Price now reduced by $7500

[Halodde]

My DA had mentioned metal roof option would start building towards the end of March, with April delivery, but with a number of people responding to this encouragement to change to glass roof, metal will likely get delayed to April or later, I'm guessing. But as I mentioned before, I think the exclusions from the "selected" models were based on earlier projected availability where people might have felt their config should have been a Q4/22 delivery and expected a tax credit. If Lucid had already told you that your options were a "later" delivery, then you would have given up on the $7500 tax credit. It does suck just as much as buying the appliance or something that was a bit pricey then finding a week later that there's now a discount because there's a newer model available. Or buying a stock at $20 and it drops to $15 the next week.

Not necessarily. At least not in my case. I selected Mojave which meant that I was giving up on the 2022 delivery. And, as a result, I removed glass from my order. Now, I'm adding glass back in, getting Mojave and getting the discount. So, other people who had given up on the tax credit should still try for this.

 

[digiboxer]

Yeah... I'm guessing the discount is to promote/sell/deliver the vehicles that the assembly lines are currently producing. They are set up to make the glass roofs right now. And, from manufacturing and financial standpoints, it makes sense to produce and sell as many as possible before they have to pause to switch the lines to produce the metal roof vehicles. This is especially true heading into the end of the quarter when they are going to have to report their sales to investors. They don't want to have to stop production to make the switch if they can avoid it. Just guessing of course

This is probably wishful, but I think they might extend the discount past April 30, depending on market conditions. It would have been dumb not to include an expiration date because without a sense of urgency a lot of people would likely sit back....hope rates go down, see what other car makers are offering etc.

If the cut works and jump-starts sales, it would be a big gamble to raise prices again. If it doesnt work, raising prices isn't going help...

 

[Halodde]

For the sake of future buyers, I fully agree.

But, as far as raising prices, well, that's the beauty of pricing strategies, right? They didn't actually "lower prices." They are offering a temporary discount. By doing it this way, the discount will quietly go away. But, if they had actually lowered prices, there would be plenty of stories in the media and online if they had to formally raise prices back to a certain level. Bottom line is that since they didn't lower prices, they don't have to raise prices at the end of the promotion to keep them where they are.

 

[digiboxer]

For the sake of future buyers, I fully agree.

But, as far as raising prices, well, that's the beauty of pricing strategies, right? They didn't actually "lower prices." They are offering a temporary discount. By doing it this way, the discount will quietly go away. But, if they had actually lowered prices, there would be plenty of stories in the media and online if they had to formally raise prices back to a certain level. Bottom line is that since they didn't lower prices, they don't have to raise prices at the end of the promotion to keep them where they are.

"A rose by any other name would smell as sweet..."

 

[off]

Went ahead and converted my aluminum roof AT legacy order to a glass roof as well. New order sheet will come in with legacy pricing, with the final sales invoice showing the $7,500 deduction.

 

[digiboxer]

Went ahead and converted my aluminum roof AT legacy order to a glass roof as well. New order sheet will come in with legacy pricing, with the final sales invoice showing the $7,500 deduction.

How do you do it? Under your account on the Lucid site? Are you sure you'll get it before the promo ends? Thx

 

[off]

Hello @digiboxer, I requested a call from my assigned DA. We went over the details as other kind members of this forum have mentioned. The DA will amend the order to add the glass canopy, however, the $7,500 deduction won't show until the final sales invoice.

This is for orders before March 31st, not necessarily deliveries (we don't have the rediculousness of gov't deadlines to beat now). Although my DA did mention the glass canopy cars are readily available within the month timeframe, perhaps due to reasons already mentioned in this thread.

 

[digiboxer]

Hello @digiboxer, I requested a call from my assigned DA. We went over the details as other kind members of this forum have mentioned. The DA will amend the order to add the glass canopy, however, the $7,500 deduction won't show until the final sales invoice.

This is for orders before March 31st, not necessarily deliveries (we don't have the rediculousness of gov't deadlines to beat now). Although my DA did mention the glass canopy cars are readily available within the month timeframe, perhaps due to reasons already mentioned in this thread.

Thanks for explaining. I guess the worst case---changing to glass, but missing the delivery deadline---can be avoided by changing back to metal when the time comes.

 

[lucidukan]

Used credit to upgrade to DDP on legacy Touring order. Got legacy pricing on DDP. Figured this might be more valuable over the life of the car (and resale value, if needed) than getting the credit.

 

[gsoho]

IDK I've read this and am still confused!!! Sorry. The price on their website is not NET of the $7500 rebate? If there is such a backlog how can one get one by the end of April '23?

If I order by end of March is my rebate locked in? What if it takes 12 months to get the car?

Finally I find it hard to imagine once they offer this rebate they can take it away.

 

[Paco]

If an order is converted from pure to touring, do you get a 2022 or 2023 model?
If you watch YouTube “Bear‘s workshop“ flyovers. There are a lot of vehicles parked since November.

 

[HC_79]

If an order is converted from pure to touring, do you get a 2022 or 2023 model?
If you watch YouTube “Bear‘s workshop“ flyovers. There are a lot of vehicles parked since November.

I hope this is addressed on the earnings call.

• Are the service centers that backed up that they can't handle the volume of cars now coming off the production line
• Are people cancelling leaving Lucid with a surplus of cars as demand is not there
• Are they still having logistics issues

They could also be waiting to go somewhere but 2000+ cars sitting in a parking lot for months on end isn't a good look from a revenue standpoint. The only part on demand that doesn't make sense is if these cars truly aren't sold or a result of cancellations then why would you continue to produce more and not get the Pure's on the line now. Cars are moving out of those lots though, Bear showed in his latest video that not all the cars are just sitting their for weeks on end.

Lucid didn't knock $7,500 off the price to be nice. My biggest suspicion is the cars simply aren't selling. Not entirely Lucid's fault given the economy but Tesla dropping prices certainly won't be helping them.

 

[Babyrocko1908]

Bears has no more knowledge about the status of the 2,000 cars in the factory parking lot than any of us do. My gut is telling me that the bulk of those cars are waiting to be shipped to the Kingdom and European markets. It's really the only thing that makes sense. Ask yourself, why would Lucid continue to stockpile cars if there wasn't an order for them? The Saudi's are the only ones that we publicly know has a large order for cars in.

 

[joec]

If an order is converted from pure to touring, do you get a 2022 or 2023 model?
If you watch YouTube “Bear‘s workshop“ flyovers. There are a lot of vehicles parked since November.

All Touring cars are year 2023. As well as all Pures.

 

[digiboxer]

I hope this is addressed on the earnings call.

• Are the service centers that backed up that they can't handle the volume of cars now coming off the production line
• Are people cancelling leaving Lucid with a surplus of cars as demand is not there
• Are they still having logistics issues

They could also be waiting to go somewhere but 2000+ cars sitting in a parking lot for months on end isn't a good look from a revenue standpoint. The only part on demand that doesn't make sense is if these cars truly aren't sold or a result of cancellations then why would you continue to produce more and not get the Pure's on the line now. Cars are moving out of those lots though, Bear showed in his latest video that not all the cars are just sitting their for weeks on end.

Lucid didn't knock $7,500 off the price to be nice. My biggest suspicion is the cars simply aren't selling. Not entirely Lucid's fault given the economy but Tesla dropping prices certainly won't be helping them.

100%

 

[Halodde]

I hope this is addressed on the earnings call.

• Are the service centers that backed up that they can't handle the volume of cars now coming off the production line
• Are people cancelling leaving Lucid with a surplus of cars as demand is not there
• Are they still having logistics issues

They could also be waiting to go somewhere but 2000+ cars sitting in a parking lot for months on end isn't a good look from a revenue standpoint. The only part on demand that doesn't make sense is if these cars truly aren't sold or a result of cancellations then why would you continue to produce more and not get the Pure's on the line now. Cars are moving out of those lots though, Bear showed in his latest video that not all the cars are just sitting their for weeks on end.

Lucid didn't knock $7,500 off the price to be nice. My biggest suspicion is the cars simply aren't selling. Not entirely Lucid's fault given the economy but Tesla dropping prices certainly won't be helping them.

I've been saying this for a while now

 

[digiboxer]

Bears has no more knowledge about the status of the 2,000 cars in the factory parking lot than any of us do. My gut is telling me that the bulk of those cars are waiting to be shipped to the Kingdom and European markets. It's really the only thing that makes sense. Ask yourself, why would Lucid continue to stockpile cars if there wasn't an order for them? The Saudi's are the only ones that we publicly know has a large order for cars in.

I think the answers to these questions will determine the future of the company..and I believe in it's future, mostly because of the Saudi backing. In many ways, the perfect partner.

If orders for Air variants are shrinking significantly, there is no Act 2 until Gravity sometime in 2024---and also at a $100k+ price point This could create a real cashflow problem as they bridge to what they Hope will be bigger sellers.

The last capital raise (almost all by the Saudis) was relatively small $2B? Was that because management showed them a bridge to positive cashflow---or did the Saudis choose to put management on a short leash?

If the current business plan needs a reset it might be best for everyone if Saudi takes it private.

Meanwhile the analyst community--who know much more than I--is all over the place on Lucid's future

I find it very interesting

 

[rnr]

Tok me multiple emails and calls but my DA confirmed that they would not apply it to my car which was delivered 10 days before the incentive. The best part is that they still owe me compensation for the delay and are saying that could take another 4 weeks which to me means that the delivery process isnt actually complete. I've asked to speak to a manger but dont expect a change.

They can keep the $7500 but they have lost a customer for life who will never ever, ever vouch for the company again. If anyone asks me how the car is I will honestly say that the product is fine but I would not recommend their customer service or delivery process to anyone. Very badly mishandled by their exec/sales/marketing team.

 

[Lucken]

If the current business plan needs a reset it might be best for everyone if Saudi takes it private.

Meanwhile the analyst community--who know much more than I--is all over the place on Lucid's future

I find it very interesting

Some might find it very scary.

 

[Babyrocko1908]

Tok me multiple emails and calls but my DA confirmed that they would not apply it to my car which was delivered 10 days before the incentive. The best part is that they still owe me compensation for the delay and are saying that could take another 4 weeks which to me means that the delivery process isnt actually complete. I've asked to speak to a manger but dont expect a change.

They can keep the $7500 but they have lost a customer for life who will never ever, ever vouch for the company again. If anyone asks me how the car is I will honestly say that the product is fine but I would not recommend their customer service or delivery process to anyone. Very badly mishandled by their exec/sales/marketing team.

I'm sorry!