Lucid Motors Slashes Prices and Offers Incentives for 2024 Air Models to Boost Sales

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Lucid Motors Slashes Prices and Offers Incentives for 2024 Air Models to Boost Sales

Lowered Prices, Bonuses, and Free Maintenance: Lucid Motors’ Innovative Approach to Attract EV Buyers

  • Lucid Motors Air offers various trims, including Pure, Touring, and Grand Touring, with both AWD and RWD options.
  • Prices for the 2023 model year range from $82,400 to $125,600, depending on the trim and drivetrain configuration.
  • The 2024 model year introduces adjustments in MSRPs, with prices starting as low as $69,900 for RWD Pure and going up to $125,600 for AWD Grand Touring.
  • Customers can expect both cost-effective and premium options within the Lucid Air lineup, catering to diverse preferences and budgets.

As Lucid Motors prepares to launch its second all-electric model this year, the automaker is taking steps to keep its flagship sedan, the Air, top of mind for consumers. Recently, Lucid announced a reduction in prices for its 2024 Air models, building on earlier price cuts and offering additional bonuses for charging and maintenance.

Lucid Motors ($LCID) is aiming for a rebound in 2024 after reporting a decrease in year-over-year deliveries in Q4 2023. Although the Lucid Air sedan has performed reasonably well, the company still has an abundance of EV inventory, prompting Lucid to implement demand-generating measures such as a referral program.

Beyond the Air, Lucid has multiple reasons for excitement. The Gravity SUV is set to make an impact in the all-electric SUV market later this year, and the company has revealed plans for a third mass-market EV targeting potential Tesla Model 3 or Model Y customers.

Currently, however, Lucid offers only the Air, a relatively new electric sedan that experienced significant price reductions with the introduction of its 2024 models. Nevertheless, the luxury EV with the highest range in the industry remains pricey for many.

To appeal to prospective buyers, Lucid Motors is addressing two primary concerns associated with EV purchases: cost and ease of ownership. Lucid has further lowered the prices of three of its four Air trims, including a substantial reduction for the RWD Air Pure.

Lucid Air price reductions Lucid Air Pure Stealth / Source: Lucid Motors Lucid Motors slashes 2024 Air prices by up to 7,500 Lucid Motors revealed its revised Air pricing in a press release today, with the entry-level RWD Pure model now starting below 70,000 (the automaker’s original target price before production began).

Even as Lucid’s most affordable EV currently available, the RWD Air Pure boasts an enticing 410 miles of EPA range (with 19″ wheels). The two higher Air trims, Touring and Grand Touring, have also seen price reductions. Here’s the comparison:

Model 2023 MY MSRPs (AWD) 2024 MY MSRPs (Dec 2023) 2024 MY MSRPs (Feb 2024)
Air TrimPureTouring (AWD) $82,400 $77,400.0 $69,900
Grand Touring (AWD) $95,000 $85,900.0 $77,900
2023 MY MSRPs $125,600 $NaN $109,900

 

The only Lucid Air model not receiving a price reduction is the tri-motor Sapphire, which is just beginning to roll off Lucid’s assembly lines at AMP-1. Being the American automaker’s top-tier model and one of the fastest mass-produced passenger EVs worldwide, a few thousand dollars off may not significantly impact buyers.

Alongside reductions in Air prices, Lucid Motors is addressing another concern for new EV shoppers: ease of ownership. Starting today, new Air customers will receive a 1,200, so customers can obtain one for just $200 after the credit.

Furthermore, Lucid is offering customers free scheduled maintenance with each Air purchase, valid for two years or 24,000 miles. Peter Rawlinson, CEO and CTO of Lucid Motors, spoke about the Air’s reduced prices and the added benefits for new customers:

“We are confident about the future of EVs and strongly believe in the necessity of increased adoption as a vital step towards reducing the impact of climate change. We have dedicated significant effort to enabling the Lucid Air lineup to deliver unmatched range and performance while using less energy. I’m thrilled that we can now share these advancements with our customers.”