Reservation Cancellations feedback

[Negan1000]

If they were counting on the 7500 rebate, they should have confirmed their order before the IRA was signed.

 

[Codyroo]

It makes sense that people ordering the Pure would more likely cancel their order if they can't qualify for the $7,500 tax credit. Likely the pure was appealing for the cost, as you could get in for $69,900 after the tax credit (not including sales tax, etc). $69,900 was likely a stretch, but for a car with the size and range of a Model S, they thought it was a deal. But now you lose the tax credit and suddenly a Model 3 seems a bit more appealing, or an Ioniq 5, Kia EV6, VW ID4, BMW, etc. Lots of new EV's coming on line. I suspect that the people dropping their reservation may delay buying a new EV or will go with an EV that does qualify for the tax credit or one that is simply less expensive with/without the tax credit.

And yes, with car loan interest rates, food inflation, and other "wonderful and creative" forms of price gouging, it makes sense that they may pull back a bit from a $70,000 + committment.

 

[Codyroo]

If they were counting on the 7500 rebate, they should have confirmed their order before the IRA was signed.

But that requires "paying attention".......The folks on this forum are going to be a bit more "gung ho" in their enthusiasm. For others that plopped down a $300 refundable deposit, they likely had other things going on in their lives. My wife would have had zero idea (and she is not an unintelligent person, by any stretch) about the transition doc/clause. I only knew about it because I frequent these forums and then paid attention to my emails when it came in.

 

[HariK]

I'm surprised how many young people stretch themselves financially to buy a high-end car - a depreciating asset.

Because they cannot afford down payment on a house and staying with parents or room mates and so car is the only thing they can feel good about?

 

[HC_79]

Also there's a lot more options coming to market at cheaper prices. It's going to be interesting to see if Lucid's bet on range will pay off or people will forgo range. From a tech (standard options) standpoint all these new players are offering more out the gate than Lucid is and now that Highway Assist isn't even standard it does make the Pure and Touring models tough to swallow for the price point. Here's yet another new player on the market....

VF 8 | VinFast

vinfastauto.us

 

[Mr_rhythm]

Also there's a lot more options coming to market at cheaper prices. It's going to be interesting to see if Lucid's bet on range will pay off or people will forgo range. From a tech (standard options) standpoint all these new players are offering more out the gate than Lucid is and now that Highway Assist isn't even standard it does make the Pure and Touring models tough to swallow for the price point. Here's yet another new player on the market....

VF 8 | VinFast

vinfastauto.us

Wow - they're doing a battery subscription option...

VinFast Battery Subscription Program in US - VinFast

Unlimited mileage in the monthly battery subscription for peace of mind! Exclusive guarantee. Affordability. Sustainability. Get it now for a permanent subscription fee for the product’s lifetime!

vinfastauto.us

 

[Bunnylebowski]

The market is in the toilet and everyone is worried about recession and inflation is at a peak, so being conservative financially is going to hit any expensive car and have some buyers back away, $7500 tax credit or not. Cancellations I’ve heard of were because of the financial situation at this moment and and in anticipation of declining housing prices combined with less appreciation of any asset (IE your 401k is in bad shape and your home is coming off it’s peak value if you didn’t sell already), so prospective EV buyers are looking at a market segment lower than Lucid now like Genesis/Polestar/Tesla/Hyundai/Kia. A tax credit isn’t money in your pocket, it’s a reduction of liability and you might see some of that $7500 back next May or something. Buying a $50K EV instead of a $90K one is money in your pocket now, which depending on your situation might be wiser.

 

[Bunnylebowski]

Wow - they're doing a battery subscription option...
View attachment 6688

VinFast Battery Subscription Program in US - VinFast

Unlimited mileage in the monthly battery subscription for peace of mind! Exclusive guarantee. Affordability. Sustainability. Get it now for a permanent subscription fee for the product’s lifetime!

vinfastauto.us

What’s not surprising is that the thing looks like every other damn SUV on the road. . Like isn’t VinFast a brand new EV Startup? So they went and just mashed together some old SUV designs? Lame.

 

[hydbob]

What’s not surprising is that the thing looks like every other damn SUV on the road. . Like isn’t VinFast a brand new EV Startup? So they went and just mashed together some old SUV designs? Lame.

Vinfast is a huge conglomerate in Vietnam. They can sink a ton of money into the car venture if they want.

 

[HariK]

Wow - they're doing a battery subscription option...
View attachment 6688

VinFast Battery Subscription Program in US - VinFast

Unlimited mileage in the monthly battery subscription for peace of mind! Exclusive guarantee. Affordability. Sustainability. Get it now for a permanent subscription fee for the product’s lifetime!

vinfastauto.us

I always keep my cars for 15 to 20 years and never looked at any lease ever. This one can appeal to those with limited capital or business lease perhaps.

 

[Grubie]

Funny, I just got off the telephone with a rep from Lucid. I have a AT on order. I was advised by Lucid that, since I don't want DDP, I wouldn't hear from them until Q1 2023. I say that's an early date. Since I will not be taking delivery in 2022, I will lose the $7500 credit. However, if I am willing to pay $10000 for DDP, I might get the car in 2022 and therefore qualify for the credit. I feel like this is strictly a money grab (Lucid makes an additional $10000) or I lose the $7500 credit. They claim it's only costing me $2500. Crazy math.
I am still going to get my AT, even without the credit. I don't want to pay $10000 for an "option" that I don't need.

 

[noobzilla]

I'm surprised how many young people stretch themselves financially to buy a high-end car - a depreciating asset.

What's considered young nowadays?

 

[Bobby]

Funny, I just got off the telephone with a rep from Lucid. I have a AT on order. I was advised by Lucid that, since I don't want DDP, I wouldn't hear from them until Q1 2023. I say that's an early date. Since I will not be taking delivery in 2022, I will lose the $7500 credit. However, if I am willing to pay $10000 for DDP, I might get the car in 2022 and therefore qualify for the credit. I feel like this is strictly a money grab (Lucid makes an additional $10000) or I lose the $7500 credit. They claim it's only costing me $2500. Crazy math.
I am still going to get my AT, even without the credit. I don't want to pay $10000 for an "option" that I don't need.

The math seems right to me.

 

[HariK]

What's considered young nowadays?

Here are my 2 cents. Anyone not afraid to eat fast food whenever and in the dating scene?

 

[Grubie]

The math seems right to me.

If I wanted DDP. I enjoy driving a car, not auto driving.

 

[noobzilla]

Because they cannot afford down payment on a house and staying with parents or room mates and so car is the only thing they can feel good about?

Here are my 2 cents. Anyone not afraid to eat fast food whenever and in the dating scene?

Can't blame em too much. Income to home price ratio have gotten worse each generation. Not too bad living with roommates or parents either. Can get sad living all alone so there's financial and sometimes emotional advantage being with parents. I guess just depends on culture and relationship with parents. I know in the US there seems to be obsession to move out of parent's house asap.

And here I am literally eating at Mcdonalds haha. Not in dating scene though.

 

[noobzilla]

Funny, I just got off the telephone with a rep from Lucid. I have a AT on order. I was advised by Lucid that, since I don't want DDP, I wouldn't hear from them until Q1 2023. I say that's an early date. Since I will not be taking delivery in 2022, I will lose the $7500 credit. However, if I am willing to pay $10000 for DDP, I might get the car in 2022 and therefore qualify for the credit. I feel like this is strictly a money grab (Lucid makes an additional $10000) or I lose the $7500 credit. They claim it's only costing me $2500. Crazy math.
I am still going to get my AT, even without the credit. I don't want to pay $10000 for an "option" that I don't need.

Wait, does delivery have to take place in 2022? I thought as long as we sign the "binding contract" then it's fine whenever the car gets delivered?

 

[Bunnylebowski]

If I wanted DDP. I enjoy driving a car, not auto driving.

The issue is that I think DDP gets you the 360 camera and not just highway assist, right? The 360 camera for me is super useful, saving me from curbing the wheels and makes backing out of spots with cars on either side very helpful. I think what you should do is test drive an Air GT with DDPro and try out those extras and see if it’s worth it for you. It may well not be worth it, but having the car I’d be nervous without the 360 degree camera. Highway assist is a bonus. Auto-park doesn’t matter, you don’t need that.

 

[noobzilla]

If I wanted DDP. I enjoy driving a car, not auto driving.

Can look at DDP from safety and security perspective. I dont trust auto driving but considering it for added safety features. If it saves me from one major collision then it would have paid for itself.

 

[noobzilla]

The issue is that I think DDP gets you the 360 camera and not just highway assist, right? The 360 camera for me is super useful, saving me from curbing the wheels and makes backing out of spots with cars on either side very helpful. I think what you should do is test drive an Air GT with DDPro and try out those extras and see if it’s worth it for you. It may well not be worth it, but having the car I’d be nervous without the 360 degree camera. Highway assist is a bonus. Auto-park doesn’t matter, you don’t need that.

When's the last time youve used autopark? I totally forgot that exists. My parallel parking skills suck I could use that actually lol