Lucid tries to keep up with rivals with $7,500 worth of ‘EV credits’

by Lucid luxurious Air electric vehicles exceed the federal tax credit threshold, but the company is still offering what it calls an “EV credit.” Through March 31, buyers of certain configurations of the Lucid Air Touring and Air Grand Touring models will be able to save up to $7,500.

“We think our customers still deserve a $7,500 credit for choosing an electric vehicle,” said Zak Edson, the company’s vice president of sales and service. said in a statement. “With this limited-time offer, we hope to bring Lucid Air into the hands of even more customers so they can experience the best for themselves.”

Under Inflation Reduction Act, a $7,500 federal tax credit that applies to electric cars, sedans, and wagons priced under $55,000. SUV eligible if the sticker price is less than $80,000. All Lucid Air models exceed those limits, as the base Pure variant starts at $87,400. That model doesn’t qualify for so-called Lucid’s credit, though.

The Lucid Air Touring starts at $107,400 and the Grand Touring version starts at $138,000. While a $7,500 discount would always be welcome, it saves buyers less than seven percent. That’s far from what Tesla can effectively do Discount for 5-seat car Model Y Long Range almost a third from $65,990 with the help of tax credits (Tesla slightly price increase in the first day of this month). While Lucid is operating in a different market from its competitors selling more affordable electric vehicles, it appears the company is doing what it can to keep up with the tax credits it’s eligible for. .

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