Lucid enters EV price wars with sedan price cut

Lucid has recently announced the price cut for its Air range of luxury sedan models for the upcoming holiday season amid slowing demand for electric vehicles.

High interest in electric vehicles is affecting the overall EV demand in the market and forcing car makers to strip price tags to maintain the deliveries.

Musk’s Tesla is leading the price tags and already reduced the prices of its models multiple times throughout this year. This new price war ranged EVs to an average of $50,683 in September, reveals a report by Cox Automotive showed.

Source – Lucid

Lucid slashed the price of its Air Touring model to $87,500 from $95,000. The higher model Grand Touring by $10,000 to o$115,600. The carmaker also declined in price for its all-wheel drive Air Pure to $74,900 from $82,400. Meanwhile, the price of its rear-wheel drive Air Pure remains unchanged.

Previously, Tesla slashed the prices of its Model S premium sedan to $74,990, which is close to competitor Lucid Air. The latest price cut on these Lucid sedan models will remain in effect until November 30, 2023.

(source)