February 22, 2024

Lucid is promoting a number of of its electrical automobile fashions at a reduction till November 30, and as Reuters notes, it is one other signal that the EV market goes by interval of sluggish demand within the midst of harder competitors. The automaker is now promoting the 2023 Air Pure All Wheel Drive (AWD) for $74,900, down from $82,400. In the meantime, the Air Touring now prices $87,500 as an alternative of $95,000, and the Air Grand Touring will set patrons again $10,000 much less at $115,600 as an alternative of $125,600. Lucid is providing these reductions as “Air Credit,” which the corporate launched throughout an earlier spherical of worth cuts.

“We expect our clients nonetheless deserve a $7,500 credit score for selecting an EV,” Zak Edson, Lucid’s Vice President of Gross sales and Service, stated again in February. Consumers can get federal tax credit of as much as $7,500 for electrical autos inside sure worth ranges, however Lucid’s luxurious sedans are too costly and do not qualify for the motivation.

To notice, clients can solely avail of Lucid’s reductions if they’ll take supply inside seven days of their order being prepared. One of many firm’s fundamental causes for slicing costs appears to be to promote its present stock, as a result of the limited-time affords solely apply to “vehicles for fast supply.” Upon checking its obtainable autos, Lucid has dozens of the aforementioned fashions obtainable for patrons throughout the subsequent two weeks.

Lucid is not the one EV-maker to chop its costs greater than as soon as over the previous yr. Tesla notably lowered its costs a number of instances since 2022, the newest of which was introduced after it revealed that it fell wanting market estimates for deliveries within the third quarter of 2023.

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