So long for now ! ? !

[Pittsburgher]

It is with a degree of sadness to say that I have sold (traded) my '23 Air Touring, delivered in March of 2023.

Stunning car, as you all know. Ok, slow key fob recognition and some other SMALL annoyances . . . but IMHO, well worth the admission to have such a superb vehicle.

The main drivers for this decision were around depreciation, fear of continued depreciation in this space (Lucid specifically, but luxury EV's in general) AND the likelihood of next gen batteries being a leap step in terms of 1) making EV's much more competitive to ICE vehicles for cost, range and charging times and 2) the further depreciation that will occur as new EV's rollout with greatly improved battery tech. So getting out of my car while it still has ~ 50% of it's value after 2.5 years and 10K on the odo. Someone will be getting a REALLY nice car at a very reasonable cost.

Did I know that a ~ $100K luxury vehicle would have high depreciation ? Of course. But honestly I expected at this point maybe to be at 65% retention (vs. 50%) and optimism that depreciation would slow significantly after 3 years. Yes, of course it will have slowed (otherwise in 3 more years it would be worth $0 and we all know that will not be the case). But I suspect that it will lose another $20 - $25K over the next 2-3 years.

When I took delivery the EV world was in a VERY different place - all the BIG guys (Ford, VW, MB BMW) investing like Crazy. They have since scaled back significantly. Lucid has not come anywhere near it's sales goals, and subsequently, I think that hurts them terribly - as most buyers are still afraid to buy from a small/unknown company with concerns of having the parent company go bankrupt. Or still be in a position where the nearest service center is 200-300 miles away or more. In late 2022, I honestly thought buying an EV was protecting me from the depreciation I might have seen had I gone out and purchased a similarly priced MB, BMW, or Audi - as I thought 5 to years into the future (2028-2031) that ICE vehicles would be really out of favor and the supply/demand equation would CRUSH their value. That might (likely will) still happen - although I think it will take much more time and the require the aforementioned battery tech to really get EV sales competitive with ICE. Of course the loss of Government incentives has only made it that much harder for manufacturers to keep MSRP down, and accelerate EV supply numbers. I do feel bad for the traditional ICE car makers as they know EV's are the inevitable future of transportation, but they have to walk a tightrope of making cars that people desire (both functionality and affordability) and making a good profit for their shareholders.

So until next gen battery tech is out and proven, costs come down a bit, and I can buy THAT vehicle after it is 2 or 3 years old, I'm going to sit on the sidelines. That said, I am wholeheartedly rooting for EV's and really hope my next vehicle is a Gravity mid cycle update (with SS batteries) or Lucid mid size EV (again with SS batteries) that I can buy used for $40K or less.

Curious how you all feel about these points and if any others have decided to sell their Lucid out of similar concerns and logic.

 

[Bobby]

It is with a degree of sadness to say that I have sold (traded) my '23 Air Touring, delivered in March of 2023.

Stunning car, as you all know. Ok, slow key fob recognition and some other SMALL annoyances . . . but IMHO, well worth the admission to have such a superb vehicle.

The main drivers for this decision were around depreciation, fear of continued depreciation in this space (Lucid specifically, but luxury EV's in general) AND the likelihood of next gen batteries being a leap step in terms of 1) making EV's much more competitive to ICE vehicles for cost, range and charging times and 2) the further depreciation that will occur as new EV's rollout with greatly improved battery tech. So getting out of my car while it still has ~ 50% of it's value after 2.5 years and 10K on the odo. Someone will be getting a REALLY nice car at a very reasonable cost.

Did I know that a ~ $100K luxury vehicle would have high depreciation ? Of course. But honestly I expected at this point maybe to be at 65% retention (vs. 50%) and optimism that depreciation would slow significantly after 3 years. Yes, of course it will have slowed (otherwise in 3 more years it would be worth $0 and we all know that will not be the case). But I suspect that it will lose another $20 - $25K over the next 2-3 years.

When I took delivery the EV world was in a VERY different place - all the BIG guys (Ford, VW, MB BMW) investing like Crazy. They have since scaled back significantly. Lucid has not come anywhere near it's sales goals, and subsequently, I think that hurts them terribly - as most buyers are still afraid to buy from a small/unknown company with concerns of having the parent company go bankrupt. Or still be in a position where the nearest service center is 200-300 miles away or more. In late 2022, I honestly thought buying an EV was protecting me from the depreciation I might have seen had I gone out and purchased a similarly priced MB, BMW, or Audi - as I thought 5 to years into the future (2028-2031) that ICE vehicles would be really out of favor and the supply/demand equation would CRUSH their value. That might (likely will) still happen - although I think it will take much more time and the require the aforementioned battery tech to really get EV sales competitive with ICE. Of course the loss of Government incentives has only made it that much harder for manufacturers to keep MSRP down, and accelerate EV supply numbers. I do feel bad for the traditional ICE car makers as they know EV's are the inevitable future of transportation, but they have to walk a tightrope of making cars that people desire (both functionality and affordability) and making a good profit for their shareholders.

So until next gen battery tech is out and proven, costs come down a bit, and I can buy THAT vehicle after it is 2 or 3 years old, I'm going to sit on the sidelines. That said, I am wholeheartedly rooting for EV's and really hope my next vehicle is a Gravity mid cycle update (with SS batteries) or Lucid mid size EV (again with SS batteries) that I can buy used for $40K or less.

Curious how you all feel about these points and if any others have decided to sell their Lucid out of similar concerns and logic.

What did you get to replace it?

 

[TahoeMichael]

It is with a degree of sadness to say that I have sold (traded) my '23 Air Touring, delivered in March of 2023.

Stunning car, as you all know. Ok, slow key fob recognition and some other SMALL annoyances . . . but IMHO, well worth the admission to have such a superb vehicle.

The main drivers for this decision were around depreciation, fear of continued depreciation in this space (Lucid specifically, but luxury EV's in general) AND the likelihood of next gen batteries being a leap step in terms of 1) making EV's much more competitive to ICE vehicles for cost, range and charging times and 2) the further depreciation that will occur as new EV's rollout with greatly improved battery tech. So getting out of my car while it still has ~ 50% of it's value after 2.5 years and 10K on the odo. Someone will be getting a REALLY nice car at a very reasonable cost.

Did I know that a ~ $100K luxury vehicle would have high depreciation ? Of course. But honestly I expected at this point maybe to be at 65% retention (vs. 50%) and optimism that depreciation would slow significantly after 3 years. Yes, of course it will have slowed (otherwise in 3 more years it would be worth $0 and we all know that will not be the case). But I suspect that it will lose another $20 - $25K over the next 2-3 years.

When I took delivery the EV world was in a VERY different place - all the BIG guys (Ford, VW, MB BMW) investing like Crazy. They have since scaled back significantly. Lucid has not come anywhere near it's sales goals, and subsequently, I think that hurts them terribly - as most buyers are still afraid to buy from a small/unknown company with concerns of having the parent company go bankrupt. Or still be in a position where the nearest service center is 200-300 miles away or more. In late 2022, I honestly thought buying an EV was protecting me from the depreciation I might have seen had I gone out and purchased a similarly priced MB, BMW, or Audi - as I thought 5 to years into the future (2028-2031) that ICE vehicles would be really out of favor and the supply/demand equation would CRUSH their value. That might (likely will) still happen - although I think it will take much more time and the require the aforementioned battery tech to really get EV sales competitive with ICE. Of course the loss of Government incentives has only made it that much harder for manufacturers to keep MSRP down, and accelerate EV supply numbers. I do feel bad for the traditional ICE car makers as they know EV's are the inevitable future of transportation, but they have to walk a tightrope of making cars that people desire (both functionality and affordability) and making a good profit for their shareholders.

So until next gen battery tech is out and proven, costs come down a bit, and I can buy THAT vehicle after it is 2 or 3 years old, I'm going to sit on the sidelines. That said, I am wholeheartedly rooting for EV's and really hope my next vehicle is a Gravity mid cycle update (with SS batteries) or Lucid mid size EV (again with SS batteries) that I can buy used for $40K or less.

Curious how you all feel about these points and if any others have decided to sell their Lucid out of similar concerns and logic.

It is tempting to wait three years and buy a low mileage Gravity Grand Touring for ~half of the price Lucid is asking for a new Gravity. I've been surprised by how many very low mileage Airs are for sale on Lucid's website, and so I'm assuming the Gravity will be a similar story.

I'm not overly concerned about solid-state batteries crushing the resale value of EVs in the near term. Battery technology moves slower than a lot of people seem to suspect. I know companies are getting steadily closer to producing them, but I still think we're a few years away from them being in the market. And when they do launch, there's a good chance they'll be a premium battery option, with Lithium Ion being the mid-price option, and LFP being the discount option. Second, I think the steady drumbeat of news stories announcing that battery degradation isn't as bad as many feared will somewhat soften the blow of EV depreciation. There will still be plenty, but it will be driven by a combo of the relatively high initial purchase price, plus other aspects of vehicle design changing (charging rates, NACS plugs, better software stacks, etc).

For the GGT I'm probably about to purchase, the residual value for the 3 year/10k miles lease quote they gave me is 57% of the vehicle price. Not as bad as the 50% value retained that you're seeing, but of course also not as good as the 65% you hoped for.

 

[HC_79]

It is with a degree of sadness to say that I have sold (traded) my '23 Air Touring, delivered in March of 2023.

Stunning car, as you all know. Ok, slow key fob recognition and some other SMALL annoyances . . . but IMHO, well worth the admission to have such a superb vehicle.

The main drivers for this decision were around depreciation, fear of continued depreciation in this space (Lucid specifically, but luxury EV's in general) AND the likelihood of next gen batteries being a leap step in terms of 1) making EV's much more competitive to ICE vehicles for cost, range and charging times and 2) the further depreciation that will occur as new EV's rollout with greatly improved battery tech. So getting out of my car while it still has ~ 50% of it's value after 2.5 years and 10K on the odo. Someone will be getting a REALLY nice car at a very reasonable cost.

Did I know that a ~ $100K luxury vehicle would have high depreciation ? Of course. But honestly I expected at this point maybe to be at 65% retention (vs. 50%) and optimism that depreciation would slow significantly after 3 years. Yes, of course it will have slowed (otherwise in 3 more years it would be worth $0 and we all know that will not be the case). But I suspect that it will lose another $20 - $25K over the next 2-3 years.

When I took delivery the EV world was in a VERY different place - all the BIG guys (Ford, VW, MB BMW) investing like Crazy. They have since scaled back significantly. Lucid has not come anywhere near it's sales goals, and subsequently, I think that hurts them terribly - as most buyers are still afraid to buy from a small/unknown company with concerns of having the parent company go bankrupt. Or still be in a position where the nearest service center is 200-300 miles away or more. In late 2022, I honestly thought buying an EV was protecting me from the depreciation I might have seen had I gone out and purchased a similarly priced MB, BMW, or Audi - as I thought 5 to years into the future (2028-2031) that ICE vehicles would be really out of favor and the supply/demand equation would CRUSH their value. That might (likely will) still happen - although I think it will take much more time and the require the aforementioned battery tech to really get EV sales competitive with ICE. Of course the loss of Government incentives has only made it that much harder for manufacturers to keep MSRP down, and accelerate EV supply numbers. I do feel bad for the traditional ICE car makers as they know EV's are the inevitable future of transportation, but they have to walk a tightrope of making cars that people desire (both functionality and affordability) and making a good profit for their shareholders.

So until next gen battery tech is out and proven, costs come down a bit, and I can buy THAT vehicle after it is 2 or 3 years old, I'm going to sit on the sidelines. That said, I am wholeheartedly rooting for EV's and really hope my next vehicle is a Gravity mid cycle update (with SS batteries) or Lucid mid size EV (again with SS batteries) that I can buy used for $40K or less.

Curious how you all feel about these points and if any others have decided to sell their Lucid out of similar concerns and logic.

Completely understand your reasoning. I still stuck with Lucid on the Gravity but offloaded the Air as quick as possible to recoup what I could and opted to pay a little higher premium and leased the Gravity instead. If at the end of the lease the residual is nothing near what the car is worth, not my problem, it’s BOA’s! I fully expected it to depreciate faster than other non luxury vehicles but even with those expectations I was completely caught off guard with how fast it actually depreciated.

I know others will disagree but for reasons you mention, EV’s just aren’t a smart cash investment compared to ICE (although, questionable if any car is a smart cash investment), the depreciation just doesn’t seem to be stabilizing for EV’s and with them being unfairly embroiled in politics, I don’t think it’s going to help the EV market for years to come.

I don’t think I’ll buy an EV in this decade. I can’t go back to ICE so leasing is my path forward for the foreseeable future.

 

[LVAGT]

I'm actually on the same boat, sold my 2022 Air GT for a huge loss, but it is what it is, life goes on. I'm actually leasing now as well, gonna keep leasing until more EVs are out, and try to buy used Evs in the future.

Best of luck, my friend; you aren't the only person. I have noticed that it's much harder to sell a Lucid than a Tesla in the used market.

 

[L-Dude]

OP I totally get where you're coming from. While new battery technology appears to be on the horizon, it will (IMO) take many years for it to percolate down to the retail level. I wanted to lease my Air, but that didn't work out so I am ending up buying it. I will probably take a hit when I sell/trade it, but honestly that isn't going to make a bit of difference to me. The car is just sooooooo good. My car's "problems" are tiny (I understand that's not the case for everyone and I feel badly for those of you with problem cars) and it is an awesome ride. If I had to worry about this purchase for financial reasons, I would feel differently--heck I wouldn't own a car from a company on questionable financial footing.

One thing is certain: I'm pretty sure I'll never drive a non-EV.

 

[Pittsburgher]

What did you get to replace it?

Well . . . wasn't planning to get anything as the Lucid was a 3rd / 4th vehicle and clearly (10K miles in 2.5 years) not a typical daily driver. Was just going to sit on the cash for a few years. Best laid plans ?

I have been a lifelong Jag fan and REALLY interested in older (50's-70's) cars that have been restored but with some modern reliability built into the restoration (call it resto-mod light ?). Low and behold, right around the time I decided to sell the AT, a 71 e-type coupe came up for sale. It's fully restored (exterior, interior, suspension) and retrofitted with an AJ16 4.0l I^ and ZF4HP24 trans from a 1996 XJS. Coil on plug, OBDII, etc. It was built by a lifelong car guy in Roswell GA, who did a really nice job with pretty much everything except the paint - which doesn't bother me as I really did not want a garage queen that I was afraid to drive.



So there's that !

 

[mauricef]

Thanks for this thread. I have a Gravity grand touring in production and trying to decide whether to lease or buy. I typically by and trade when I find something I like more down the road. The rapid depreciation I am seeing on the Airs has me definitely thinking lease this time.

 

[Leftlane]

I always get confused when people lock in a huge loss because they are worried about further future depreciation. If you like your car, it doesn’t have any major issues, and you’ve already swallowed the biggest part of the depreciation curve, just drive it and enjoy it. There are basically no cars that you will use as a regular driver that will hold much value at all, and definitely not any high dollar luxury or EV cars.

I get it if you want out, it’s been a PITA, you can’t make the payments anymore, or whatever - but to get rid of something you really like with almost no miles on it because it might be worth less in the future is penny wise and pound foolish. To essentially pay $5 a mile plus taxes, insurance, registration etc is brutal - you could drive another 40k miles and the value probably wouldn’t be much less anyway.

And to go to a Jag? Gorgeous, but a whole different set of issues there.

 

[gavram]

I have similar thoughts with my '23 Touring. I don't know that we're quite at a point of new battery tech dropping existing EV values further, but I'm also tracking closely. I planned on just keeping the car to offset the depreciation realities, because I enjoy driving it so much, but I'm in Cleveland & the local service center is in MI and I'm concerned about costs to get the car in for service after warranty is over.

 

[LVAGT]

I have similar thoughts with my '23 Touring. I don't know that we're quite at a point of new battery tech dropping existing EV values further, but I'm also tracking closely. I planned on just keeping the car to offset the depreciation realities, because I enjoy driving it so much, but I'm in Cleveland & the local service center is in MI and I'm concerned about costs to get the car in for service after warranty is over.

Ditto, I've had a bit more issues in 2025 than in previous years of ownership. While under warranty, everything is great, but actually very concerning after the warranty ends. Although Lucid service has been great, the foreseeable cost of maintaining the vehicle is not something I want to find out.

Just to put it in perspective, my Homelink just stopped working out of the blue a few months ago, took the service 1 entire month to figure out what the issue was. I can't imagine how much it will cost for an entire month of service, looking into the issue without being frustrated and getting charged. So, it's better to just part ways and move on.

 

[Northpointe]

My last “new” car purchase was over a decade ago. Buying a new car is an emotional decision but a
lousy economic one. Same holds true with leasing. I would much rather have someone else eat the first 50% (or more) of the value and pay cash for their slightly used car. The worst of the depreciation is in the rear mirror and I can enjoy the car without thinking about how much money I’ve lost.

 

[BSheppard]

So many perspectives, here is my experience... In 2019 we purchased our first EV a Tesla Model 3 Long Range. We replaced a 5 Series BMW wagon which was a great car. We recently sold the Model 3 with 156k miles with a clean history. I don't have the total cost of ownership however we replaced the air filter a few times, had the breaks bled and 2 sets of tires. With the BMW we were in Service every 15k and I don't recall getting out of service at BMW for much less than $750. some times more. If you then factor in the savings on Gas vs electric, we pay around 17c KWH vs the cost of gas here in CA. At time of sale we recovered 25% of the original cost of the car. Retired now so the miles will plunge, still can't see my way back to a combustion engine with all those trips to the gas station.

Happily Motoring in my Gravity and sod it, you can't take it with you when you go

 

[Buffalo Bob]

In 2002, I bought a new Lexus SC430 for around $65k. I thought it was a lot of money at the time, and if I had gotten tired with it after three or four years, I'm sure I would have taken one hell of a hit. As it worked out, we have enjoyed that car for 23 years now, and intend to continue doing so. In a case like ours, that $65k was money well spent. Bottom line to me is... If you tire of your nice toys after a few years, then cars are a horrible investment, and as a subset within that, EV cars are the worst.

 

[EVCar]

Ditto, I've had a bit more issues in 2025 than in previous years of ownership. While under warranty, everything is great, but actually very concerning after the warranty ends. Although Lucid service has been great, the foreseeable cost of maintaining the vehicle is not something I want to find out.

Just to put it in perspective, my Homelink just stopped working out of the blue a few months ago, took the service 1 entire month to figure out what the issue was. I can't imagine how much it will cost for an entire month of service, looking into the issue without being frustrated and getting charged. So, it's better to just part ways and move on.

Curious how they fixed your HomeLink problem.

 

[Pittsburgher]

In 2002, I bought a new Lexus SC430 for around $65k. I thought it was a lot of money at the time, and if I had gotten tired with it after three or four years, I'm sure I would have taken one hell of a hit. As it worked out, we have enjoyed that car for 23 years now, and intend to continue doing so. In a case like ours, that $65k was money well spent. Bottom line to me is... If you tire of your nice toys after a few years, then cars are a horrible investment, and as a subset within that, EV cars are the worst.

Have definitely owned a number of cars (4?) for 12-16 years (never 23 - that's amazing !). Was pretty happy with them all (especially 2001.5 Passat 1.8t manual). Had actually planned to go back to a (144K) 2008 528i for our long trips . . . until it $h(t the bed a week after I sold the Lucid. Karma? It was definitely my wife's desire was to keep the Lucid (and maybe she was right). That said, she wouldn't drive the Lucid. And always soured when I suggest we take it on a long trip (require multiple charge stops over several days). So mixed signals on that front. But I get it. Understand all points and counterpoints made . . . and happy that I'm not entirely alone in my thoughts (and ultimately my decision). I'll probably be checking on this (really fine) forum . . . maybe with an "new (used) ownership rejoin" sometime in the future !

 

[socktucker]

Ditto, I've had a bit more issues in 2025 than in previous years of ownership. While under warranty, everything is great, but actually very concerning after the warranty ends. Although Lucid service has been great, the foreseeable cost of maintaining the vehicle is not something I want to find out.

Just to put it in perspective, my Homelink just stopped working out of the blue a few months ago, took the service 1 entire month to figure out what the issue was. I can't imagine how much it will cost for an entire month of service, looking into the issue without being frustrated and getting charged. So, it's better to just part ways and move on.

Yea there are too many little small issues that make out of warranty ownership very unappealing. I don’t know if they charge more for mobile service but I assume they do.

 

[LVAGT]

Curious how they fixed your HomeLink problem.

It had something to do with the active grill shutter. They had to send someone from Arizona to finally figure it out.

Yea there are too many little small issues that make out of warranty ownership very unappealing. I don’t know if they charge more for mobile service but I assume they do.

Yeah, through the few years I've owned it, I had to call service 2 to 3 times a year. I'd like to believe the newer ones are much better, as the 2022 and 2023 models aren't built as well.