Ordering and Delivery: Lucid Air Touring

[joec]

@joec - long term play is how many years? I am thinking to add additional 100 shares to avg down but in deep red ATM (I knew that I would hold for at least 3 years but does your opinion differ on this)

I was late to the game (which works out for me, I think). Bought some at $20 ish, and then some more when it came down to $11. Would love to pick up some more while it’s low. We’ll see. Definitely no expert on this. And I would not make it a major part of my portfolio. But for small amounts where I’m not breaking the bank if I’m wrong, the potential rewards could be well worth it. The way I see it, either Lucid goes down in flames and I lose money I can live without, or they succeed and the price at least gets up into the hundreds. So at 10 bucks, I stand a good chance of doing way better than I would in most other places for the next 5 years or so.

They are no hype machine like Tesla, so I’m not dreaming of massive $900 prices or anything. Just a solid long-term asset if they can get past this early phase.

I bought Apple when it was $3 several splits ago. Wish I had had more money at the time to buy a lot more, but it turned out pretty well. Most people at that time had written off Apple completely. So you can see why I have high hopes for Lucid.

My philosophy is never buy any stock where I don’t truly believe in the product and its leadership.

I had the opportunity to get TSLA at $14 and missed it. Once it went to the stratosphere, though, and I actually spent time with the car, I began seeing it as a huge red flag, as I’ve told many friends who lost quite a bit this year. I would not touch TSLA with a 20-foot pole now. I feel like a massive collapse there is inevitable.

 

[quantum]

I believe in the company, car and technology. Just look at the reviews. You might see negativity but that is magnified by Tesla fanboys going around disparaging Lucid and making antiLucid youtube videos.Don't ever trust a youtuber- they dont have a clue about anything.

They are only 1 year into production, and present inflationary pressures don't help. But guess what, when they do ramp up to full capacity, this company will fly. Saudi's will never let this fail and Middle East will have a huge demand. Don't forgte other international deliveries. SUV is not even released yet. And they ARE working on a 50k model.

I am ignoring all the " noise " and buyin every dip! Infact, contemplating upgrading my touring to a grand touring.

 

[quantum]

Yeah I get why they did it, but it is a cynical play in my book. Building higher spec cars to try to upsell folks rather than building the cars in the order book. I have really been torn, especially since they offered me the original pricing again. But for me it didn't make sense when they offered it in the summer, and it still doesn't. Just now there is a time crunch thrown in.

I'm honestly still not sure if they did build GTs on spec or if they just had a lot of cancellations or refusals to collect. The GT I was offered was made clear to me it was a '22 model year, which didn't bother me, but it would seem to be older inventory given that they have been building '23's for a couple of weeks at least.

Who knows, but it is making me do an awful lot of speculation which is not particularly healthy or making me think good thoughts about Lucid the company.

They overestimated the demand for GT models, inflation, job losses doesn't help. Next year will be Lucid's year once the Pure gets going!

 

[hitmanray]

They overestimated the demand for GT models, inflation, job losses doesn't help. Next year will be Lucid's year once the Pure gets going!

Why are they estimating anything at this point? They have an order book with 30k+ vehicles to deliver.

Honestly I felt it was a bit rough that "legacy" (read pre-DE release) reservation holders had to wait while a whole bunch of "new" (read post-DE release) GT reservations were executed, but I totally understood the business reasons behind it. Sucked for me as a Touring reservation holder, but someone shows up this summer willing to plunk down $150k+ for a GT and I get it, you are gonna execute on that.

But I still think they could have flipped over to Touring much sooner, especially seeing as it now seems they built more GTs without orders. It's not like they are never going to produce another GT now that Touring's and Pure's have hit production.

Honestly it seems to me that the numbers the analysts care most about is units delivered first, then revenues, then profit/loss. Obviously the last one is kind of irrelevant as they are burning through cash expanding the production. And given how many Touring/Pure orders they have on the books, it seems they could have flipped over sooner to get the full year units shipped higher, for the sake of slightly lower overall revenue received.

Perhaps, and this is getting way into speculation, they screwed up on component supply for Touring. In my head, Touring was simply a GT with a few things left out, but early reports of leather being different and seats having less functionality, perhaps they screwed up the supply chain for some of the Touring specific components which is why they a) kept building GTs, and b) flipped the switch on Pure's so quickly knowing that they couldn't build Touring's as early as they wanted to.

Anyway, as you all might be seeing, I do think about things more than is healthy. Fingers crossed we all start seeing more progress soon.

 

[SDHacker]

Yeah I get why they did it, but it is a cynical play in my book. Building higher spec cars to try to upsell folks rather than building the cars in the order book. I have really been torn, especially since they offered me the original pricing again. But for me it didn't make sense when they offered it in the summer, and it still doesn't. Just now there is a time crunch thrown in.

I'm honestly still not sure if they did build GTs on spec or if they just had a lot of cancellations or refusals to collect. The GT I was offered was made clear to me it was a '22 model year, which didn't bother me, but it would seem to be older inventory given that they have been building '23's for a couple of weeks at least.

Who knows, but it is making me do an awful lot of speculation which is not particularly healthy or making me think good thoughts about Lucid the company.

Rather than a cynical play, it's more like a cynical viewpoint on your part. As you stated, those GTs are 22s, not 23s. Rather than a lot of cancellations, there seem to have been a handful with unpopular exterior/interior color choices that potential new buyers are passing on for their choice of colors. I doubt they built those GTs on spec - especially given their knowledge of what color combos are in demand.

As @borski lamented, why do people ascribe nefarious intent on the part of the company when there are logical explanations - which you even point out?

For people that are targeting the T or P trim, I agree it doesn't make sense to move to a GT, the value isn't there for them. The cars with the most options installed in the T and P trims are the easiest for the factory to transition to from the GT. It's not an attempt to upsell, Lucid stated this was the plan and makes sense not just from a profit viewpoint but from an factory assembly viewpoint.

 

[joec]

The way I see it, when I put in my reservation last February for a Touring, I was told to expect delivery maybe by late Q1 2023. So they are ahead of schedule by a few months compared to what I was told.

And that was BEFORE the production woes that ended up throwing a wrench in the works last spring.

I know others have been waiting much longer than I have, but I will be shocked if they don't catch up to Touring completely before next summer. Probably a lot sooner.

The thing that is casting such a negative light on everything right now is this darned $7,500 tax credit. Which, let's face it, was foisted upon Lucid without warning. Can hardly blame them for it.

So they are trying their best to get as many cars out as possible in the next four weeks, but this, like so many other things this year, was not the original plan by any means.

 

[hitmanray]

Rather than a cynical play, it's more like a cynical viewpoint on your part. As you stated, those GTs are 22s, not 23s. Rather than a lot of cancellations, there seem to have been a handful with unpopular exterior/interior color choices that potential new buyers are passing on for their choice of colors. I doubt they built those GTs on spec - especially given their knowledge of what color combos are in demand.

As @borski lamented, why do people ascribe nefarious intent on the part of the company when there are logical explanations - which you even point out?

For people that are targeting the T or P trim, I agree it doesn't make sense to move to a GT, the value isn't there for them. The cars with the most options installed in the T and P trims are the easiest for the factory to transition to from the GT. It's not an attempt to upsell, Lucid stated this was the plan and makes sense not just from a profit viewpoint but from an factory assembly viewpoint.

Fair enough, let's not say nefarious or cynical. Let's just say I disagree with the rationale. I don't see why they were building anything that wasn't a confirmed customer spec from a reservation on the books. So those that are available must have been customer ordered vehicles that the customer backed out of for whatever reason (which I'm sure happens as well).

As mentioned I do overthink things a lot, and I am very frustrated. As an early reservation holder I've been through the Q2'22 projection, the Q3'22 projection, the Q4'22 projection, the "production to begin in Q4'22" projection. Again I get it. But it's hard to not sit here and analyze the choices the company is making when the outcome of those choices is not working in my favor.

Going all the way back to my first post today, the bigger one I can't wrap my head around is why come up with a unique color for Pure, and why try and produce some of those before the end of the year? That does not seem like a decision that is going to ensure that the maximum number of people are going to take delivery before the end of the year, which the company must know is a big thing for a lot of folks.

Anyway, just to say I really enjoy this forum and am still very positive on the vehicle and the brand. And I don't mean any ill-will to anyone that is managing to get hold of a vehicle. Just venting my frustrations here as it's really the only place that can possibly relate, and my wife is getting sick of hearing my over-analysis.

 

[quantum]

Understand your predicament. I’m thinking they are hoping a few touring customers might upgrade to grand touring. Also, I’m sure many of those grand touring are going to Saudi Arabia , few to Europe.

 

[Brooklynboy]

I know this is beating a dead horse and there are other forums that speak to this but I still believe and my accountant as well that if you entered into an agreement before 8/16/2022 it doesn't matter that delivery takes place in 2023.

EV Tax Credit 2022​

What happens to the EV tax credit for the rest of 2022? The Inflation Reduction Act offers some relief for EV buyers who have written, binding sales contracts from this year to purchase EVs that will be placed in service or delivered in 2023. Essentially, if you purchased an electric vehicle before the Inflation Reduction Act became effective (so before August 16, 2022), and that vehicle is otherwise eligible for the old EV tax credit, you can claim that credit.

Website is https://www.kiplinger.com/taxes/605081/ev-tax-credit-inflation-reduction-act-2022-changes

 

[Negan1000]

I know this is beating a dead horse and there are other forums that speak to this but I still believe and my accountant as well that if you entered into an agreement before 8/16/2022 it doesn't matter that delivery takes place in 2023.

EV Tax Credit 2022​

What happens to the EV tax credit for the rest of 2022? The Inflation Reduction Act offers some relief for EV buyers who have written, binding sales contracts from this year to purchase EVs that will be placed in service or delivered in 2023. Essentially, if you purchased an electric vehicle before the Inflation Reduction Act became effective (so before August 16, 2022), and that vehicle is otherwise eligible for the old EV tax credit, you can claim that credit.

Website is https://www.kiplinger.com/taxes/605081/ev-tax-credit-inflation-reduction-act-2022-changes

Agreed. Hope Turbo Tax figures out how to update their software accordingly.

 

[Chillywill75]

@joec always makes me feel more optimistic. My DA has been more of a "feel free to contact me whenever you want, but once I hear something, I'll reach out to you right away" kind of guy. When I last spoke to him a week ago, it was VIN assignment 1st to 3rd week of December. For those of you that received your VIN, did contacting your DA do anything in terms of speeding up that process. I am also incessantly checking my Lucid account to see if the payment button shows up on my order page, but so far no changes. Here's to hoping that fully-loaded White/Tahoe AT is on its way to me sometime in the next 29 days!

No I didn’t do anything special. My DA contacted me when there was news or next steps to do

 

[Chillywill75]

It appears to me that 2 weeks from VIN is about delivery time. I received my VIN 11/21 and car has gone through PDI in Chicago and waiting for a ride to Virginia as of 2 days ago. Chillywill75 was 3 days ahead and I thought his had been delivered but waiting for a fix during inspection. Mine could show up any day. Keep the faith.

I have an update actually. I was supposed to pick up today but theyre really having a hard time with the last update and my DA didn’t know the exact one but said that it included SiriusXM so it must be the 2.33. delivery was pushed back to next week sometime at the earliest. He even said that I have the possibility of getting a new VIN (read different vehicle altogether)

 

[hydbob]

Can we get this thread back on track for delivery tracking? Thanks for your understanding!

 

[maazymaaz]

At the end of the day, I decided to go with the lease. I know, the residual isn’t great. But given how close we’re cutting it with the tax rebate, I really liked the idea of Lucid just taking the $7500 off the top right now. Once that’s approved, I’m guaranteed for 45 days. So if they don’t get it to me by EOY now, that’s their problem.

I fully plan to just buy out the lease at the end of the term. Unless I really hate the car by then, which is pretty unlikely.

what were the numbers like?

 

[DTA]

The way I see it, when I put in my reservation last February for a Touring, I was told to expect delivery maybe by late Q1 2023. So they are ahead of schedule by a few months compared to what I was told.

And that was BEFORE the production woes that ended up throwing a wrench in the works last spring.

I know others have been waiting much longer than I have, but I will be shocked if they don't catch up to Touring completely before next summer. Probably a lot sooner.

The thing that is casting such a negative light on everything right now is this darned $7,500 tax credit. Which, let's face it, was foisted upon Lucid without warning. Can hardly blame them for it.

So they are trying their best to get as many cars out as possible in the next four weeks, but this, like so many other things this year, was not the original plan by any means.

As a preface to your opinion & observation/s, I will [simply] state that I appreciate both. And to add, this is one cohort's opinion expressed -

Although I suspect the $7,500 Tax Credit carries significant weight in the decision of those purchasing the AT or AP after June 2021, I believe those [of us] deciding to reserve AT from December 2019 through May 2020 [likely] do not consider it as significant (based on the fact it was not a talking point so much as the car was the focus). When a statement is made that brushes over the fact that "others have been waiting much longer", signifying that we [all] hold the same anxiousness for receiving our vehicles diminishes all the attributes associated with the reasoning behind why we have been standing in wait for such a long time and feel as passionate as we do to understand the reasoning behind the production assembly scheduling [aside from what the DA's have been attempting to portray].

There is a clear understanding of the business case and startup factors associated with LUCID's ability to stand up the company and produce vehicles. Yet, for those who reserved AT's between December 2019 and May 2020 have been patient as LUCID has revised corporate statements, production facility statements, and funding & investment statements ..all in an attempt to get to a place of having the capability & capacity to build those AT's we have patiently been waiting for since the window initially opened. Although this may be perceived as a long wait for those having reserved earlier this year, there is a real significance for those [of us] that have been waiting (3) Christmas's to take delivery only to be shown [via our forum] that several individuals will be allowed to take delivery prior to those who have been waiting. It's worth noting [I suspect] you have a higher percentage of individual's reserving the Air prior to Fall of 2020 that are investors and general evangelist about the Air than post, as the reason for the purchase, investment, & general enthusiasm was less about a Tax credit and more about finally taking part of something no previous EV manufacturer accomplished.

Just one cohorts opinion. Yet, there is something to be said about doing anything decently and in order. Moreover, customer experience is a very real issue that will eventually raise it's ugly head, and at that time of LUCID's maturity resources across the organization that are client facing will need to be better prepared and more knowledgeable about managing client expectations for someone purchasing a $125K+ vehicle. Simply look at those [legacy] auto manufacturers who do so today.

 

[mnat]

I was not in the tracker yet, but I am picking my Touring up tomorrow from Chicago. Reservation: April 18, 2022. Order confirmed: November 1, 2022. Cosmos Silver, Santa Cruz interior. 20" wheels. Glass roof, dream drive pro, surreal sound pro. State: WI. Thanks for putting this forum together, it has been super helpful!

 

[joec]

I was not in the tracker yet, but I am picking my Touring up tomorrow from Chicago. Reservation: April 18, 2022. Order confirmed: November 1, 2022. Cosmos Silver, Santa Cruz interior. 20" wheels. Glass roof, dream drive pro, surreal sound pro. State: WI. Thanks for putting this forum together, it has been super helpful!

Nice. Let us know how it goes tomorrow, and I'll put you directly into the delivered page.

 

[idiot900]

I was not in the tracker yet, but I am picking my Touring up tomorrow from Chicago. Reservation: April 18, 2022. Order confirmed: November 1, 2022. Cosmos Silver, Santa Cruz interior. 20" wheels. Glass roof, dream drive pro, surreal sound pro. State: WI. Thanks for putting this forum together, it has been super helpful!

Congrats! I hope you'll post a new thread with your impressions of the car.

 

[Ahntilza]

I was not in the tracker yet, but I am picking my Touring up tomorrow from Chicago. Reservation: April 18, 2022. Order confirmed: November 1, 2022. Cosmos Silver, Santa Cruz interior. 20" wheels. Glass roof, dream drive pro, surreal sound pro. State: WI. Thanks for putting this forum together, it has been super helpful!

Congrats! It is good to see the flood gates open a little bit on the Touring Deliveries in the wild. Looking forward to hearing your impressions the car and the delivery experience.

 

[Codyroo]

I was not in the tracker yet, but I am picking my Touring up tomorrow from Chicago. Reservation: April 18, 2022. Order confirmed: November 1, 2022. Cosmos Silver, Santa Cruz interior. 20" wheels. Glass roof, dream drive pro, surreal sound pro. State: WI. Thanks for putting this forum together, it has been super helpful!

Good luck!