Lucid Motors has announced it is reinstating “original pricing across the full Air lineup,” dropping the price of two of its vehicles below $100,000, according to a press release the company shared with The Verge. The new base prices will be $125,600 for the Air Grand Touring (down from $138,000), $95,000 for the Air Touring (down from $107,400), and $82,400 for the Air Pure (down from $87,400), but only “while supplies last.”
Lucid raised prices across the board in May last year as it struggled to push cars out of its factory and continued to lose money. But the company started reversing course with a December price cut for its Air Grand Touring, dropping it from $154,000 to $138,000 (that’s less than its $139,000 launch price).
Lucid then began offering a $7,500 credit on certain models in February after Tesla cut its prices. That same month, Lucid said it was getting production back on track after falling well short of its 2022 goal of making 20,000 vehicles.
The company tweeted the updated prices while highlighting its new leasing terms, which it says are good through the end of August:
Lucid’s director of press communications Andrew Hussey clarified in an email to The Verge that the new pricing only applies to the all-wheel drive version of the Air Pure. The rear-wheel drive version is currently listed as “available in September 2023” on Lucid’s website.
Update August 5th, 2023, 3:15PM ET: Updated with clarification from Lucid Motors.
Correction August 8th, 2023, 11:40AM ET: This article originally said the previous price for the Lucid Air Grand Touring was $154,000, and that this was the first price decrease since May of last year. In fact, Lucid Motors lowered the price of the Air Grand Touring to $138,000. That has been corrected. We regret the error.