Tesla Price Decrease

[HC_79]

Does anyone think Lucid is overpriced now that Tesla has dropped the price of its vehicles?

 

[Drendino]

I personally think Lucid should go all out on the customer service front and be the leading manufacturer with white glove service.
At this price point, if Lucid can become the equivalent of the Ritz, they will sell more cars than they can make,
Don't nickel and dime the guys with the broken charge port door. Don't let the bean counters decide charging $10 a month for connectivity.
These are small change for the big picture.

To give credit where credit is due, it looks like they have fixed the loaner car program. My pop received a M3 today and was told by Hertz that the policy is to provide Lucid owners with an EV.

 

[xponents]

So I could upgrade my Pure reservation to Touring and get legacy Touring pricing, the $7500 Lucid credit (ie discount) and the $7500 federal credit?

We dont know about the federal credit, but you will get the other 2.

 

[Paco]

I have owned 4 Tesla, I was considering updating my wife’s Model X with the latest Model S, but their customer service was horrible, did I forget to say Horrible. The service center customer service, horrible.

They schedule for maintenance, don’t give you a loner, when you spent 100k on a vehicle, you scheduled an appointment for service, they take away your vehicle, and don’t even work on it, for a week, but they give you Uber credits, WTF.

Purchase and delivered, is horrible, in Orlando they are delivering on a mall parking lot, out of a beach tent. really. Out in the heat and rain. They are washing the cars, buffing, ect… out in a parking lot. Is embarrassing, looked like a sleazy used car dealership. And trade on current Tesla owners is a joke and insultin.

that been said, I am getting a Lucid.

 

[Tesla2.0]

I have owned 4 Tesla, I was considering updating my wife’s Model X with the latest Model S, but their customer service was horrible, did I forget to say Horrible. The service center customer service, horrible.

They schedule for maintenance, don’t give you a loner, when you spent 100k on a vehicle, you scheduled an appointment for service, they take away your vehicle, and don’t even work on it, for a week, but they give you Uber credits, WTF.

Purchase and delivered, is horrible, in Orlando they are delivering on a mall parking lot, out of a beach tent. really. Out in the heat and rain. They are washing the cars, buffing, ect… out in a parking lot. Is embarrassing, looked like a sleazy used car dealership. And trade on current Tesla owners is a joke and insultin.

that been said, I am getting a Lucid.

Welcome to land of concierge service and deserved to be treated better.

 

[ksn]

Tesla dropped price again for model s by 5k today. Even with a much better car , driving dynamics it will be tough for lucid to try and match Tesla in the price war game. Hopefully they can ramp up Pure production and get more cars out on the roads.

 

[Tesla2.0]

Tesla cuts US prices for fifth time since January

Tesla cut prices in the United States between 2% and nearly 6%, its website showed on Thursday, as the company extends a discount drive on its electric vehicles that analysts caution could hurt profitability.

www.reuters.com

Tesla’s 5th price cut this year today. Tesla is going war with all EV makers.

 

[NewEnglander]

Tesla cuts US prices for fifth time since January

Tesla cut prices in the United States between 2% and nearly 6%, its website showed on Thursday, as the company extends a discount drive on its electric vehicles that analysts caution could hurt profitability.

www.reuters.com

Tesla’s 5th price cut this year today. Tesla is going war with all EV makers.

It is likely US will have to rethink EV tax credit. Lucid losing Tax credit is a gut punch. Manchin has more or less killed EV companies. Tesla has margins because of efficiencies but others just don't. It's just better not to look at prices for the next 2-3 years and enjoy your cars. Car market is having its Housing 2009 moment. But as we all have seen, this too shall pass!

 

[joec]

Here we go again. Lucid cannot match Tesla’s prices on a decades-old car that sells tens of thousands more units and has been stripped down with a laser focus on cutting costs. It’s not possible.

Thankfully, Lucid seems to understand this and has not moved to try and compete on price.

 

[joec]

Tesla cuts US prices for fifth time since January

Tesla cut prices in the United States between 2% and nearly 6%, its website showed on Thursday, as the company extends a discount drive on its electric vehicles that analysts caution could hurt profitability.

www.reuters.com

Tesla’s 5th price cut this year today. Tesla is going war with all EV makers.

Yeah. But it’s not really working. They still missed their sales target last quarter and ended up with left over inventory.

 

[NewEnglander]

Yeah. But it’s not really working. They still missed their sales target last quarter and ended up with left over inventory.

Did any manufacturer meet their targets?

 

[joec]

Did any manufacturer meet their targets?

Probably not. Because the economy is in the toilet.

 

[NewEnglander]

Probably not. Because the economy is in the toilet.

Tesla's numbers would have been even more abysmal if they did not cut. And if they don't cut even further, which they just did, cars just won't move.

 

[Tesla2.0]

Just imagine anyone who just bought a Tesla Model X Plaid in Christmas, 14 weeks later drop 35k, who wouldn’t be pissed?!

 

[HariK]

I personally think that Tesla realized that their cars are over priced compared to the competition. Model S AWD is now priced below Pure AWD because they understand that
Pure AWD is better in every way. Pure RWD should compete well in its segment. The pricing of Model X AWD will dictate the starting price point of Gravity.

 

[Drendino]

Looks like Tesla is heading towards being the Toyota Camry of EVS. There is no question that the reductions have hurt Lucid, but at some point I think Tesla will put themselves into a box to where people who want a luxury car won’t even consider them. People who shop for BMWs don’t consider Camrys.

The best thing Lucid can do is to release more Dream Drive features to narrow the tech gap with Tesla. The more they can offer in tech, the more buyers they will attract. CarPlay was a great step in that direction. They need to keep going, and as fast as possible.

 

[Drendino]

Just imagine anyone who just bought a Tesla Model X Plaid in Christmas, 14 weeks later drop 35k, who wouldn’t be pissed?!

I have 2 friends in this exact position. It’s sad.

 

[Viking]

Here we go again. Lucid cannot match Tesla’s prices on a decades-old car that sells tens of thousands more units and has been stripped down with a laser focus on cutting costs. It’s not possible.

Thankfully, Lucid seems to understand this and has not moved to try and compete on price.

Lucid is in a tough spot. Perhaps they can ride it out for a while, but price is certainly a big consideration in people's buying decision. Lucid will need to be competitive. Putting their head in the sand is not a good answer.

 

[HariK]

Looks like Tesla is heading towards being the Toyota Camry of EVS. There is no question that the reductions have hurt Lucid, but at some point I think Tesla will put themselves into a box to where people who want a luxury car won’t even consider them. People who shop for BMWs don’t consider Camrys.

The best thing Lucid can do is to release more Dream Drive features to narrow the tech gap with Tesla. The more they can offer in tech, the more buyers they will attract. CarPlay was a great step in that direction. They need to keep going, and as fast as possible.

Yes. DD can be basic ACC, HA, 360 deg camera vs DDp which can add more like Traffic Jam assist, Self Park, Summon, SSp directional alerts.

 

[Sandvinsd]

Looks like Tesla is heading towards being the Toyota Camry of EVS. There is no question that the reductions have hurt Lucid, but at some point I think Tesla will put themselves into a box to where people who want a luxury car won’t even consider them. People who shop for BMWs don’t consider Camrys.

Tesla is already the “California Camry” out here in San Diego. It is ubiquitous. Most people I talk to want something different already as the Tesla is way too common. I did see another rare Lucid in the wild yesterday! It was my GT’s twin parked out at Torrey Pines. Saw it while we were walking.

 

[thecodingart]

I was actually going to ask this question as well but then found this thread. I think give Current economics it warrants most auto manufacturers to reduce prices. I think just my opinion Lucid gt will at least drop from 154k to 139k pre price raise and same for all other models.

I wouldn't be opposed to Lucid dropping the prices to what they had during the earlier reservations. They did do a single price raise which I do think was not in the best taste. With that being said, they should be fighting hand and foot for the tax incentives at some model level. I'm more concerned about that over a general price war. Tesla and Lucid aren't playing the same ball game, nor is Mercedes/BMW/etc versus Tesla.

To be blunt, Tesla is just an EV equivalent of a Corolla with good software. If you want to call a Corolla an actual high end model, be my guest.. but you're wrong. I do not expect high end brands to compete with "Corolla" price drops.

I do expect Lucid to solidify sustainable cash burn/flow. If that means introducing a cheaper more mainstream model, then that's what needs to happen. If that means more battery supplier contracts or partnerships, then that needs to happen. There's a lot of avenues a company could take here.