Lucid slashes prices for the Air lineup until the end of August

Lucid has slashed the prices of its entire Air lineup for the month of August, including the Pure, Touring and Grand Touring.

The slashes are even more aggressive than last month’s lease, and loan offers that we reported on July 17.

After a difficult Q2, Lucid has launched new lease and loan offers today on the Air.

Leases starting at $995/month for the Air Pure, or 0.99% APR on the Air Touring or Air Grand Touring.

Offers are good until July 31, 2023, and only available in the US.https://t.co/oXGaXKOuj6 pic.twitter.com/XdW0P3Ly2T

— Drive Tesla 🇨🇦 (@DriveTeslaca) July 17, 2023

The new offers will see discounts on purchases and leases through August 31.

Per the release, here are the latest deals, while supplies last:

• Air Pure drops by $5,000 to $82,400 from $87,400
• Touring and Grand Touring versions by $12,400 to $95,000 and $125,600

Lucid is also offering 4.99 per cent APR financing for up to 72 months for those looking to purchase.

The price cut seems to be a reaction to Tesla and Ford slashing EV pricing. However, Ford and Tesla made the cuts to meet the US federal EV tax credit cap, but Lucid’s vehicles are still well above the cost cap to qualify. So, it looks like this was cut for optics and to stay competitive in the space.

Now we should flag these price slashes are only in the United States. There is no word on if Canada will get similar discounts this month, but we have not seen any price changes yet.

In terms of purchasing, this might be the best price we see a Lucid for a while. Depending on the model, the slashes have dropped overall prices between $7,000 and $20,000.  So the question is, will these price cuts make up for a poor Q2 from Lucid?