Lucid Motors slashed prices on most of its models for the third time in seven months. The company has struggled with customer demand.
Lucid Motors announced it was slashing prices on most of its electric vehicles and would also provide up to $1,000 for customers to purchase charging equipment. It was the third price reduction announced by the company in just seven months and came as the company continues to struggle to generate demand amid a broader slowdown in EV sales growth across multiple markets. Lucid said its base Air Pure model with rear-wheel drive would now start at $71,400, which includes a $1,500 destination fee.
And lastly, the company says it will offer all new Lucid Air customers free scheduled maintenance for two years or up to 24,000 miles. Lucid says its price cuts and other bonuses are designed to address the “barriers” to EV ownership — namely, price and ease. The luxury automaker has struggled to generate demand for its premium-priced vehicles, producing only 8,428 vehicles in 2023, of which only 6,001 were delivered to customers.
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