Discount for canceled ordered?

maazymaaz

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this dose not make sense. For the people who bought it at $154k that's a lawsuit waiting to happening.

Barron’s reports that the automaker has already taken to offering incentives to entice people into buying their cars. The automaker has sent out an email to customers who had reserved a Lucid Air, but did not turn that into a firm order, offering them an up to 10 percent discount on a vehicle.


In the email, the discount was framed as a chance to reinstate their order for a Lucid Air Grand Touring at their “original legacy price of $139,000.” Following brand-wide price hikes in June, the base price of a Lucid Air Grand Touring is currently $154,000.
 

HC_79

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Funny how this "email" didn't make it onto any website. If it went to a customer there is nothing stopping them from forwarding the email. I think Lucid is going to be like Tesla when it comes to the media. People are hell bent on seeing them fail and will continually report negative stories more than positive.
 

HC_79

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Also, I know someone who was shopping around and was looking at the EQS. They were being offered either $5K or $10K off the MSRP so it shows that it's not a Lucid problem. It's happening across the luxury market in general. It's just really unfortunate timing for Lucid now they're ramping up
 

ac.bill

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Lucid appears to be hustling to hit the highest possible end of quarter/end of year delivery numbers. So? It's not like every other automaker doesn't do what they can to pump their numbers. Lucid knows everybody is watching to see if they hit their goals.
 

Chirpy

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I think if I were in a position to take delivery of a physical GT at a day or two’s notice (crucially, before the end of the year), I’d make sure someone at Lucid was aware of that. They sound about as keen to hit their numbers as any other publicly traded company arriving at the end of a reporting period.
 

Bobby

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this dose not make sense. For the people who bought it at $154k that's a lawsuit waiting to happening.

Barron’s reports that the automaker has already taken to offering incentives to entice people into buying their cars. The automaker has sent out an email to customers who had reserved a Lucid Air, but did not turn that into a firm order, offering them an up to 10 percent discount on a vehicle.


In the email, the discount was framed as a chance to reinstate their order for a Lucid Air Grand Touring at their “original legacy price of $139,000.” Following brand-wide price hikes in June, the base price of a Lucid Air Grand Touring is currently $154,000.
Drama
 

Coho

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It seems to me there is a lot of hysteria around discounts and incentives. We all have seen Christmas sales events for years in the car and other markets. Get a big red bow on your discounted Lexus etc. Sure Lucid wants to move their cars and boost their numbers. I would be concerned if they didnt. People need to chill in my humble opinion.
 

HC_79

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Nothing like writing an article that is based on other articles which also are well, mostly speculation.
That's the media these days. Just rehash want someone else has said and all speculation. Then the try to make it look like X company is hiding something by saying "We contacted X for comment and got no response". Leading people to believe that the company is now hiding something because they didn't respond. Just shady tactics!

Freedom of speech right? Anyone can now just say whatever they want......frustrating
 

Sid432

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The worst part is these article takes significant impact on stock price.
 

digiboxer

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Just MHO, but I think the market is spooked by the decline in the backlog. It's counter-intuitive---you'd expect an increase in demand the more Airs make it to the road...and I even saw a Lucid TV commercial on CNBC recently. Plus Rivian, NIO and Fisker have seen increases in orders. So the fear could be that the Air has limited appeal in the market place (all sedans do, frankly) and Lucid has no Act Two to fill the void for the next year at least.

Of course add to this the list of other negative factor: concern about the economy, a lot of stock market wealth wiped out this year, rising interest rates at the same time LCID raised prices...all this stuff adds up to the proverbial Wall of Worry.

When guessing where stock price bottoms are (a fool's errand, btw) I ask the hypothetical question: Would an institutional buyer (PE fund) want to own 100% of the company at this market cap? (It doesnt matter that the Saudis wouldn't sell, etc ...its a mind game)

I think we're nearly there at $13B ---but that hypo buyer would need to be convinced that the market for Airs is hundreds of thousands of units deep, not 30k--60k.

Tesla has sold a lot of Model S's at big prices and nothing I've seen or heard convinces me it's a better car than the Air. For that reason I'm prepared to invest once this free-fall settles a little.
 

Bunnylebowski

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So are there any members on here who cancelled a GT order who were offered the exact car they specced out for $139K? Or did you get offered a GT that wasn’t your exact spec (IE a prior cancelled car that was already built) at a discount? I think Bill Alpert is lying. Unfortunately now Road and Track is citing his Barrons hit piece claiming there’s no demand for the car.
 
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LucidBrit

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So are there any members on here who cancelled a GT order who were offered the exact car they specced out for $139K? Or did you get offered a GT that wasn’t your exact spec (IE a prior cancelled car that was already built) at a discount? I think Bill Alpert is lying. Unfortunately now Road and Track is citing his Barrons hit piece claiming there’s no demand for the car.
It’s an echo chamber. Typical poor journalism by people who demonstrably don’t know the facts.
 

Dandy3

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The discounted cars were decontented: This configuration includes a three-month trial of DreamDrive Pro and Surreal Sound Pro Audio with Dolby Atmos Technology.
 
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