EV NewsLucid Cuts Prices on Air Sedans, Regaining Competitive Edge

Lucid Cuts Prices on Air Sedans, Regaining Competitive Edge

Lucid Motors recently unveiled a price reduction across most of its Air electric sedan models, placing the Air at an attractively lower bottom-line price versus that of Tesla Model S sedans.

Lucid Air Pure starts at $83,900, including its $1,500 destination fee, offering an EPA-rated range of up to 410 miles with standard 19-inch wheels or 384 miles when upgraded to 20-inch wheels.

Tesla Model S Dual Motor prices start at $89,880, including the destination fee ($1,390). It boasts an EPA-estimated 405-mile range when fitted with standard 19-inch wheels or up to 375 miles when using available 21-inch wheels.

Lucid has also announced that its rear-wheel-drive Lucid Air Pure Single Motor will be available in September, starting at $78,900.

Air Touring models start at $96,500, while Grand Touring models start at $127,100. Lucid Air Touring models boast up to 620 horsepower with up to 425 miles of EPA range; Grand Touring versions can reach 1,050hp with their larger 112-kwh battery packs (compared with 92kwh batteries in previous models).

Lucid noted that these prices represent a return to the initial pricing of the Air, which initially started at $71,400 ($69,900 before destination) with tax credits applied; under new rules, however, this vehicle no longer qualifies.

Lucid likely hopes that lowering prices will boost sales as it has struggled to meet customer demand. Lucid produced 2,173 vehicles at its Arizona factory during Q2, while 1,404 went out the door – which brought its total year-to-date total up to 4,4887 produced and 2,810 delivered – through June.

Price drops may also be in response to Tesla, who has been offering discounted Model S models and have reduced starting prices by an impressive $10,000 since June.

Still to be determined is how Lucid Air sales will react to its price drop, yet it is evident that Lucid is poised to compete with Tesla in the luxury electric sedan market.

Here are more details regarding the price drop:

  • Price cuts apply to all Air models except Lucid Air Dream Edition, which is no longer available, and are effective immediately.
  • Lucid Motors is offering all Air models a $7,500 federal tax credit and has reduced prices accordingly, likely due to competition with Tesla and other EV manufacturers and reduced battery costs.
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