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Lucid Layoff

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kerplunk said:
I never leased before. The cars I'm rolling around are from 06, 08 and 12 just to give you a glimpse of my psyche lol.
You've given me some things to think about.

So the hedge is: if Lucid tanks you just give the car back and you are free? If at the end of the lease and you want to keep the car you pay the residual? Which includes a little more $ on top of the cars actual value. Do we have good numbers on what that residual will be?
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I think the residual on a 2 year lease was around 55%. So at the end of the lease you can but it for a predetermined price (some companies don't allow you to buy it but that's rare) or you walk away.
I like to look at the total lease payment plus the buyout vs the payments on the loan.
At the end of the day you come up with a number and you can say is it worth 2,000 to be able to walk away, for sure....10k maybe not.
Also if you get into an accident , you walk away ( meaning the loss on value at the end for a bad carfax).
I would suggest just doing some reading on leases, terms did not seem great but maybe the additional cost is with the flexibility.
 
Lucid23 said:
I think the residual on a 2 year lease was around 55%. So at the end of the lease you can but it for a predetermined price (some companies don't allow you to buy it but that's rare) or you walk away.
I like to look at the total lease payment plus the buyout vs the payments on the loan.
At the end of the day you come up with a number and you can say is it worth 2,000 to be able to walk away, for sure....10k maybe not.
Also if you get into an accident , you walk away ( meaning the loss on value at the end for a bad carfax).
I would suggest just doing some reading on leases, terms did not seem great but maybe the additional cost is with the flexibility.
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So you will know exactly how much you are able to buy the car for.
 
MoniputerLM said:
Is this the beginning of a long drawn-out end?
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The same conversations were being had with Tesla Summer of 2019. The world, and stock market, all said Tesla was dead, Elon was dead, etc. There’s a lot of execution in there, luck, low interest rates, etc, etc, but let’s not write off the company just yet. Are the concerns real, for sure, it’s a tough time. I remember buying my Model S in 2019 thinking the same thing we’re discussing now and that turned out ok. This car is amazing, the last couple updates have been handled really well and with a little luck things will pick up…
 
jri said:
The same conversations were being had with Tesla Summer of 2019. The world, and stock market, all said Tesla was dead, Elon was dead, etc. There’s a lot of execution in there, luck, low interest rates, etc, etc, but let’s not write off the company just yet. Are the concerns real, for sure, it’s a tough time. I remember buying my Model S in 2019 thinking the same thing we’re discussing now and that turned out ok. This car is amazing, the last couple updates have been handled really well and with a little luck things will pick up…
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I hope that Lucid survives but the EV market is very different now. Tesla was for the most part the only high-end EV at the time and now there are several from a number of manufacturers. Time will tell.
 
jri said:
The same conversations were being had with Tesla Summer of 2019. The world, and stock market, all said Tesla was dead, Elon was dead, etc. There’s a lot of execution in there, luck, low interest rates, etc, etc, but let’s not write off the company just yet. Are the concerns real, for sure, it’s a tough time. I remember buying my Model S in 2019 thinking the same thing we’re discussing now and that turned out ok. This car is amazing, the last couple updates have been handled really well and with a little luck things will pick up…
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All true, I guess it's just how much you value an out of things don't work out. Obviously we all hope it is unnecessary.
 
Tesla2.0 said:
There will be retainer bonus after layoff to key and critical employees to protect intellectual property interest. I was one of those guys survived 7 rounds of lay offs in a few month in the worst Fortune 10 companies debacle.
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Yep, the Golden Handcuffs are real.
 
Lucid23 said:
All true, I guess it's just how much you value an out of things don't work out. Obviously we all hope it is unnecessary.
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It's really unlikely the Saudis don't bail them out if it comes down to it. A change in leadership would be much more likely than anything else.
 
MoniputerLM said:
I hope that Lucid survives but the EV market is very different now. Tesla was for the most part the only high-end EV at the time and now there are several from a number of manufacturers. Time will tell.
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You hit the nail on the head (market being different). Lucid was a tad slow to market but worse than that has made several questionable decisions which, coupled with the economic climate, has severely reduced demand. As time goes on - and I hope I’m wrong - more signs keep pointing to… an extremely long and arduous road to profitability.

Hopefully the 18% bounce back and those that remain are able to keep everything on track.
 
MoniputerLM said:
I hope that Lucid survives but the EV market is very different now. Tesla was for the most part the only high-end EV at the time and now there are several from a number of manufacturers. Time will tell.
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100%. My eyes aren’t closed. It’s an unfortunate time and things aren’t looking great for Lucid. But the car is amazing. The range and performance are by far the best out there. The car/company don’t go away in a worst case scenario, in my opinion. More likely acquired by a big public or taken private by Saudi PIF.
 
So, we signed our purchase agreement this morning only to read the news this afternoon of the layoffs. I also made partial payment at their request. Do I have any options to change it to a lease?
 
HariK said:
I am not planning on selling Lucid stock. However, my cost is 16+ and I will have to wait at least till the end of 2024. Lower interest rates, cheaper battery, lower priced Gravity a bit above Pure, eliminate so many models. I personally do not see the need for Touring. All that is needed Pure, Gravity and just one version of GT. I am not even sure if they need the GT performance when they have Sapphire.
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Are you doubling down tho
 
This is certainly short-term bad news. But in my view, the Air is a spectacular good car, and I do not think the Saudi investors are short term thinkers. I have no doubt Lucid will work to reduce the build costs, and that if needed the Saudis will provide any needed liquidity. Lucid has done a great job for such a big undertaking in a difficult market. Their very first car is in my view the best car I have ever owned. I suspect the Gravity will be even better. It would be a miracle for any new car company to become profitable in under 10 years, so it is way too early to judge Lucid.
 
There are quite a few AGT for sale with low miles for around $110K on Autotrader. Those are a real bargain, I think. But no doubt the presence of so many used low mile cars is driving down demand for new ones. Lucid needs to get the new AGT prices down around $120K, not $150K.
 
I hope that they don't layoff programmers! Still a lot of work to be done.
 
What if there is a parallel universe where Rivian and Lucid went merger. Would that be a good marriage? Trying to picture that scenario..
 
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