Ordering and Delivery: Lucid Air Touring

[RJ_Michalsky]

Hello Joe!
My data is as follows --

Zenith Red
Stealth
Glass Canopy
20" Aero Lite Stealth
Tahoe interior
Surreal Surround Pro
Dream Drive

Reservation August 13, 2022
Confirmation Nov 9, 2022

My home state is PA

Thank you for providing and tracking all this data

 

[Halodde]

I’m excited that Peter emphasized Touring will have the same efficiency as the GT. If true, it will have longer range than the refresh model s. Another thing Peter said was they will start first Pure delivery right before year end. So does that mean all Touring regardless of DD pro or SS pro will be delivered by year end?

I don't think so. It is possible that they are going to deliver all loaded Touring models before the end of the year. But, they have clearly stated that anything with Mojave or Stealth are Q1 and I was told verbally that SS (no pro) and metal roof were "later 2023 availability". I removed glass and SSP from my order when they said Mojave wasn't going to come in 2022. So, while their delays didn't cost them my reservation, it did cost them 2 options close to the amount of the tax credit that will probably be lost due to delivery in 2023.

 

[Shuasha]

You can drop mine from the list, bought a used AGT yesterday. A dealer accepted my lowball offer.

 

[ModelSToLucidAir]

I hope so. Already 3k reservations were canceled 37k to 34k. If 3k are Touring and very few remain gt and others, 30k pure? Of the 30k I would guess that 70% are rwd no ddp no ssp. They are price sensitive 70% and could consider ioniq 6 if they cannot get it by the end of 23. Did I miss something or there was no guidance for 23 targets? https://www.kbb.com/hyundai/ioniq-6/ 350 miles awd sedan version of the well received ioniq 5 which has very high demand with 6k mark up.

There was no guidance for 2023. That was the first question asked and honestly the only question I wished they had an answer. They just danced around it. Actually, they danced around a fair bit when asked about the margin, 37k previous vs 34k reservation. There was the 100,000 supposed reservation from the Kingdom. But all Peter said and continued saying was it’s a long term partnership. Something to the extend of 1-2000 air per year and then some for other models. It wasn’t clear how much of 100,000 would turn into actual deliveries. It would be great if they are all Touring or higher but from the sound of it, at least for me, it sounded like they are positioning for a more affordable EV in the future and much of the 100,000 would be for that model vs the expensive air.

 

[ModelSToLucidAir]

You can drop mine from the list, bought a used AGT yesterday. A dealer accepted my lowball offer.

May I ask what was the asking and what did you offer?

 

[Ahntilza]

You can drop mine from the list, bought a used AGT yesterday. A dealer accepted my lowball offer.

Congrats!

 

[Babyrocko1908]

They have a backlog of 34k reservations. Max people will wait for probably 1 yr. That means they need to deliver 3k per month on average. 300 per week just does not cut it. No guidance given. Stock down 11% after results were announced.

"NEWARK, Calif., Nov. 8, 2022 /PRNewswire/ -- Lucid Group, Inc. (NASDAQ: LCID), setting new standards with the longest- range, fastest-charging electric car on the market, today announced financial results for its third quarter ended September 30, 2022. Lucid reported Q3 revenue of $195.5 million on deliveries of 1,398 vehicles. The Company reported strong customer demand for Lucid Air with reservations over 34,000, as of November 7, 2022, representing potential sales of over $3.2 billion. This reservation number does not include the up to 100,000 vehicles under the agreement with the government of Saudi Arabia. Lucid ended the quarter with approximately $3.85 billion cash, cash equivalents, and investments, which is expected to fund the Company at least into the fourth quarter of 2023."

What data points make you think people will wait probably 1 year? Most of us here have waited much longer than that.

 

[Babyrocko1908]

Spoke to my DA finally today. He did say that there are rumurs of Touring will have more range than 406. That statement got me excited because in real world driving, I I’m able to get 350 miles of city/highway. I would be happy. Can’t wait for the 15th.

My gut was telling me this last week. Doesn't make much sense to have Touring have the same range as Pure. I think the horses head towards 700 as well. We'll know a week from today.

 

[Babyrocko1908]

Thanks for the reply. IRS website does not specify that EV has to be delivered before 12/31/22.

Credits for new electric vehicles purchased in 2022 or before | Internal Revenue Service

If you bought or leased a new, qualified plug-in electric vehicle (EV) in 2022 or before, you may be eligible for a clean vehicle tax credit up to $7,500 under IRC 30D.

www.irs.gov

Specifically the paragraph-

Transition Rule for Vehicles Purchased before August 16, 2022​

If you entered into a written binding contract to purchase a new qualifying electric vehicle before August 16, 2022, but do not take possession of the vehicle until on or after August 16, 2022 (for example, because the vehicle has not been delivered), you may claim the EV credit based on the rules that were in effect before August 16, 2022. The final assembly requirement does not apply before August 16, 2022.

Based on this, hopefully EV credit still valid even if delivery after 12/31/22! as men before up to IRS!!

I have been saying this for weeks. I have no clue where all of this confusion nonsense is coming from. The IRS website is clear. Transition Rule!!

 

[HariK]

What data points make you think people will wait probably 1 year? Most of us here have waited much longer than that.

Just the reported data. 3k fewer reservations and 1.8k deliveries implies at least 1.2k cancelation I think. I am rooting for lucid not only by waiting for the car but also I have several thousand shares. I would have been more upbeat if the end of the year deliveries were 7k or a bit more and the run rate next year which was not discussed would be 3k per month. No guidance given. Compensation is coming including used lucid cars for those who waited for 1 year cannot wait for 1 more year.

 

[idiot900]

What data points make you think people will wait probably 1 year? Most of us here have waited much longer than that.

We are a self-selected group of enthusiasts who buy into Lucid's idea of the best electric vehicle and are willing to wait. Most people probably aren't, and won't ignore Lucid's able competitors.

 

[HariK]

Just the reported data. 3k fewer reservations and 1.8k deliveries implies at least 1.2k cancelation I think. I am rooting for lucid not only by waiting for the car but also I have several thousand shares. I would have been more upbeat if the end of the year deliveries were 7k or a bit more and the run rate next year which was not discussed would be 3k per month. No guidance given. Compensation is coming including used lucid cars for those who waited for 1 year cannot wait for 1 more year.

Competition not compensation.

 

[Babyrocko1908]

We are a self-selected group of enthusiasts who buy into Lucid's idea of the best electric vehicle and are willing to wait. Most people probably aren't, and won't ignore Lucid's able competitors.

Again, that's not a data point. Someone stated they'll switch to the Hyundai Ionic something or other from a Lucid? Okay, that makes no sense. The two cars aren't even in the same class.

 

[Shuasha]

May I ask what was the asking and what did you offer?

It was a dealership, they listed it at $129k, I offered $122k since that was 10k over my Touring price. They even gave me a better deal than expected on my trade-in. 7k miles on it, originally shipped in March.

 

[Shuasha]

Again, that's not a data point. Someone stated they'll switch to the Hyundai Ionic something or other from a Lucid? Okay, that makes no sense. The two cars aren't even in the same class.

That's literally what happened to the car I just bought, the original owner traded it in on a Kia.

 

[Babyrocko1908]

New video featuring Touring. What I immediately noticed is that the video shows the Touring with UX 2.0 software.

https://twitter.com/x/status/1590387769599479808

 

[Babyrocko1908]

It was a dealership, they listed it at $129k, I offered $122k since that was 10k over my Touring price. They even gave me a better deal than expected on my trade-in. 7k miles on it, originally shipped in March.

$122K for a GT is a nice price. Which color?

 

[HariK]

We are a self-selected group of enthusiasts who buy into Lucid's idea of the best electric vehicle and are willing to wait. Most people probably aren't, and won't ignore Lucid's able competitors.

I agree and I decided to wait myself for lucid pure loaded fully. However I decided not to wait for gravity and settled for Fisker Ocean extreme knowing fully well that it is a different category.

 

[Shuasha]

$122K for a GT is a nice price. Which color?

White/Mojave/21" wheels. The downside is I need to buy 19" wheels because Chicago is cold. The massaging seats alone are worth the $10k uptick.

 

[Tim-in-CA]

New video featuring Touring. What I immediately noticed is that the video shows the Touring with UX 2.0 software.

https://twitter.com/x/status/1590387769599479808

I definitely like that the alcantera is gone from the dash and arm rests. Having it on the dash makes it difficult to clean.