Lucid Motors has announced another reduction in price, this time on its premium variants of the Lucid Air sedan. The latest price cut follows the trend set by Tesla earlier this year, which prompted many other manufacturers, including Lucid, to reduce their prices in response. Lucid’s previous $7,500 cut in Air leases has now been extended to purchasing the Air Touring and Grand Touring models.
Although the luxury Air sport sedan does not currently qualify for the $7,500 Federal tax incentive, Lucid is still offering its own discount of $7,500. According to Zak Edson, Vice President of Sales and Service, “We believe that our customers deserve a credit for choosing an electric vehicle, and with this limited-time offer, we hope to get the Lucid Air into the hands of even more customers, allowing them to experience its exceptional features for themselves.”
In January, Lucid had already announced a $7,500 discount on the Air sedan, however, this was only available on vehicle leases, making it less appealing compared to options from competitors like Tesla and Mercedes. The latest discount, however, applies to purchasing the premium variants, making Lucid’s offer more competitive.
The Lucid Air Touring now starts at $107,400, becoming a sub-$100,000 vehicle after the discount. However, the Lucid Air Grand Touring still starts at $138,000. The Air Pure base model remains the most affordable offering from the company, priced at $87,400, but it is not part of the current discount promotion.
Despite being a newcomer in the auto industry, Lucid has managed to establish a unique position in the market, particularly in light of the recent entry of big brands like Mercedes. Although the Mercedes EQS sedan is often compared to the Lucid Air, it boasts a significantly higher performance. Nevertheless, Lucid has continued to thrive and is working towards a massive increase in production this year and the launch of a new model soon.
It is uncertain whether Lucid’s discount will be enough to attract potential Mercedes or Tesla customers, as the market for luxury EVs continues to grow and competition intensifies. Nevertheless, Lucid has faced this challenge before and has persevered, and hopefully this year will bring more success for the luxury EV maker and the EV industry as a whole.