Considering purchasing a Lucid Grand Touring

[Ms LMW]

Hello All. I’ve been researching Lucid and would like to know what would happen if Lucid went out of business? Would there be parts available to maintain our car? I’m a planner and over thinker , so please don’t come with negativity, it’s a simple concern
Thanks.

 

[DeaneG]

We all have our own risk/reward tradeoffs to make!
If you are concerned, you can eliminate any risk by leasing instead of buying.
The GT is a great car. I'm glad I bought mine and am along for the ride.

 

[borski]

Hello All. I’ve been researching Lucid and would like to know what would happen if Lucid went out of business? Would there be parts available to maintain our car? I’m a planner and over thinker , so please don’t come with negativity, it’s a simple concern
Thanks.

I'm not a prophet, but if Lucid were to have any risk of going out of business, my guess is one of two things would happen: Saudis would take it private, or a different manufacturer would buy Lucid.

Owners of the Fisker Karma still get serviced by Karma Automotive, which is owned by Wanxiang Group, after they bought the assets of Fisker Automotive for $149.2 million in a bankruptcy auction.

It is extremely unlikely that, even in the worst case, you'll be left out in the dust, given how many awards Lucid has won and how insanely good their industry-leading technology is.

Just my $.02.

 

[Batteryman]

Hello All. I’ve been researching Lucid and would like to know what would happen if Lucid went out of business? Would there be parts available to maintain our car? I’m a planner and over thinker , so please don’t come with negativity, it’s a simple concern
Thanks.

Lucid and Rivian are 2 EV brands that I strongly believe will not be going out of business. They make very desirable cars. The present slump is just a stop gap, as charging improves, batteries become cheaper and their smaller vehicles get released, their sales will pick up significantly.

The traditional ICE makers don’t know how to make good EV, even the Korean cars range has much to be desired. EV9 barely reaches 200 miles. Here is where the Lucid Gravity will shine. I’m eagerly waiting for the Gravity. Present transition to electrical energy is a boon to a new manufacturer. Playing field is leveled for everyone.

If you like to get all bases covered, leasing is a great option.

 

[Rossb2k]

I'm not a prophet, but if Lucid were to have any risk of going out of business, my guess is one of two things would happen: Saudis would take it private, or a different manufacturer would buy Lucid.

Owners of the Fisker Karma still get serviced by Karma Automotive, which is owned by Wanxiang Group, after they bought the assets of Fisker Automotive for $149.2 million in a bankruptcy auction.

It is extremely unlikely that, even in the worst case, you'll be left out in the dust, given how many awards Lucid has won and how insanely good their industry-leading technology is.

Just my $.02.

Totally agree. To add my thoughts from a more customer-oriented mindset:

1) Any existing leases would transfer over to the new entity, and the finance company would tell you where to return the car
2) Any buyer, unless they were intent on cannibalizing Lucid for its technology (which doesn't happen overnight) would inherit the service infrastructure as well, so short term the availability of parts and service wouldn't change.
3) As for the car itself, I would assume it would still be fully functional, with the worst case being the mobile antenna gets cut off if its not being paid for anymore.

 

[Bobby]

Hello All. I’ve been researching Lucid and would like to know what would happen if Lucid went out of business? Would there be parts available to maintain our car? I’m a planner and over thinker , so please don’t come with negativity, it’s a simple concern
Thanks.

Every major success I’ve had in my life involved varying levels of a leap of faith.

 

[par11768]

I'm not a prophet, but if Lucid were to have any risk of going out of business, my guess is one of two things would happen: Saudis would take it private, or a different manufacturer would buy Lucid.

Owners of the Fisker Karma still get serviced by Karma Automotive, which is owned by Wanxiang Group, after they bought the assets of Fisker Automotive for $149.2 million in a bankruptcy auction.

It is extremely unlikely that, even in the worst case, you'll be left out in the dust, given how many awards Lucid has won and how insanely good their industry-leading technology is.

Just my $.02.

I have a friend who owned one of the Fisker Karmas and service was non existent after the bankruptcy. Most of the service centers closed and he ended up selling a non-working car back to the new owners at about a $75K loss, not counting his legal fees to get rid of the car. In theory sounds good, reality was a mess.

 

[borski]

I have a friend who owned one of the Fisker Karmas and service was non existent after the bankruptcy. Most of the service centers closed and he ended up selling a non-working car back to the new owners at about a $75K loss, not counting his legal fees to get rid of the car. In theory sounds good, reality was a mess.

I also have a friend who had one. He thought it was fine?

Maybe location mattered.

Anyway, now there are a bunch of private shops who still service Karmas.

 

[Sandvinsd]

I'm not a prophet, but if Lucid were to have any risk of going out of business, my guess is one of two things would happen: Saudis would take it private, or a different manufacturer would buy Lucid.

Owners of the Fisker Karma still get serviced by Karma Automotive, which is owned by Wanxiang Group, after they bought the assets of Fisker Automotive for $149.2 million in a bankruptcy auction.

It is extremely unlikely that, even in the worst case, you'll be left out in the dust, given how many awards Lucid has won and how insanely good their industry-leading technology is.

Just my $.02.

Ditto. Not worried about Lucid going under. Their technology is an asset for a legacy automaker and Lucid would become their luxury EV nameplate. Again, lease if you are concerned, but it is a great car and you will be very happy driving one!

 

[RDaneel]

Hello All. I’ve been researching Lucid and would like to know what would happen if Lucid went out of business? Would there be parts available to maintain our car? I’m a planner and over thinker , so please don’t come with negativity, it’s a simple concern
Thanks.

It sounds like leasing is a great option to address this concern. While I think the Saudi backing makes it less likely that Lucid goes bankrupt, as a current Tesla owner I do pay keen attention to the EV market and resale values. My new Air lease says that my used Touring will be worth $69k once it is 18 months old and has 18,000 miles on it. Let's just say that I respectfully disagree with that assessment. Leasing is a great way to let Lucid absorb the risk of further softening prices in the used EV market. This car is way too expensive for me to purchase and gamble that it doesn't drop in value 50% in a couple of years (like the etron and other premium electric vehicles have). I can't speak for anyone else, but that's my personal circumstance.

 

[TriumphToo]

There is circular logic and reasoning here that supports leasing if you're concerned about the future and viability of Lucid, as many appear to be given their share price performance, cash burn, current battery replacements, and general market sentiment towards EVs at present. The issue is if, like me, you have these concerns and so lease then Lucid are going to have a lot of cars returned to them over the next couple of years (my GT will not be worth the $90k residual after 18 months and 20-25k miles). This means a loss of leasing income, pre-owned inventory with market values below residuals which depresses the pre-owned market further, and general losses all around (@Bobby maybe another good poll would be volume of owners who purchased vs leased?).

Otherwise, you can be brave, pay approx. $120k and hope that Lucid's strategy with the Gravity ensures its survival, until at east a cheaper mass volume model appears a few years further down the line.

I really hope that the company does survive and prosper as the GT is an amazing vehicle. If it doesn't, my assumption is that there are enough parts to support the Air for the length of time one typically holds onto a vehicle like this - there just may not be any further tech support or updates / upgrades.

 

[RDaneel]

There is circular logic and reasoning here that supports leasing if you're concerned about the future and viability of Lucid,

I would argue that the customer's logic is sound, but maybe the Lucid financial strategy is set up for a challenge 18 to 36 months from now! I'm sure the very smart people at Lucid know that they are borrowing from future Peter to pay current Paul, or at least give current Paul some good news to share with investors. The leasing deals they are offering are very aggressive, because if they don't show growth, the company will fail, no matter how much investor backing they have. They can't be a startup company that sells 5000 cars a year. They've expended so much capital on R&D and a factory, the only viable way out is up. I'm happy to take advantage of that desperation (a Touring for <$700/mo? Sign me up!), and hope that they will be in the position in 18 months to sell me another new car. And I hope that in the meantime, they move 100k Gravity to new homes.

 

[Richard]

I just leased a GT for 18 months. Love it. Rationale for me consistent with the above, the $7500 rebate that applies to leasing (but not to a purchase for me) covers the leasing cost, and this pushes the risk of greater-than-modeled depreciation back to Lucid F. Services. I anticipate a lot more EV options end-2025, so expect to have. blast picking the car I'll drive after the GT! Right now I'd have a hard time giving up "the barcalounger that does 0-60 in 3s." Seriously, buy for the speed, stay for the massaging/ventilated seats!

 

[RDaneel]

I just leased a GT for 18 months. Love it. Rationale for me consistent with the above, the $7500 rebate that applies to leasing (but not to a purchase for me) covers the leasing cost, and this pushes the risk of greater-than-modeled depreciation back to Lucid F. Services. I anticipate a lot more EV options end-2025, so expect to have. blast picking the car I'll drive after the GT! Right now I'd have a hard time giving up "the barcalounger that does 0-60 in 3s." Seriously, buy for the speed, stay for the massaging/ventilated seats!

Couldn't agree more. I'm hoping the market is a bit more mature in 18 months. Hoping to see new EV models from Lucid (very curious about the midsize), Rivian, Polestar, Audi, and Genesis that will increase competition in the premium EV segment!

 

[MJAir23TheGoat]

There is circular logic and reasoning here that supports leasing if you're concerned about the future and viability of Lucid, as many appear to be given their share price performance, cash burn, current battery replacements, and general market sentiment towards EVs at present. The issue is if, like me, you have these concerns and so lease then Lucid are going to have a lot of cars returned to them over the next couple of years (my GT will not be worth the $90k residual after 18 months and 20-25k miles). This means a loss of leasing income, pre-owned inventory with market values below residuals which depresses the pre-owned market further, and general losses all around (@Bobby maybe another good poll would be volume of owners who purchased vs leased?).

Otherwise, you can be brave, pay approx. $120k and hope that Lucid's strategy with the Gravity ensures its survival, until at east a cheaper mass volume model appears a few years further down the line.

I really hope that the company does survive and prosper as the GT is an amazing vehicle. If it doesn't, my assumption is that there are enough parts to support the Air for the length of time one typically holds onto a vehicle like this - there just may not be any further tech support or updates / upgrades.

Agree with lease logic or better yet
Look at a used GT low mile 2022’s 10K or so can be had for 73-77K with 2 years of warranty still on the car. Minimal downside unless it the next 24 months they go under.
Even it that scenario parts- service can still be found. Win/Win

 

[SUNPOWER]

Don't forget the factory demos - the final prices will shock you!