Lucid Motors makes some incredibly compelling EVs. With record-breaking acceleration and range figures, the Lucid Air’s engineering captivates many. But the firm has seen a decline in both production and sales recently.
In Q4 2022, Lucid saw its most voluminous quarter ever, with 3,493 units produced. However, ever since, Lucid hasn’t yet matched that figure. In the first quarter of 2023, Lucid built 2,314 luxury sedans (34% decline from Q4 2022), and in the second quarter of the same year, Lucid produced 2,173 units (38% decline from Q4 2022).
To combat this, Lucid has been offering more substantial deals for buyers, including lower-interest loans as well as lease specials. During Lucid’s Summer Event, the firm is offering the Air Pure AWD for $995 a month for 36 months with $7,945 down. But Lucid’s deals aren’t limited to the United States.
For Saudi Arabia, the country where Lucid will begin constructing its new manufacturing facility, there are new ways to try out one of its electric sedans. Per initiatives from the Kingdom of Saudi Arabia’s National Strategy for Transport, there is an increased emphasis on car-sharing programs.
Theeb Rent-A-Car is an early adopter of this initiative, taking delivery of 10 Lucid Airs to add to its rental fleet. Offering a vehicle like the Air as a rental car is a good business decision for both the manufacturer and the rental company.
Theeb Rent-A-Car produced a video on YouTube showcasing its new offering. The video depicted passersby taking photos of the Air and sharing them on social media. With an elegant design, the Air generates lots of attention on the road, and that alone is a great marketing tool for the manufacturer.
Along with getting more consumers to choose an Air as their next car, Lucid still needs to increase its production capacity. With another plant based in the Middle East and increased efforts to get drivers into Lucids, the EV firm has the chance to make up for lost ground from its previous two quarters.
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