Lucid has launched a new round of price cuts in Canada and the United States. With less than two months left to go in the year, the luxury electric vehicle (EV) maker is offering discounts of up to $13,400 to customers in Canada and up to $10,000 in the United States.
According to an update to the company’s website, Lucid is now offering an “Air Credit” on its Pure, Touring, and Grand Touring models.
In Canada the price of the Air Pure AWD has dropped from $109,900 down to $99,900, a discount of $10,000. The Air Touring has also seen a $10,000 price drop, down to $119,000, while the biggest discount of all goes to the Air Grand Touring model, which has dropped $13,400 to $156,500.
The price drops in the US are similar. The Pure AWD now starts at $74,900, down from $82,400 (-$7,500). The Air Touring has also dropped $7,500 to $87,500, and the Air Grand Touring has been discounted $10,000 to $115,600.
These price cuts follow a previous round of substantial discounts the company implemented in August. According to the details of the program shared by a company spokesperson with Drive Tesla, these discounts are only valid until November 30, 2023.
Lucid’s struggles in 2023 have been well documented. After originally targeting to build as many as 14,000 vehicles in 2023, the company revised its target to “more than 10,000.” After Q3 Lucid produced just 6,037 cars, leaving only a miracle to get them to their lowered target.
The struggles are also on the sales side. Through September Lucid sold 4,267 cars, leaving them with over 1,700 cars in inventory, adding to the 2,811 it had in inventory at the end of 2022.
We will find out how all of these price cuts have affected the company’s bottom line when Lucid reports its Q3 financials on November 7, 2023.