Lucid Announces Public Offering of Common Stock and Corresponding Investment by an Affiliate of PIF

[borski]

the GT 155K new in 2022
Isn’t current price 110 =
a significant reduction
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Wasn’t the GT 155K new in 2022
Isn’t current price 110
Am I missing something on reduction?

You are comparing apples and oranges. The present GT for 110k is the base version. Such a version did not exist before. For example, when I bought the car, the GT was fully loaded; period. If you didn't want a fully-loaded vehicle, you didn't get the GT.

As a result, the only valid comparison is to compare a fully-loaded GT at present with the fully-loaded GT before. A fully-loaded GT (which I just priced onine) comes out to $129,200. In 2022, a new GT was $154k, minus a $7500 tax credit, for a total of $146,500, a total difference of $17,300. Across three years, with relatively minimal changes to the styling, and the only significant upgrades being a heat pump and new CCC, I don't think a drop of $17,300 is absurd, especially given the insanity that was the economy from 2020-2022.

Moreover, the biggest difference in cost is that DreamDrive Pro now costs $2,500 instead of $10,000. That $7,500 savings right there brings the price down significantly; without it, the price difference is only $9,800. I'm glad they made DDP less expensive; I want more people to have it. The reason I'm not too bothered by the price drop on that is because again, when I got my DE, it wasn't an option. I couldn't have "saved" by not getting DDP even if I had wanted to (though I wouldn't have wanted to).

Anyway, point is: no, I don't think Lucid has "dropped pricing significantly" since 2022. They've been very good at marketing that, because for most buyers the presence of a 'base' option means the price has dropped since you can get a car with fewer features, thus costing less. But that's not the same thing as dropping prices on vehicles across the board. That is what Tesla is done.

What Lucid has done, though, just like Hyundai, is created significant incentives for their lease deals.

 

[EXOTIC2]

You are comparing apples and oranges. The present GT for 110k is the base version. Such a version did not exist before. For example, when I bought the car, the GT was fully loaded; period. If you didn't want a fully-loaded vehicle, you didn't get the GT.

As a result, the only valid comparison is to compare a fully-loaded GT at present with the fully-loaded GT before. A fully-loaded GT (which I just priced onine) comes out to $129,200. In 2022, a new GT was $154k, minus a $7500 tax credit, for a total of $146,500, a total difference of $17,300. Across three years, with relatively minimal changes to the styling, and the only significant upgrades being a heat pump and new CCC, I don't think a drop of $17,300 is absurd, especially given the insanity that was the economy from 2020-2022.

Moreover, the biggest difference in cost is that DreamDrive Pro now costs $2,500 instead of $10,000. That $7,500 savings right there brings the price down significantly; without it, the price difference is only $9,800. I'm glad they made DDP less expensive; I want more people to have it. The reason I'm not too bothered by the price drop on that is because again, when I got my DE, it wasn't an option. I couldn't have "saved" by not getting DDP even if I had wanted to (though I wouldn't have wanted to).

Anyway, point is: no, I don't think Lucid has "dropped pricing significantly" since 2022. They've been very good at marketing that, because for most buyers the presence of a 'base' option means the price has dropped since you can get a car with fewer features, thus costing less. But that's not the same thing as dropping prices on vehicles across the board. That is what Tesla is done.

What Lucid has done, though, just like Hyundai, is created significant incentives for their lease deals.

Bottom line all these companies have had to have significant reductions of their higher end models/ luxury variations to get people interested in their product. There is no denying that and it’s not remotely debatable at this point. Let’s get back on track about stock analysis

 

[borski]

Bottom line all these companies have had to have significant reductions to get people interested in their product. There is no denying that.

Did you read literally anything I wrote?

That wasn't the "bottom line" I concluded at all. Some companies have had significant reductions. Some have had relatively insignificant reductions in price, comparable to many other vehicles in the industry that have been on the market for a few years.

Most of what has changed is simply marketing.

Many companies have introduced significant lease incentives, but leasing is not what we're discussing here.

 

[EXOTIC2]

Did you read literally anything I wrote?

That wasn't the "bottom line" I concluded at all. Some companies have had significant reductions. Some have had relatively insignificant reductions in price, comparable to many other vehicles in the industry that have been on the market for a few years.

Most of what has changed is simply marketing.

You lost me at apples and oranges, but thanks for engaging. It is what it is. Why do you think lucid started selling more AiRS…..
they had a price REDUCTION that mattered to buyers.. It’s not just a marketing scheme.

 

[borski]

You lost me at apples and oranges, but thanks for engaging. It is what it is. Why do you think lucid started selling more errors once they reduced the price it’s not rocket science

That was four words in.

Lucid sold more cars because they significantly improved marketing, and because more cars were on the road. Nobody who bought a GT at $130k was going to not buy it at $136k. That drop in price isn't why they sold more cars.

Making oatmeal isn't rocket science either, but putting it in a bowl and praying it gets hot also isn't how it gets made; we analyze data at deeper than just surface-level because otherwise we would all still be convinced that the sun revolves around the Earth, and that we get sick because of 'bad air'.

 

[new owner]

bought a new AGT in April 2022. the price was $139,500(which came with every option). Price was reduced with my $7,500 tax credit which was allowed for that time period. So total price was $132,000 for a brand new AGT with every option. The 155K you quote came later.

Plus
3 yrs of free charging at that time

 

[levsha]

Patience will be rewarded. Fisker went straight to the "high volume segment" out the door and now they are defunct.

It's unfair to compare with Fisker and blame "high volume segment" as the cause it failed when Fisker didn't have such investor as Lucid has

 

[Batteryman]

You lost me at apples and oranges, but thanks for engaging. It is what it is. Why do you think lucid started selling more AiRS…..
they had a price REDUCTION that mattered to buyers.. It’s not just a marketing scheme.

they reduced standard options, my touring is 96850, if I configure it now with all my options. I paid 113k, minus the 7.5k tax credit, comes to 105.5k.

Only a 8650 difference- 8.19% decrease. So not significant at all. But they do offer 5k discount for cars on the lot. This allows them to sell inventory as they produce more cars. They are basically offering market appropriate discounts on inventory cars vs ordered cars. Good sales and marketing!

 

[joec]

Yes, there has been much talk of Lucid lowering prices. But @AirDoll is correct. For those of us who ordered before the original price increase, prices now for the same configuration are much the same.

What Lucid did was lower the price of entry, both by finally shipping the Pure RWD and by taking standard options out of the higher trims. It's smart marketing. But it's not really slashing prices. It just looks like slashing prices to people who are only paying marginal attention. Like the press.

And as @borski said, they combined that lower entry price with good lease deals, which also make the car seem cheaper, when in reality it isn't.

Add in the fact you can also now buy a pre-owned Lucid, and there are far more people who can afford to get into an Air than there were in 2022.

But purchasing a new, fully loaded GT is still gonna cost you only marginally less than it cost many here in 2022.