Losing out on $7500 credit? Do you think lucid will provide an incentive?

[pyle112]

With the credit disappearing in September 30, any thoughts that lucid will provide any incentive for those of us still waiting for our orders? Yes I know that money is no object for those of us buying a lucid, but 7500 is still 7500.

 

[Leftlane]

Money is always an object - and usually people who have a lot of it don’t act as if it isn’t. What can Lucid do other than eat the $7500?

 

[Ron_Burgundy]

No way they provide an incentive for Gravity orders. I don’t think it impacts Gravity demand materially - or at all.

 

[Elfin]

They will do exactly what they did for the Air. Once they can produce more Gravity than they can sell at the current price then they will lower price (through incentives because actually price drops make current owners sad.)

 

[Elfin]

Money is always an object - and usually people who have a lot of it don’t act as if it isn’t. What can Lucid do other than eat the $7500?

Not eat the $7500? Right now demand exceeds supply and I doubt the people buying (not leasing) are getting the $7500 anyway.

 

[Batteryman]

No, with 15% tariff on German cars, it will make competitors 10k more expensive, Lucid doesn't need to offer incentives to grab that market. Because of Trump, all luxury car prices will go up at least 10k. Lucid will be less affected by tariffs. They can take this opportunity to reduce incentives. Good for Lucid.

 

[Leftlane]

Which Lucid cars are even eligible for the credit outside of a lease anyway? I’m not saying Lucid has to eat it, I’m saying what choice do they have regarding the credit? It is going away and they can’t do anything about it - except to lower prices if they choose to. Otherwise all the EVs are getting more expensive for everyone. Thanks Elon and Donald.

 

[TahoeMichael]

Which Lucid cars are even eligible for the credit outside of a lease anyway? I’m not saying Lucid has to eat it, I’m saying what choice do they have regarding the credit? It is going away and they can’t do anything about it - except to lower prices if they choose to. Otherwise all the EVs are getting more expensive for everyone. Thanks Elon and Donald.

I think Republican antagonism towards EVs and the recent policy changes probably don't make a big difference for Air and Gravity sales. Where it will hurt is the next round of vehicles. A $7500 incentive matters a lot more to someone thinking about a $60k vehicle than someone thinking about a $100k vehicle. I'm rooting for Lucid (and Rivian), and it's the coming "mid market" vehicles that will make-or-break both companies.

 

[Batteryman]

I think Republican antagonism towards EVs and the recent policy changes probably don't make a big difference for Air and Gravity sales. Where it will hurt is the next round of vehicles. A $7500 incentive matters a lot more to someone thinking about a $60k vehicle than someone thinking about a $100k vehicle. I'm rooting for Lucid (and Rivian), and it's the coming "mid market" vehicles that will make-or-break both companies.

Actually, the loss of EV credit affects the ICE manufacturers more….they will hesitate to invest more in EV technology, battery demand drops, battery prices drop. ICE manufacturers will fall more behind. This gives opportunity for Lucid and Rivian to move further ahead. Both these companies are known as pure EV manufacturers. Most people buying their cars don’t really care about EV credit that much. Credit going away affects ICE manufacturers more because customers will just buy their ICE variant vs their EV’s. In 6 months there will be a reset, EV credit will be history and doesn’t come into the equation.

 

[joec]

I have no idea how Lucid will respond to the loss of the tax credit. I suspect they will come up with some way to make prices more attractive. Though eating that entire $7500 cost seems unlikely.

 

[Impatient7536]

maybe a $7500 credit towards lease wear & tear

 

[jaythree]

My Audi eTron GT didn't qualify for the $7,500 when I leased it in 2023, so Audi offered the discount directly as an "Audi EV credit" so they could compete. I assume car companies will start to do similar to keep the EV customers happy.

 

[californiaboy935]

I doubt they will have any price correction, and just use the tariffs and economic situation to keep prices stable. Maybe offer more referral rewards. Good way to delay the immediate cost, and hopefully people won't redeem, etc.

 

[Ron_Burgundy]

My Audi eTron GT didn't qualify for the $7,500 when I leased it in 2023, so Audi offered the discount directly as an "Audi EV credit" so they could compete. I assume car companies will start to do similar to keep the EV customers happy.

Yes, but Audi had a demand issue. Like Lucid did/does with the Air.

Demand appears to far outstrip supply for Gravity at this point, so I wouldn’t expect any incentives, etc until well into next year.

 

[AbhinavAir]

I am going to avoid the political aspect of this conversation, I suggest others do so too. This is a forum about Lucid, not a place for political discussions.

I would imagine most people that are able to afford ~100k car, are not eligible for the $7500 tax credit anyways. So the impact would be minimal.

As far as the customers leasing the cars go, Lucid can easily look at the market and see that the German competitors have to raise prices (as stated earlier in this thread), and use that as an opportunity to negotiate with BofA for better residual values, ultimately minimizing the impact to the overall lease deals.

 

[Leftlane]

I think tricking yourself into believing that an extra $7500 doesn’t matter just because people are higher income is crazy. No one needs these cars at all - it is purely discretionary. We’re about to find out how bad people want super expensive EVs with really high insurance premiums and terrible depreciation curves. The $7500 was a good incentive to help with the transition away from ICE and I guess we’ll see if that turns right back around now. Not just Lucid for sure - it will hurt all expensive EVs.

 

[AbhinavAir]

I think tricking yourself into believing that an extra $7500 doesn’t matter just because people are higher income is crazy. No one needs these cars at all - it is purely discretionary. We’re about to find out how bad people want super expensive EVs with really high insurance premiums and terrible depreciation curves. The $7500 was a good incentive to help with the transition away from ICE and I guess we’ll see if that turns right back around now. Not just Lucid for sure - it will hurt all expensive EVs.

I don't think anyone is saying that because you can afford an expensive car, that the credit doesn't matter. What I am saying is that when you purchase an air (not lease), you have to qualify to get the credit. Primary qualifier is your household income, and if you can afford an average $90k+car, then you are likely not going to be eligible for the rebate anyways.

 

[Elfin]

I don't think anyone is saying that because you can afford an expensive car, that the credit doesn't matter. What I am saying is that when you purchase an air (not lease), you have to qualify to get the credit. Primary qualifier is your household income, and if you can afford an average $90k+car, then you are likely not going to be eligible for the rebate anyways.

If you purchase you don't get it because of $80k price limit. You're right about income too. I hope very few people who qualify for the credit are buying $100k vehicles.

Right now the German companies are dumping EVs on the market and losing money (great for consumers!). With state zero emission mandates being eliminated (pending lawsuits) it seems likely that automakers will stop doing that and actual EV prices will go up (not necessarily fake MSRP numbers). Though I still think Lucid prices will go down once they're no longer supply limited.

 

[pyle112]

I mean this is just a slap in the face at this point. No gt with DDpro and no gravity expected.

 

[hydbob]

I mean this is just a slap in the face at this point. No gt with DDpro and no gravity expected. View attachment 31250

I don't understand how it's a slap in the face. Just because the cars avaiyatent what you want, doesn't mean they are misrepresenting anything.