So what's going to happen with the "bridge" leases that were offered on Air while awaiting delivery of a new Gravity?

[JoshG]

I got one of the short term (18-month) subsidized leases that Lucid called the "bridge" lease, intended to get us into an Air while we waited to get a Gravity. It sure seems that we won't get a Gravity now before the leases are up. Anyone hear anything about what Lucid is planning to do for those of us who might still be interested in a Gravity but with leases that will end?
I'm guessing we'll soon hear about some plan to offer an extension on the term of the lease? They almost certainly don't want a bunch of cars coming back to the company now as used vehicles.

(Note that there was no formal commitment or even a deposit needed on a Gravity to get one of these leases... so I'm sure not everyone will be ordering a Gravity. Not sure myself if I'm putting in an order.)

 

[Tym]

what makes you think the lease will end before you can get a gravity?

gravity is expected to be coming out q4 2024. (top trims most likely)

 

[Amster]

what makes you think the lease will end before you can get a gravity?

gravity is expected to be coming out q4 2024. (top trims most likely)

Q4 of 2024 has already here. Ordering for Gravity hasn't even begun, let alone deliveries.

 

[momo3605]

Q4 of 2024 has already here. Ordering for Gravity hasn't even begun, let alone deliveries.

I’m not even sure if the design is finalized either. From the other Gravity speculation thread sounds like they have a ton of different prototypes floating around with different seats, charge port configurations, rear seat ingress/egress differences, etc…

 

[hydbob]

I’m not even sure if the design is finalized either. From the other Gravity speculation thread sounds like they have a ton of different prototypes floating around with different seats, charge port configurations, rear seat ingress/egress differences, etc…

Gravity design is essentially set. All they are waiting on is sign off on theRCs.

 

[tonybot]

I got one of the short term (18-month) subsidized leases that Lucid called the "bridge" lease, intended to get us into an Air while we waited to get a Gravity. It sure seems that we won't get a Gravity now before the leases are up. Anyone hear anything about what Lucid is planning to do for those of us who might still be interested in a Gravity but with leases that will end?
I'm guessing we'll soon hear about some plan to offer an extension on the lease terms. They almost certainly don't want a bunch of cars coming back to the company now as used vehicles.

(Note that there was no formal commitment or even a deposit needed on a Gravity to get one of these leases... so I'm sure not everyone will be ordering a Gravity. Not sure myself if I'm putting in an order.)

I have a 36-month lease that started in July. My sales advisor at that time told me that it was possible to extend the lease for six more months at the end. I hope that will buy you a little bit of cushion. I, too, am interested in Gravity, assuming I can convince my family to get rid of our Lexus RXL and become an all-EV household. My brain is not really sure if that is a prudent call (to get rid of our ICE) but my heart is settled on Gravity!!

 

[DeaneG]

I got one of the short term (18-month) subsidized leases that Lucid called the "bridge" lease, intended to get us into an Air while we waited to get a Gravity....

When is your lease up?

 

[JoshG]

what makes you think the lease will end before you can get a gravity?

gravity is expected to be coming out q4 2024. (top trims most likely)

I suppose it's possible that SOMEONE who got their 18 month bridge lease when it was first offered in September 2023 just might barely take delivery of a Gravity when the lease ends in February 2025, assuming their order is in, they want the highest spec Gravity, etc. It's partly a guess as to when volume deliveries (not just production samples) begin to customers.

But Lucid will still have some customers like me, who took this offer but for whom the desired Gravity may not yet even be orderable, much less delivered by the lease end.

The question was just about if they'll offer us an extension of the lease terms, maybe with a Gravity order/deposit, and say we can keep driving the Air until our Gravity is delivered, which was the intent of the program. Or if they'll just start taking back these low-mileage used Airs and put them into the used inventory to resell, which might well lower their important new car delivery numbers right now. There's a financial implication to the company too, if they start taking back these Airs, since the residuals on these is higher than their market value today given the price drops they've put in place since these leases were offered.

Another possibility is that Lucid starts adjusting the high residuals we have on these leases to try to keep those Airs in the hands of current customers who are loving their cars, like I am, but who may not be ready to order the highest-end Gravity. The residual on my Air Touring is $80k and will have 11,200 miles at lease end, which seems high given recent used Air sales.

 

[Tym]

I’d say lease extension is 100% possible near end of term.

residual value is possible, but not guaranteed

 

[Batteryman]

I suppose it's possible that SOMEONE who got their 18 month bridge lease when it was first offered in September 2023 just might barely take delivery of a Gravity when the lease ends in February 2025, assuming their order is in, they want the highest spec Gravity, etc. It's partly a guess as to when volume deliveries (not just production samples) begin to customers.

But Lucid will still have some customers like me, who took this offer but for whom the desired Gravity may not yet even be orderable, much less delivered by the lease end.

The question was just about if they'll offer us an extension of the lease terms, maybe with a Gravity order/deposit, and say we can keep driving the Air until our Gravity is delivered, which was the intent of the program. Or if they'll just start taking back these low-mileage used Airs and put them into the used inventory to resell, which might well lower their important new car delivery numbers right now. There's a financial implication to the company too, if they start taking back these Airs, since the residuals on these is higher than their market value today given the price drops they've put in place since these leases were offered.

Another possibility is that Lucid starts adjusting the high residuals we have on these leases to try to keep those Airs in the hands of current customers who are loving their cars, like I am, but who may not be ready to order the highest-end Gravity. The residual on my Air Touring is $80k and will have 11,200 miles at lease end, which seems high given recent used Air sales.

They will probably extend lease if you are commited to buying the gravity. Perhaps take a 5k non-refundable deposit for the Gravity to extend lease.

 

[Andretex]

Lucid exec told me Gravity will only be delivered Q1 2025. Q4 will be production only.