$7500 Credit for Gravity Leases

[Ughwhy]

Looks like Lucid is making the $7500 tax credit effectively available for Gravity leases:

Introducing the Lucid Gravity Advantage Credit | Lucid Motors

Enabling Customers to Benefit from $7500 Leasing Credit Beyond September 30 Until Year End

lucidmotors.com

"Qualifying lessee’s who place an order for a Lucid Gravity by September 30 and lease between October 1 and December 31 will be eligible to receive a $7,500 Lucid Advantage Credit.¹ Existing qualifying customers are covered as well. No extra steps – just a seamless way to ensure our customers will retain the full value of the current EV Credit, regardless of changes to government incentives."

 

[Jackles]

Now hopefully they can ramp up production so I can take delivery of my DE before EOY

 

[VeryPowerful]

Fantastic news! But I'm still unsure whether my Quantum Gray with Power package and DDPro will be delivered by the end of the year looking at how everything progresses.

 

[allenmhc]

Looks like Lucid is making the $7500 tax credit effectively available for Gravity leases:

Introducing the Lucid Gravity Advantage Credit | Lucid Motors

Enabling Customers to Benefit from $7500 Leasing Credit Beyond September 30 Until Year End

lucidmotors.com

"Qualifying lessee’s who place an order for a Lucid Gravity by September 30 and lease between October 1 and December 31 will be eligible to receive a $7,500 Lucid Advantage Credit.¹ Existing qualifying customers are covered as well. No extra steps – just a seamless way to ensure our customers will retain the full value of the current EV Credit, regardless of changes to government incentives."

Good on them for doing something to alleviate the pressure of people wanting to get their cars before the credit expires, but let's hope this carries through to them delivering much more quickly in Q4 so this credit can actually be taken advantage of.

 

[hjelmn]

That is good on Lucid and shows they are thinking about customer concerns. I have a GT ordered with the technology package (not interested in getting one without) and there is no way it will be delivered by Sept 30. If I can't get the credit I was planning to cancel and wait until there are better deals. This ensures I hold onto the order until at least Dec 31.

 

[Bdr100]

It is interesting that this email is written like they are trying to encourage people to place new orders prior to Sep. 30 by extending the $7500 credit until Dec. 31. Being as I placed my GGT order (with tech package) in late April and I seriously doubt I will get prior to Dec. 31, I doubt very many new orders (especially for loaded GGT) will arrive before end of year. I think this email is mainly aimed at people with existing orders to keep them from bailing on their orders if not delivered by September.

 

[allenmhc]

It is interesting that this email is written like they are trying to encourage people to place new orders prior to Sep. 30 by extending the $7500 credit until Dec. 31. Being as I placed my GGT order (with tech package) in late April and I seriously doubt I will get prior to Dec. 31, I doubt very many new orders (especially for loaded GGT) will arrive before end of year. I think this email is mainly aimed at people with existing orders to keep them from bailing on their orders if not delivered by September.

That is definitely it; I even upgraded my GGT → DE in hopes that they'd produce them faster in time for the cutoff, and my SA at the time was confident it'd get built and delivered by the deadline. Given how bad their Q2 earnings went, they're probably thinking they can't afford a Q3 dropoff, even if it'll cost them a bunch of cash to subsidize it.

 

[LucidfanAZ]

Let’s keep in mind that Lucid could very well extend the credit past Dec 31. We’ve seen them extend credits in the past or do better promotions especially if this credit leads to increased order volume.

 

[dbsb3233]

Good on them for doing something to alleviate the pressure of people wanting to get their cars before the credit expires, but let's hope this carries through to them delivering much more quickly in Q4 so this credit can actually be taken advantage of.

Didn't the $80,000 MSRP cap apply to leases too? Making all Gravitys ineligible before as well?

 

[Elfin]

Didn't the $80,000 MSRP cap apply to leases too? Making all Gravitys ineligible before as well?

Nope. Somehow the "lease loophole" has no MSRP cap or battery production location requirement.

This "lease credit" is sort of silly. The interest rate on Gravity leases is so much higher than Air that it eats up all the "credit" anyway.

 

[iorchii]

Appears that EV market is trying to sell more cars. Tesla just released Luxe package

• FSD
• Unlimited Supercharging
• Premium Connectivity
• 4 Year Premium service

Tesla raises Model S/X prices, but bundles 'Full Self-Driving' and brings back free Supercharging

Tesla has raised Model S and Model X prices by $10,000, but it decided to include its ‘Full Self-Driving’ package,...

electrek.co

Shortly after Lucid announcement of Advantage Credit on August 14th