Luxury cars

Lucid Air range

Lucid Air range

Lucid Air range

Lucid Air range Lucid Group said Thursday that customers will receive a $7,500 credit to buy certain variants of the Air luxury electric car , joining a price war started by market leader Tesla.

The struggle has made it much harder for money-losing US startups like Rivian and Lucid to gain market share at a time when high borrowing costs and inflation have squeezed consumer wallets.

Ford has also cut prices on its Mustang Mach-E electric crossover by as much as $5,900 in response to Tesla’s price cuts Lucid Air range.

Lucid’s credit will be available to customers starting Thursday. This applies to the Touring and Grand Touring models in the Air series purchased before March 31 this year.

Lucid Air range

The company’s cars are not eligible for a $7,500 federal tax credit under the Inflation Reduction Act passed last August because it exceeds the benefit’s $55,000 price cap. The Air Touring retails from $107,400, while the Grand Touring model starts at $138,000 Lucid Air range.

”We feel our customers still deserve a $7,500 credit for choosing an EV,” said Zak Edson, Lucid’s Vice President of Sales and Service.

Lucid said in November it had more than 34,000 orders in the third quarter, down 3,000 from the second quarter, after it delivered about 1,400 vehicles and saw cancellations Lucid Air range.

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