Lucid Motors has dropped pricing and financing options for its Lucid Air models. As part of the Pure Summer Event for August, the electric vehicle manufacturer has announced some price reductions across its range, ahead of its upcoming earnings release on Monday, August 7, 2023.
The Lucid Air Pure AWD, originally priced at $87,000, has been marked down to $82,400 USD. This model also comes with a 4.99% APR financing option for up to 72 months. Alternatively, customers can choose to lease this model for $749 per month for 36 months with $7,699 due at lease signing. The featured lease model, which includes the destination price, is set at $83,900.
The Lucid Air Touring model has also seen a price drop from $108,000 to $95,000 USD. The same 4.99% APR financing option for up to 72 months is available for this model. As for the leasing option, it is offered at $1,149 per month for a 36-month term, with $9,814 due at lease signing. The featured lease model price, including destination, is $112,400.
The Pure Summer Event is heating up. Experience special buy or lease offers on available 2023 #LucidAir models through August 31.
— Lucid Motors (@LucidMotors) August 5, 2023
Lastly, the premium Lucid Air Grand Touring model, previously listed at $154,000 USD, is now available for $125,600. It also comes with a 4.99% APR financing option for up to 72 months. Those interested in leasing can acquire this model at $1,399 per month for a 36-month term, with $10,899 due at lease signing. The featured lease model price for this model, including destination, is set at $140,500.
Last month, Lucid announced it had delivered just 1,404 units of its Air sedan in Q2 of 2023, which disappointed Wall Street. Lucid also cut back about 18% of its workforce, equivalent to approximately 1,300 workers, in March.
Lucid Motors, in its Q1 financial disclosure published on May 8, projected the production of more than 10,000 vehicles for the year 2023. The electric vehicle company assured its stakeholders that it holds ample liquidity to ensure the smooth running of its operations through at least the second quarter of 2024, thanks to a recent capital raise of $3 billion in late May.
[via @SawyerMerritt]
