Lucid Motors Wants You To Buy an EV so Bad, They’ll Pay You $8,000
Lucid Motors bills its Air electric sedan lineup as a purposely over-engineered alternative to other high-voltage options. That, and the Air Grand Touring has an estimated range of 516 miles, a segment-leading figure. However, even with explosive thrust and road-trip-friendly range, demand has pushed Lucid to drop its Air prices by as much as $8,000.
The Lucid Air luxury electric sedan gets price cuts across the lineup
Lucid Motors lowered its prices across its Air lineup. That’s good news for luxury EV buyers who want an alternative to the Tesla Model S or Porsche Taycan. However, the news arrives as a consequence of troubling year-over-years sales follies.
| Model (2024) | New starting price | Pre-price cut |
|---|---|---|
| Air Pure | $69,900 | $77,400 |
| Air Touring | $77,900 | $85,900 |
| Grand Touring | $109,900 | $110,900 |
It’s certainly an improvement over the 2023 lineup. For instance, the 2023 Lucid Air Grand Touring had a starting price of around $114,600. Of course, that value also reflected a credit. What’s more, a “well-equipped” Grand Touring edition qualified for a $10,000 EV credit last year, meaning its pre-incentive starting price was closer to $125,000.
Lower demand is the culprit. According to Teslarati, Lucid Motors cut its prices in response to troubling fourth-quarter performance. Specifically, the California electric vehicle marque reported a Q4 performance of 10% less than the previous year. Even more shockingly, the company reportedly lost over $400,000 for every unit it produced in Q3 2023.
Still, lowering its prices might prove a prudent move. With the new price structure, the Lucid Air is directly comparable to the Tesla Model S. At the lower end of the range, the base Model S AWD starts at around $74,990. That’s less than $3,000 away from its Air Touring AWD rival in the Lucid Motors lineup. Of course, the range-topping Grand Touring models still start in six-figure territory, whereas the Model S Plaid starts at around $89,990.
Only time will tell if the revised price structure stokes some demand for the EV manufacturer’s luxury sedans.
