- One of the most luxurious and compelling EVs in the market is dealing with shocking depreciation.
- Lucid is partly to blame for cratering values after routinely cutting prices of the Air.
- It’s now possible to buy a brand-new Lucid Air Touring for less than $80,000.
The Lucid Air has been widely praised since its launch a few years ago, but like plenty of other EVs – and high-end luxury cars in general – it’s been hit hard by depreciation. Hunt around, and you can find a low-mileage Lucid Air for less than $60,000, and while it’s likely to continue to fall in value, that makes it quite a tempting buy.
Over the past year or so, the crew over at Cars & Bids have sold several 2022 and 2023 Lucid Airs between $50,000 and $60,000. Most of these are the mid-range Touring models which originally left the factory with an MSRP of $107,400. In January, a 2023 Lucid Air Touring with just 14,200 miles under its belt traded hands for $50,501. That very same car was purchased on the auction site for $73,001 a year prior.
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What’s particularly shocking about the depreciation is it’s a well-equipped example with the $10,000 DreamDrive Pro package and an original MSRP of $130,550. In just a couple of years, its value has dropped by a staggering $80,049.
This isn’t the only cheap Lucid Air Touring to hit the market. In December, a Quantum Gray Metallic car with just 10,400 miles on the clock traded hands for $52,500. Again, that’s more than a 50% drop in its original value.
Head on over to AutoTrader and you can find other low-mileage Lucid Air Tourings listed up for sale for less than $60,000. Most of these have been driven less than 15,000 miles. At $50,000 – $60,000, the Lucid Air Touring is a lot of car for the money. It packs a pair of electric motors delivering an impressive 620 hp, fed by a 112 kWh battery pack and providing 425 miles (684 km) of range.
Luxurious EVs have been the victims of shocking depreciation in recent years, and we’ve seen the same thing happen to cars, including the Mercedes-Benz EQS, Porsche Taycan, and Audi e-tron GT. Lucid itself is also partly to blame for the horrible resale values of its cars as it has routinely cut prices of the Air, including the mid-range Touring model. In fact, it’s now possible to buy a brand new Touring from Lucid’s inventory for less than $80,000 after tax credits.
