this post was submitted on 16 Feb 2024
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[Dormant] Electric Vehicles

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Lucid Motors drops the price of its cheapest EV by more than $8,000 (techcrunch.com)
submitted 10 months ago by [email protected] to c/[email protected]
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Lucid Motors is lopping thousands of dollars off the price of its most affordable electric sedans as it looks to boost demand after a disappointing year of sales.

The rear-wheel drive version of the base model Lucid Air Pure will now start a $69,900, down from the previous price of $77,400. The more powerful Lucid Air Touring model — which offers all-wheel drive performance and roughly 50% more horsepower — will now start at $77,900, down from $85,900. (An all-wheel drive version of the Pure is being discontinued.)

Even the Lucid Air Grand Touring, which offers more than 500 miles of range, is getting a slight price haircut to $109,900, down from $110,900. Lucid announced it is additionally offering $1,000 toward the purchase of a home charging solution, and including free scheduled maintenance for two years or up to 24,000 miles, with every new purchase.

The price cuts come just a few weeks after Lucid announced it delivered just 6,001 cars across all of 2023. The company is scheduled to reveal its financial results for the year on February 21.

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[–] [email protected] 8 points 10 months ago

What a world we live in, where “most affordable” and $70,000 dollars can be used in the same sentence.

[–] [email protected] 3 points 10 months ago

They can afford to drop the price by 10% because they have a >50% profit margin.