Price now reduced by $7500

[Sandvinsd]

Lucid announced discount pricing on a temporary basis.

Lucid joins the EV pricing war with $7.5K credits on certain vehicles

Lucid Group (LICD) announced that customers can receive a $7,500 electric vehicle credit on the purchase of the Lucid Air. Read more.

seekingalpha.com

 

[LucidTouringCL]

So, what is this mean for us whomsoever is still waiting for the car to deliver, do we get extra 7500 on the old listing price I hope?

 

[Halodde]

I just saw an email about this. It looks like they are giving a $7500 credit for certain Touring models off of the higher pricing from last year. And they are giving a $7500 credit off of LEGACY pricing for the GT. This seems to solidify my thoughts on Lucid building more GT's than they had orders for thereby delaying Touring production into later 2022 and costing many of us the tax credit. Frustrating. And before anyone says "just get one now." I have legacy touring pricing. So, the $7500 credit off new pricing doesn't help.

 

[Halodde]

So, what is this mean for us whomsoever is still waiting for the car to deliver, do we get extra 7500 on the old listing price I hope?

See my above response. In answer to your question, my guess is that if you have a touring on order with the higher prices from last year, you should get a credit. If not, I'd see if you can cancel your order and just take advantage of the promotion they are currently offering. If, however, you are like me and have legacy pricing, this doesn't help.

 

[Halodde]

And the pure is not part of the promotion.

 

[LucidTouringCL]

Thanks for the information, I am waiting for Touring and have legacy pricing, still it is 15,000 price difference, and better than$7500, wish Lucid deliver to me in last year.

 

[xponents]

I just saw an email about this. It looks like they are giving a $7500 credit for certain Touring models off of the higher pricing from last year. And they are giving a $7500 credit off of LEGACY pricing for the GT. This seems to solidify my thoughts on Lucid building more GT's than they had orders for thereby delaying Touring production into later 2022 and costing many of us the tax credit. Frustrating. And before anyone says "just get one now." I have legacy touring pricing. So, the $7500 credit off new pricing doesn't help.

Wait, legacy for GT?

 

[Halodde]

Well, I guess that depends on the configuration. The emails says GT price is $138k. That's legacy, right? But we don't know what options that price includes presently.

 

[xponents]

Well, I guess that depends on the configuration. The emails says GT price is $138k. That's legacy, right? But we don't know what options that price includes presently.

No... 139k is legacy. Remember, now gt has no ssp and ddp.

 

[Halodde]

I just scheduled a call with my DA for this afternoon to get more information.

 

[Halodde]

Here is the bulk of the email from a financial source, not directly from lucid

 

[xponents]

Here is the bulk of the email from a financial source, not directly from lucid

When you talk with your DA, could you ask about legacy pricing?

 

[Drendino]

I just saw an email about this. It looks like they are giving a $7500 credit for certain Touring models off of the higher pricing from last year. And they are giving a $7500 credit off of LEGACY pricing for the GT. This seems to solidify my thoughts on Lucid building more GT's than they had orders for thereby delaying Touring production into later 2022 and costing many of us the tax credit. Frustrating. And before anyone says "just get one now." I have legacy touring pricing. So, the $7500 credit off new pricing doesn't help.

No conspiracy here. There were a lot of cancellations, as the economy went downhill and inflation went through the roof. Also, there was a lot of bad press circulating about Lucid’s software issues, which definitely caused some buyers to pass or wait. They don’t stop building or finishing a car when someone cancels. Rivian has the same issues, which is why they created the R1 shop.

 

[Babyrocko1908]

Well, I guess that depends on the configuration. The emails says GT price is $138k. That's legacy, right? But we don't know what options that price includes presently.

No, legacy for GT was $139,000 and included DDP and SSP standard. The $138,000 is for standard DD and SS.

 

[Halodde]

No conspiracy here. There were a lot of cancellations, as the economy went downhill and inflation went through the roof. Also, there was a lot of bad press circulating about Lucid’s software issues, which definitely caused some buyers to pass or wait. They don’t stop building or finishing a car when someone cancels. Rivian has the same issues, which is why they created the R1 shop.

I didn't say conspiracy. However, your point is well taken. Some of the cars they are trying to move now may have been from cancellations. My guess still is that they overproduced GT's to a certain extent with the hopes that they could sell the higher price point vehicles so they built extra while the production like was still set up for that trim. And I am also guessing that the same thing is happening with fully loaded touring models that are part of this promotion. They were very clear that they were producing fully loaded tourings first (before they changed their production line to non DDP and SSP vehicles). It makes sense to me that if they have an opportunity to sell some more of those that they produce them now before switching production. From a business standpoint, if this was their decision making process, I get it. But from a customer standpoint, as someone who has been waiting for 2 1/2 years and lost the tax credit, it is very frustrating.

 

[Halodde]

Thank you for correcting me. How do I edit my comment about legacy pricing for GT above? I don't want to spread misinformation.

No... 139k is legacy. Remember, now gt has no ssp and ddp.

No legacy for GT was $139,000 and included DDP and SSP standard. The $138,000 is for standard DD and SS.

 

[Babyrocko1908]

Thank you for correcting me. How do I edit my comment about legacy pricing for GT above? I don't want to spread misinformation.

You can't after 10 minutes of posting the edit button disappears.

 

[ben_2514]

Lucid Announces $7,500 EV Credit on the Purchase of Select Lucid Air Models

Limited time offer available for select configurations of Lucid Air Touring and Air Grand Touring ordered by March 31, 2023

www.lucidmotors.com

Here's the PR, sad to see Stealth configurations are not eligible.

...Offer not applicable to vehicles with Stealth look, PurLuxe interior, or Metal roof...

 

[xponents]

Lucid Announces $7,500 EV Credit on the Purchase of Select Lucid Air Models

Limited time offer available for select configurations of Lucid Air Touring and Air Grand Touring ordered by March 31, 2023

www.lucidmotors.com

Here's the PR, sad to see Stealth configurations are not eligible.

Thats really random in my opinion. What did stealth do?

 

[Drendino]

I didn't say conspiracy. However, your point is well taken. Some of the cars they are trying to move now may have been from cancellations. My guess still is that they overproduced GT's to a certain extent with the hopes that they could sell the higher price point vehicles so they built extra while the production like was still set up for that trim. And I am also guessing that the same thing is happening with fully loaded touring models that are part of this promotion. They were very clear that they were producing fully loaded tourings first (before they changed their production line to non DDP and SSP vehicles). It makes sense to me that if they have an opportunity to sell some more of those that they produce them now before switching production. From a business standpoint, if this was their decision making process, I get it. But from a customer standpoint, as someone who has been waiting for 2 1/2 years and lost the tax credit, it is very frustrating.

I agree with you that they overestimated demand and didn’t adjust production enough as the economy went downhill. I also understand your frustration because I also lost the tax credit for my Infinitely delayed R1S. I

There were a lot of conversations here last year that Lucid would somehow not be affected by the loss of the tax credits in the upper trim levels because it is a luxury car company. I strongly disagreed and can say that the tax credit played into my personal decision to buy my GT.

I knew that what our fork tonged politicians shoveled us would be terrible for the EV movement and in the end it mostly benefited the legacy auto makers and Tesla. Lucid’s actions today pretty much end that debate on the importance of the credit. The weak production numbers of the higher trim cars should tell Lucid where they need to compete. I hope they make the right pricing decision on the Gravity, or it will suffer the same fate of low demand as the GTs. The economy is just not there to support it right now.