EV maker Lucid Motors went through recent price cuts, and this of its step has been “well received by customers,” as per CEO Peter Rawlinson. Also, as per the company’s leader, the Gravity electric SUV launch is on track for November.
With the wave of price deductions that significantly started with Tesla last year. Lucid slice down its prices earlier this month on its Air EV, which is up to $12,400. This offering by the EV maker is entitled as a “Pure Summer Event,” while it features special lease and financing deals in the Lucid Air Pure AWD. All these deals are available on the Touring and Grand Touring models. And the promotion of the same runs through August 31.
Lucid new offered Pricing
Therefore those who looking to opt for a Lucid Air Pure can save $5,000. This is in accordance with a new listing price of $82,400, thus it is down from $87,400. Furthermore, the financing option is also available for 4.99% for up to 72 months. Lucid is also offering a lease deal that comprises $749 per month for 36 months, with $7,699 due at signing.
Talking about the pricing of its Air Touring then it is available at $95,000 including 4.99% APR financing or a $1,149 per month lease with $9,814 due at signing. This makes its total lease pricing including destination would be $112,400.
On the other hand, the 1,050 hp Grand Touring Performance with 516 miles EPA estimated range is on purchase for $125,600 or $1,399 per month lease with $10,899 due at signing. Precisely, both the models, i.e., Touring and Grand Touring are $12,000 off.
Lucid Air EV price cuts are increasing the customer’s interest
So far, the price cuts are working, according to Rawlinson. Lucid’s CEO told Yahoo Finance at the Pebble Beach Concours that it has seen an uptick in sales and increased interest in the brand following the promotional pricing.
As of now, the price cuts are working, as per Rawlinson. Lucid’s CEO told Yahoo Finance at the Pebble Beach Concours that it has observed a rise in sales along with increased interest in the brand after the promotional pricing.
Furthermore, Rawlinson added, the company reverted to its original pricing, which he believes “we got about right.” He added:
We hit some really inflationary challenges particularly in batteries as we got into the summer of ’22. (So) we had to take a price action accordingly. But I’m delighted to say we’re back to our original pricing structure and, and that’s been so well received by customers in the market alike.
Meanwhile, the EV maker is also ready to release its very first electric SUV, the Gravity. On the same, Rawlinson mentions that the thing is on track for its official debut. He said, “We’re going to have a real launch event, an unveiling this November. So watch this place, there’s going to be a world premiere, and I’m really excited.”
