Lucid Offers up to $11,900 Discount on Inventory Vehicles in Germany
Written by Cláudio Afonso | LinkedIn | X
Lucid Motors is offering German customers substantial discounts on its luxury electric vehicle, the Lucid Air, in an effort to boost sales in the country. Earlier this week, the company introduced a new leasing incentive offering a $3,750 Air Credit for new customers in the United States.
In the latest newsletter, the luxurious electric vehicle maker announced that buyers can receive up to €11,000 ($11,953) off on available models in Germany, combining a €5,000 credit for orders placed in June and an additional €6,000 credit for vehicles scheduled for June delivery.
This incentive comes as Lucid faces a challenging sales environment in Germany. According to data released by the German Federal Motor Transport Association (KBA) on Wednesday, Lucid sold only 13 units of its Lucid Air model in May, a significant drop from the 26 units sold in April.
Year-to-date, the company has sold a total of 50 vehicles in Germany, with only 11 units sold in the first quarter of the year.
Lucid’s current European operations span Germany, the Netherlands, Norway, and Switzerland. The company has recently partnered with the electric vehicle charging company Wallbox, offering the Wallbox Pulsar Max charger, which delivers up to 22kW of charging power.
This partnership aims to support Lucid’s customers in Germany, the Netherlands, Norway, and Switzerland with reliable home charging solutions.
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The new promotional offer also includes standard benefits such as two years (or 40,000 km) of free maintenance and the Wallbox Pulsar Max 22 kW home charging station.
Globally, Lucid delivered 1,967 vehicles in the first quarter, marking a nearly 40 percent increase compared to the same period last year. Over 500 of these vehicles were delivered to Saudi Arabia, as disclosed by CEO Peter Rawlinson during a recent earnings conference call.
According to a video posted on X, the company has started the shipping of the first Saudi Arabia-made Lucid Air luxurious sedans from its newly established manufacturing facility in King Abdullah Economic City (KAEC) in Rabigh.
The shipment includes 350 vehicles, marking a significant milestone for the electric vehicle (EV) maker as it expands its footprint in the Gulf region, according to a video posted on X.
This first shipment is destined for the United Arab Emirates and other Gulf countries, a user noted on X, highlighting the broader reach of Lucid’s innovative electric vehicles (EVs) in the region.
The company has announced on Tuesday the election of the former vice president at Intel Capital Lisa M. Lambert to its board of directors, effective immediately.
One of the world’s largest investment advisors, Vanguard Group, has increased its position in the luxurious manufacturer by 104 percent in the first quarter of the year, a recent form reveals.
Vanguard’s fund Small-Cap Growth Index Fund Investor Shares filed a new form last week where it disclosed holding 13,267,848 shares in Lucid. Based on the current stock price of $2.86, the stake is valued at $37.95 million.
Written by Cláudio Afonso | LinkedIn | X
