in years—marking a pivotal moment for one of the nation’s hottest real estate regions.
While not a repeat of the 2008 housing crash, market data shows a softening across key indicators, as elevated mortgage rates, seasonal slowdowns, and affordability pressures weigh on demand.
According to the group, the median sales price in Phoenix edged down to $449,500, a 0.3% dip from May’s $451,000. Phoenix’s Market Index—a measure of supply vs. demand—fell to 71, further cementing the area’s tilt toward a buyer’s market.
With 30-year fixed mortgage rates hovering around 6.89%, homebuilders are stepping in to maintain momentum. Many are offering interest rate buydowns into the mid-3% range, along with generous closing cost credits, appliance packages, and landscaping perks. This reality has made new construction homes particularly appealing to buyers, many of whom are priced out of the resale market due to borrowing costs.
Real estate trends varied across the Valley in June. Buckeye saw the steepest price shift at -8% while Fountain Hills and Phoenix proper each declined by -6%. Cave Creek transitioned into buyer’s market territory, and Avondale moved from a seller’s to a balanced market.
As of June, the groups says 2 cities are in seller’s markets, 7 cities are considered balanced, and 9 cities have shifted into buyer’s market territory. Outlying cities like Arizona City, Casa Grande, and Gold Canyon lean even more heavily toward buyers.
High recurring costs—such as HOA dues and special assessments—are driving buyers away from attached housing. The listing success rate for condos and townhomes dropped to 58% in May, the lowest since 2011. Manufactured homes fared worse, with fewer than half of listings resulting in a sale.
The Phoenix housing market isn’t collapsing—it’s correcting. Buyers are better positioned than they’ve been in years, and sellers are being forced to recalibrate.
This moment offers unique opportunities for those ready to act—especially in a region still driven by long-term population growth and economic expansion. But navigating it successfully will take strategy, patience, and flexibility on both sides of the deal.
Jonathan Eberle is a reporter for AZ Free News. You can send him news tips using this link.
by Jonathan Eberle | Aug 10, 2025 | News
By Jonathan Eberle |
Arizona lawmakers are intensifying their investigation into systemic failures within the state’s child protection system after the tragic deaths of three children—each of whom had prior involvement with the Department of Child Safety (DCS). Senator Carine Werner (R-LD4), Chair of the Senate Health & Human Services Committee, is spearheading the effort through a formal legislative probe targeting the state’s oversight of licensed group homes.
The investigation was first launched earlier this year following the gruesome murder of Emily Pike, a 14-year-old who ran away from a DCS-licensed facility in January and was later found dead. Now, with the deaths of Zariah Dodd, a pregnant 16-year-old fatally shot after leaving a similar facility, and Rebekah Baptiste, a 10-year-old who died despite multiple abuse reports to DCS, momentum behind the inquiry has grown significantly.
“These tragedies make it painfully clear that when our child protection systems—both state and tribal—fail, the consequences can be horrific,” Werner said in a statement. “We must explore opportunities for system improvement. That is the work ahead of us, and we will not stop until no child in Arizona falls through the cracks.”
The first stakeholder meeting of the Joint Legislative Oversight Committee on the Department of Child Safety will take place on Wednesday, September 3. It marks the second phase of a broader review process that will include legislative hearings, stakeholder input, and proposed reforms. While the meeting will be closed to the public and media, Werner is expected to brief reporters in the following days. Earlier this year, Werner called on the Arizona Attorney General’s Office to launch a formal investigation into DCS’s regulatory oversight. She has voiced serious concerns about “underlying systemic issues” that may be placing children and even staff at risk within state-licensed group homes.
“Arizona’s licensed group homes have repeatedly made headlines for egregious mistakes that have cost lives and threatened the safety of staff,” Werner said at the time. “There may be underlying systemic issues requiring immediate reforms, so we must assess where mistakes are occurring and determine the next steps.”
The Joint Oversight Committee’s work will involve officials from DCS, law enforcement, tribal governments, lawmakers from both parties, and social service providers. Their goal: assess current policies, examine communication breakdowns, and identify both short-term interventions and long-term legislative fixes.
As the investigation unfolds, Arizona finds itself once again grappling with the conversation of how to ensure that tragedies like these never happen again.
Jonathan Eberle is a reporter for AZ Free News. You can send him news tips using this link.
by Jonathan Eberle | Aug 9, 2025 | News
By Jonathan Eberle |
Arizona Public Service (APS), the state’s largest electric utility, announced Wednesday it will no longer pursue its previous pledge to achieve zero carbon emissions by 2050. The company also scrapped its interim emission reduction targets and removed a commitment to end coal-fired generation by 2031 from its website. The utility now aims to be “carbon neutral” by 2050 — a less stringent target that allows for continued fossil fuel use if emissions are offset through technology such as carbon capture.
“Our aspiration has evolved based on changes to energy markets and customer needs, and our plans are built around doing what’s right for the people and prosperity of Arizona,” said APS spokeswoman Jill Hanks in a statement to 12News.
The announcement quickly drew sharp criticism from environmental advocates, who accused the company of backing away from its public commitments. “APS is walking away from every clean energy promise it made to the public, to regulators, to shareholders, and to the communities it serves,” said Autumn Johnson, Executive Director of the Arizona Solar Energy Industries Association. “We are left with vague intentions and zero accountability.”
A free-market advocacy group also voiced concerns, though from a different perspective. The Arizona Free Enterprise Club argued that the new plan still comes with a heavy cost to consumers. “While this is modestly better than the carbon-free plan they have been pushing for the last five years, APS’ new ‘carbon neutral’ plan will still cost ratepayers billions,” said Scot Mussi, the group’s president. “The priority should be reliable and affordable baseload power for Arizonans, not meeting arbitrary carbon goals that require massive amounts of expensive wind and solar that will degrade the grid.”
Some of Arizona’s elected officials also weighed in. Arizona Governor Katie Hobbs criticized the decision on X, writing, “Arizona needs an abundance of energy, with a strong, and reliable grid to keep our communities safe and to continue our economic growth. This decision sets us back. It makes our air dirtier, hurts our growing clean energy economy, and forfeits the cost savings of renewable options.”
She continued, “I’ll be reaching out to APS to discuss their decision and reiterate that we must continue investing in new energy technologies and diversify our energy portfolio at the fastest rate possible.”
Hobbs’ response is interesting given her history with APS. After her inauguration, it was revealed that Pinnacle West Capital Corp., the owner of APS, donated $250,000 to Hobbs’ inaugural fund. The group also made a $100,000 donation in 2024 to Hobbs’ secret litigation fund.
Republican gubernatorial candidate, and sitting U.S. Representative, Andy Biggs offered a sharply different take than Hobbs, posting, “Every utility in our state should be prioritizing reliable and affordable energy for Arizonans, not trying to meet the demands of environmentalists pushing the Green New Scam that hurts Arizona businesses and families. As Governor, I’ll make sure Arizona aligns with President Trump’s energy agenda to help our economy flourish.”
APS data shows most of the state’s surging energy demand is coming from the expansion of data centers rather than residential growth. The company and its investors view the sector as a major opportunity for revenue.
While APS maintains it remains committed to expanding cost-competitive clean energy, the rollback represents a significant departure from the 2020 pledge.
Jonathan Eberle is a reporter for AZ Free News. You can send him news tips using this link.
by Jonathan Eberle | Aug 8, 2025 | Education, News
By Jonathan Eberle |
As schools across Arizona reopen for the fall semester, State Superintendent of Public Instruction Tom Horne is encouraging parents to be alert to classroom content they believe may conflict with their family’s values. His call follows a recent U.S. Supreme Court ruling affirming parents’ rights to withdraw their children from classes that conflict with their religious beliefs.
“The U.S. Supreme Court recently ruled that parents have the Constitutionally protected right to opt their children out of classes when their religious beliefs conflict with course material,” Horne said in a public statement. “As the new school year begins, I am urging parents to be aware they have the power to ensure their child’s school is concentrating on academics, not social indoctrination.”
Horne cited a case from earlier this year involving a Tucson-area teacher whose lessons, he claimed, undermined students’ religious beliefs and promoted gender ideology. According to Horne, the teacher has since retired, and the matter was resolved. “This is exactly the type of situation that was addressed in this recent Supreme Court decision,” he said.
To address concerns like these, the Arizona Department of Education operates an “Empower Hotline,” which allows parents, educators, and citizens to report what they view as inappropriate content in the classroom. Horne said the hotline has received complaints about lessons that focus on race, gender identity, or content perceived as deviating from traditional academic instruction.
“Students need education in reading, writing, math, science, history, and the arts,” Horne added. “The inappropriate lessons about which parents are complaining are a distraction from these crucial academic subjects. My principal goal has been to bring back academic focus into the classrooms.”
The Supreme Court decision referenced by Horne affirms long-standing interpretations of parental rights in education but has gained renewed attention amid ongoing debates over curriculum content in public schools across the country.
Jonathan Eberle is a reporter for AZ Free News. You can send him news tips using this link.
