In a move to boost sales and clear out inventory, Lucid Motors has announced significant price cuts on its Air luxury electric vehicle models. The discounts, which are available until November 30, range from $7,500 to $10,000, making these high-end EVs more accessible to potential buyers.
The decision to reduce prices comes amidst a period of slower demand and increased competition in the electric vehicle market. Lucid is not alone in this strategy, as other manufacturers, including Tesla, have also implemented price cuts in recent months.
So, what are the specific price reductions? The 2023 Air Pure All Wheel Drive (AWD) is now priced at $74,900, down from $82,400. The Air Touring is available for $87,500, reduced from $95,000, and the Air Grand Touring can be purchased for $115,600, down from $125,600.
MORE FROM RAVZGADGET: Daimler Begins Manufacturing Freightliner eM2 Electric Trucks
These discounts are being offered as “Air Credits,” a concept introduced by Lucid during a previous round of price cuts.
The company believes that customers should still receive a $7,500 credit for choosing an electric vehicle. However, it’s worth noting that Lucid’s luxury sedans do not qualify for the federal tax credit of up to $7,500 available for electric vehicles within certain price ranges.
In order to take advantage of these limited-time offers, customers must be able to take delivery of their vehicle within seven days of their order being ready. This requirement is aimed at selling Lucid’s current inventory, as the discounts only apply to cars available for immediate delivery.
Upon checking Lucid’s available vehicles, it appears that there are dozens of the discounted models ready for buyers within the next two weeks. This presents a unique opportunity for those in the market for a luxury electric vehicle.
Lucid’s decision to cut prices is a strategic move to stimulate demand and stay competitive in the evolving EV market. By making their high-end EVs more affordable, they are increasing their appeal to a wider range of consumers.
It’s worth mentioning that Lucid is not the only automaker to implement multiple price cuts in recent times. Tesla, a key player in the industry, has also reduced its prices on several occasions, most recently due to lower-than-expected delivery figures for the third quarter of 2023.
As the electric vehicle market continues to evolve, it’s clear that price adjustments are a common strategy employed by manufacturers to attract customers and remain competitive. These price cuts by Lucid Motors provide an excellent opportunity for individuals interested in luxury EVs to make their dream of owning one a reality.
