Lucid chief executive Peter Rawlinson has revealed that recent price cuts have boosted interest in the carmaker’s all-electric Air sedan and that the long-awaited Gravity SUV will be unveiled in November.
The company brought a fleet of Airs to Monterey Car Week in California and was offering rides to clients, VIPs, and other attendees. While speaking with Yahoo Finance at the Pebble Beach Concours d’Elegance, Peter Rawlinson acknowledged that inflationary pressures had forced it to increase prices last year but that it has since reverted back to its original pricing structure.
“We hit some really inflationary challenges particularly in batteries as we got into the summer of ‘22. [So] we had to take a price action accordingly,” Rawlinson said. “But I’m delighted to say we’re back to our original pricing structure, and that’s been so well received by customers [and] the market alike.”
Read: 2024 Lucid Gravity SUV Is Now Testing On Public American Roads
Rawlinson said the cuts had led to an increase in sales and interest in the Air but noted specific sales figures would not be released until its Q3 earnings call. Price cuts introduced by Lucid earlier this month saw the starting price of the entry-level Pure slashed from $87,400 to $82,400 while prices for the Air Touring and Air Grand Touring have both been reduced by $12,400. While the Air is not eligible for the $7,500 federal EV tax credit, shoppers can get a $7,500 credit if they lease the car.
Speaking of the upcoming Lucid Gravity, Rawlinson revealed that the car manufacturer is currently testing around 30 prototypes and that the dynamics of the SUV “are really exciting.” He added that it will be revealed in November but it is not yet known when customers will take delivery. Prices for the Gravity also remain a mystery but it will likely cost over $100,000 and may have a range exceeding 400 miles (644 km).
