{"id":45350,"date":"2023-08-07T07:17:39","date_gmt":"2023-08-07T11:17:39","guid":{"rendered":"https:\/\/ifintechworld.com\/markets\/lucid-cuts-prices-on-ev-models-following-in-teslas-footsteps\/"},"modified":"2023-08-07T07:17:42","modified_gmt":"2023-08-07T11:17:42","slug":"lucid-cuts-prices-on-ev-models-following-in-teslas-footsteps","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=45350","title":{"rendered":"Lucid Cuts Prices on EV Models, Following in Tesla\u2019s Footsteps"},"content":{"rendered":"<div id=\"js-article__body\" itemprop=\"articleBody\" data-sbid=\"WP-BAR-0000713070\">\n<div data-layout=\"wrap\n              \" data-layout-mobile=\"\" class=\"\n        media-object\n        type-InsetMediaIllustration\n          wrap\n  article__inset\n        article__inset--type-InsetMediaIllustration\n          article__inset--wrap\n    article__inset--lead\n  \"><\/p>\n<figure class=\"\n        media-object-image\n        enlarge-image\n        img-wrap\n        article__inset__image\n      \" itemscope=\"\" itemtype=\"http:\/\/schema.org\/ImageObject\"><\/p>\n<\/figure><\/div>\n<p>\n        Lucid Group<br \/>\n       has lowered the prices of its Air luxury sedans. The electric-vehicle maker\u2019s move could sharpen its challenge to industry leader<br \/>\n        Tesla<br \/>\n       in the high-end EV segment.\u00a0<\/p>\n<p>\n        Lucid<br \/>\n       (ticker: LCID) reduced the price of its Air Pure to $82,400 and cut prices of the Touring and Grand Touring versions to $95,000 and $125,600, respectively. The deal will last so long as supplies last,<br \/>\n        Lucid<br \/>\n       said.\u00a0<em>Barron\u2019s<\/em> asked Lucid for additional comment but didn\u2019t receive an immediate response.<\/p>\n<div class=\"paywall\">\n<p>The Pure model previously started at about $87,000, the Touring model at about $107,000, and the Grand Touring Air sedan at about $138,000.\u00a0<\/p>\n<p>\n        Tesla<br \/>\n       (TSLA) cut prices on its own most expensive models\u2014the Model S and Model X SUV\u2014earlier this year. The Model S luxury sedan currently starts at $88,490, according to Tesla\u2019s website.\u00a0<\/p>\n<p>Lucid shares were up 0.2% in premarket trading Monday at $6.63. The stock has fallen 63% over the last 12 months.\u00a0<\/p>\n<p>Lucid is a tiny EV producer compared with Tesla, delivering just 1,404 vehicles in the second quarter, less than analysts had expected. However, with the backing of Saudi Arabia\u2019s Public Investment Fund\u2014its majority owner\u2014Lucid is planning to introduce more affordable vehicles and directly challenge Tesla in different parts of the market.<\/p>\n<p>Lucid is scheduled to report second-quarter earnings after the closing bell Monday.<\/p>\n<p>Write to Adam Clark at adam.clark@barrons.com<\/p>\n<\/p><\/div>\n<\/div>\n<p>Read the full article <a href=\"https:\/\/www.marketwatch.com\/articles\/lucid-cuts-electric-vehicle-prices-tesla-47e9945b?mod=markets\" target=\"_blank\" rel=\"noopener\">here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Lucid Group has lowered the prices of its Air luxury sedans. The electric-vehicle maker\u2019s move could sharpen its challenge to industry leader Tesla in the high-end EV segment.\u00a0 Lucid (ticker: LCID) reduced the price of its Air Pure to $82,400 and cut prices of the Touring and Grand Touring versions to $95,000 and $125,600, respectively. [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":45351,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"gallery","meta":{"footnotes":""},"categories":[241],"tags":[83],"class_list":["post-45350","post","type-post","status-publish","format-gallery","has-post-thumbnail","hentry","category-markets","tag-featured","post_format-post-format-gallery"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v20.6 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Lucid Cuts Prices on EV Models, Following in Tesla\u2019s Footsteps | iFintechWorld<\/title>\n<meta name=\"description\" content=\"Lucid Group has lowered the prices of its Air luxury sedans. 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