Lucid is providing a $7,500 discount on the purchase of a new Air through leasing with Lucid Financial Services, following Tesla’s recent price reduction on their vehicles.
“Starting now, customers who lease any Lucid Air through Lucid Financial Services will receive an automatic $7,500 saving in the form of a capital cost reduction,” the automaker wrote in a message to buyers posted to Lucid-Forum. “By taking advantage of this savings, customers get a lower monthly payment for their new Lucid Air. As always, we’re thrilled to be dreaming ahead with you.”
Lucid Motors has recently raised prices on their Air vehicles by $10,000 to $15,000, depending on the trim level, citing supply chain challenges. This change occurred less than a year after the initial pricing.
Lucid Motors will reduce prices on its luxury electric car, the Air, by as much as $75,000. This move follows a similar decision made by Tesla, which cut prices by up to $13,000 in the US and Europe on January 13.
The reason behind Lucid’s price cut is not clear, however, some speculate that the company is trying to maintain its high profit margins by lowering prices below its competitors before a potential slowdown in demand due to an impending recession. However, the company have been experimenting with discounts since late last year.
Lucid Motors offered a discounted price for their Air EV to customers who had initially reserved the car but later declined to place a formal order. The automaker also introduced a budget-friendly version of the Air and reached out to customers who had cancelled multiple times in an effort to salvage the sale. These actions suggest that demand for the Air EV may not be as strong as desired.
