American electric automaker Lucid Group has announced a price reduction on its Air luxury sedans through a $7,500 discount via an email to reservation holders, per the online community Lucid Forum. However, the discount will only be applicable if a customer leases the Air through Lucid Financial Services.
Interestingly, it occurred after Tesla waged a price war in some major auto markets globally.
$7,500 discount
Lucid Forum member under the username evonthego disclosed the email he received from Lucid, which offers a $7,500 discount on any Air model leased through Lucid Financial Services.
“Save $7,500 immediately. Accelerate instantaneously.
Starting now, customers who lease any Lucid Air through Lucid Financial Services¹ will receive an automatic $7,500 savings in the form of a capital cost reduction.²
By taking advantage of this savings, customers get a lower monthly payment for their new Lucid Air. As always, we’re thrilled to be dreaming ahead with you.”
Lucid Group
As indicated in the email, customers’ monthly payments would be reduced because Lucid would provide the discount in a capital cost reduction.
With this significant discount, Lucid Air Grand Touring’s price would be reduced to as low as $131,500. Meanwhile, the base model Air Pure would cost $119,400 if it ever qualifies.
Notably, the $7,500 discount is equivalent to the new IRA tax credit many Tesla cars receive. It is possible that the leasing company can use this discount and provide the customer the savings.
It is not surprising that Lucid would engage in the price war triggered by Tesla, given its effort to secure orders at the end of last year. The discount should encourage more reservations to become orders for Lucid.
