With inflation and the job market being as challenging as it is today, it shouldn’t come as a surprise that some companies selling high-end products are having difficulty appealing to broad swaths of the American public. Lucid is one such company, and the automaker is coping with a slide in demand by offering less expensive versions of its vaunted – but very pricey – Air sedan.
The new Air starts at under $79,000, a far cry from the massive six-figure prices seen on some of its models, and $5,000 cheaper than the previously least expensive Lucid. Despite that surprising price cut, the car still delivers impressive specs. Lucid promises 410 miles of range from the EV, and it still gets a top-notch interior with a massive screen and luxury features. Of course, buyers can still add to that price with a $2,000 driver assistance package, an almost $3,000 stereo, and a $3,000 leather upholstery package.
Lucid’s third-quarter sales are nearly triple what they were in late 2022, but company leadership still cut production estimates for the year. The automaker’s stock has also tumbled and is down by around two-thirds over the last year.
Though some of Tesla’s models are much cheaper than Lucid’s, it’s also cutting prices to drum up demand. It cut pricing on the Model 3 by more than $1,000, and the company recently reintroduced the entry-level Model Y, which is significantly cheaper than the other variants.
[Image: Lucid]
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from TheTruthAboutCars https://www.thetruthaboutcars.com/cars/news-blog/lucid-debuts-cheaper-air-sedan-to-boost-demand-in-late-2023-44503174?utm_medium=auto&utm_source=rss&utm_campaign=all_full
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