The huge value cuts introduced by Lucid for its Air luxurious EV earlier this month are beginning to work, Lucid Group CEO and founder Peter Rawlinson stated at Monterey Automobile Week.
Talking with Yahoo Finance, the manager stated the EV startup noticed a rise in gross sales and product curiosity following the worth cuts, though he declined to speak numbers.
“We reverted to our unique pricing, which I feel we acquired about proper. We hit some actually inflationary challenges significantly in batteries as we acquired into the summer season of ’22. [So] we needed to take a value motion accordingly. However I am delighted to say we’re again to our unique pricing construction, and that is been so nicely acquired by prospects [and] the market alike,” Rawlinson stated.
By “unique pricing,” he meant the costs that have been initially introduced by Lucid on the Air’s launch earlier than it needed to elevate them final summer season.
The corporate slashed costs in early August by as a lot as $12,550 on the mid-range Touring and upper-range Grand Touring trims, and by $10,650 on its base Pure trim.
![Lucid Air With Stealth Appearance](https://cdn.motor1.com/images/static/16x9-tr.png)
14 Photographs
Nonetheless, the Lucid Air stays an costly EV, beginning at $83,900 (together with $1,500 delivery) in Pure AWD trim. Because of this, the electrical luxurious sedan doesn’t qualify for the federal EV tax credit score, though it’s eligible for the industrial lease exemption that permits patrons to reap the benefits of the complete $7,500 credit score through a lease program.
A less expensive Lucid Air trim is on the way in which, the Pure RWD, which is anticipated to undercut the Pure AWD by $5,000 in response to the corporate’s on-line configurator. The beginning MSRP ought to due to this fact be $78,900 (together with $1,500 vacation spot). The entry-level Air Pure RWD mannequin might be obtainable in September 2023, the configurator exhibits.
As for the Lucid Air Touring and Grand Touring trims, they now begin at $96,500 and $127,100, respectively (together with $1,500 delivery). Lucid may also launch the 1,234-horsepower Air Sapphire flagship trim later this 12 months with a price ticket of $249,000.
The EV startup can also be gearing up for the launch of its second mannequin, the three-row Gravity SUV. Rawlinson stated the whole lot is on monitor for the reveal in November. He famous that Lucid has round 30 take a look at “mules,” or alpha prototypes, that the corporate is presently utilizing to place the brand new car by means of its paces.