Lucid Debuts Cheaper Air Sedan to Boost Demand in Late 2023
With inflation and the job market being as challenging as it is today, it shouldn’t come as a surprise that some companies selling high-end products are having difficulty appealing to broad swaths of the American public. Lucid is one such company, and the automaker is coping with a slide in demand by offering less expensive versions of its vaunted – but very pricey – Air sedan.
The new Air starts at under $79,000, a far cry from the massive six-figure prices seen on some of its models, and $5,000 cheaper than the previously least expensive Lucid. Despite that surprising price cut, the car still delivers impressive specs. Lucid promises 410 miles of range from the EV, and it still gets a top-notch interior with a massive screen and luxury features. Of course, buyers can still add to that price with a $2,000 driver assistance package, an almost $3,000 stereo, and a $3,000 leather upholstery package.
Lucid’s third-quarter sales are nearly triple what they were in late 2022, but company leadership still cut production estimates for the year. The automaker’s stock has also tumbled and is down by around two-thirds over the last year.
Though some of Tesla’s models are much cheaper than Lucid’s, it’s also cutting prices to drum up demand. It cut pricing on the Model 3 by more than $1,000, and the company recently reintroduced the entry-level Model Y, which is significantly cheaper than the other variants.
[Image: Lucid]
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Chris grew up in, under, and around cars, but took the long way around to becoming an automotive writer. After a career in technology consulting and a trip through business school, Chris began writing about the automotive industry as a way to reconnect with his passion and get behind the wheel of a new car every week. He focuses on taking complex industry stories and making them digestible by any reader. Just don’t expect him to stay away from high-mileage Porsches.
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PS it is ridiculous to report the sales as "triple those of 2022". If they sold 10 units in 2022 and 30 in 2023, they are in deep doodoo. ACTUAL SALES NUMBERS PLEASE.
Nice looking car.
I am waiting to see what VinFast puts out and how it does.
These have a lot of presence in person, more than anything Elmo makes. If I could afford a Touring with the glass roof I'd be pretty interested.
What does Saudi Lucid really hope to accomplish, if anything, with this price cut?
The segment Lucid operates is very low volume, ie, irrelevant. THere are all kinds of Euro and Caddy and Tesla models in it already.
At best, the price cut may enable Saudi Lucid, at a big hit to its bottom line, to get rid of its unsellable inventory before its Saudi Sugardaddies cry "uncle" and it goes Belly Up, along with Fisker, Faraday Future, and all the other Non-Tesla BEV Startups. WIth the possible exception of Rivian.