The discount will be applicable on the purchase of Lucid Air Touring and Grand Touring models in select configurations.
American luxury electric vehicle manufacturer Lucid Group announced on Thursday that buyers of certain variants of its Air model cars will be eligible for a $7,500 credit. The company’s move follows price cuts by rivals Tesla and Ford Motors, revving up the price war in the EV car segment.
“We think our customers still deserve a $7,500 credit for choosing an EV,” Lucid’s vice president of sales and service Zak Edson said. “With this limited time offer, we hope to get Lucid Air into the hands of even more customers so they can experience the best for themselves.”
Customers who will purchase Lucid Air Touring and Grand Touring, in select configurations, before March 31 will get the said discount. Moreover, the credit will be paid by the company as the cars are too pricey to qualify for the $7,500 federal tax credit; the price cap for the benefit of which stands at $55,000.
According to Lucid’s website, the price of Air Touring starts at $107,400 and the Air Grand Touring starts at $138,000. It is noteworthy that the company has listed 15 Grand Touring cars and seven Touring cars for immediate sale, a report by CNBC pointed out first; noting that the motivation behind the discount could be more about inventory clearance.
Last month, another American multinational automobile company Ford announced a price cut on its electric car Mustang Mach-E and said to significantly increase its production. The company is targeting 130,000 units of Mach-E this year, up from 78,000 in 2022, Ford’s chief Jim Farley said. Reportedly, the automobile maker is trimming prices of various Mach-E versions by up to 8%.
Before Ford and Lucid, Elon Musk-led Tesla trimmed the prices of its EVs by up to 20% globally in mid-January. According to Reuters, Tesla’s price cut for its best-selling Model 3 and Model Y crossover SUV were between 6% and 20%. The basic Model Y would cost $52,990 after the price cut, down from $65,990.