Lucid is offering discounts

A lot of customers who put orders on Lucid EVs are walking away due to delays in production annnnd changes in the market. And to try and save some of those orders & ultimately themselves, Lucid Motors is offering some pretty good discounts right now. Yes – discounts. I almost thought the automotive industry forgot what that word meant.

Lucid is reinstating legacy pricing…

Which is essentially a 10% discount off current prices. When you’re talking about a $150,000 EV… that’s a good chunk. Also – they are offering low 2.8% financing if you’re willing to take a car that’s already in inventory. Ummm ok! Additionally, Lucid is offering some pretty sweet incentives for their own employees.

But here’s the thing, with a changing market…

The demand for EVs is going to change. And also – the demand for THE KIND of EVs people want is going to change. They need to get smaller & more accessible. See – Lucid has slick designs. But EVs quickly soared to a high-end fashion statement. Because in order to make influency Americans actually want one, they had to make ‘em flashy, sexy, and fashionable. Meaning… EVs quickly got ‘Americanized’ and lost their original purpose/intent.

‘Going big’ on an EV is the polar opposite of what an EV should be in concept.

It’s not green when you’re digging up the earth to produce a 2,000lb battery that powers just one $100,000+ car… so we can kind X that off the list for now. If these high-end customers actually wanted to be green, they’d buy a super low-emission Honda Fit or Toyota Corolla that’s already been produced… and they’d rock it for the next 2 decades. Or hell – even a simple hybrid, which stretches that same 2,000lbs of battery over multiple cars. But then – those customers would never get noticed or acknowledged for their enlightenment. So that doesn’t work for them.

But back to the point…

All these $100,000 luxury EVs are flashy. But at the end of the day, how many people can, and really want to buy them. Pop-up and legacy car makers are now realizing that there is a real difference between deposits/orders… and ACTUAL real finalized car purchases. Through the Covid era, people were putting orders & deposits on multiple EVs, just to play the game & see how it all shook out. There was never any intention to buy ALL of them. They were just essentially adding them all to their basket. The automotive companies (and their investors) put too much stock in these online projections… and committed to build cars for a fantasy market that didn’t truly exist. Now they have to readapt.