Over the last year, we’ve seen many vehicles increase in price as manufacturers try to squeeze all the profit they can out of the vehicles they can build. As the chip shortage lingers, vehicles of all sorts are in short supply. Anyone who has had their eye on a Lucid Air electric vehicle may regret not pulling the trigger earlier.
Lucid announced last week that it was increasing the price of the Air sedan starting on June 1. Anyone who already has a reservation for the Air will get to purchase the vehicle at the previous price. However, pricing is going up significantly, with the Air Grand Touring seeing a price increase of $15,000.
The Air Touring will see a price increase of $12,400, and the Pure will see its price go up by $10,000. The only version of the Air keeping current pricing is the Performance model, which sells for $179,000. As it stands with the new pricing, the cheapest version of the Lucid Air is the Pure, selling for $87,400.
Impact of the Chip Shortage on the Automotive Industry
The ongoing global chip shortage has had a profound impact on the automotive industry. Modern vehicles rely heavily on semiconductor chips for everything from engine management systems to infotainment and advanced driver-assistance systems (ADAS). The shortage has forced many manufacturers to halt production lines, delay new model launches, and prioritize higher-margin vehicles. This scarcity has driven up prices across the board, not just for electric vehicles like the Lucid Air but for traditional internal combustion engine vehicles as well.
For instance, Ford and General Motors have both reported significant production cuts due to the chip shortage. This has led to a domino effect where the reduced supply of new vehicles has increased demand for used cars, driving up their prices as well. The situation has created a challenging environment for consumers looking to purchase a new vehicle, as they face higher prices and limited availability.
Lucid Air: A Premium Electric Vehicle
The Lucid Air has been making waves in the electric vehicle market due to its impressive range, luxurious features, and cutting-edge technology. The Air Grand Touring, for example, offers an astounding range of over 500 miles on a single charge, making it one of the longest-range electric vehicles available. This model also boasts a 0-60 mph time of just 3.0 seconds, showcasing its high-performance capabilities.
The Air Touring, while slightly less powerful, still offers a commendable range of around 406 miles and a 0-60 mph time of 3.2 seconds. The Pure model, which is the most affordable option, provides a range of approximately 406 miles and a 0-60 mph time of 4.2 seconds. These specifications make the Lucid Air a strong competitor to other high-end electric vehicles like the Tesla Model S and the Porsche Taycan.
Lucid Motors has also focused on creating a luxurious interior experience. The Air features a spacious cabin with high-quality materials, a 34-inch curved Glass Cockpit 5K display, and advanced driver-assistance systems. The vehicle’s design emphasizes both comfort and functionality, making it an attractive option for those looking to transition to electric vehicles without compromising on luxury.
Future Prospects and Challenges
While the price increases may deter some potential buyers, Lucid Motors remains optimistic about the future. The company has plans to expand its production capacity and introduce new models, including an SUV called the Lucid Gravity. Additionally, Lucid is investing in its own battery technology to reduce dependency on external suppliers and mitigate the impact of future supply chain disruptions.
However, the company faces several challenges. Competition in the electric vehicle market is intensifying, with established automakers and new entrants alike vying for market share. Regulatory changes and government incentives for electric vehicles will also play a crucial role in shaping the industry’s future. Lucid will need to navigate these complexities while continuing to innovate and deliver high-quality products to maintain its competitive edge.
The price increases for the Lucid Air reflect broader trends in the automotive industry driven by supply chain disruptions and increased demand for electric vehicles. While these changes may pose challenges for consumers, they also highlight the growing importance and appeal of electric vehicles in today’s market.
Latest Geeky Gadgets Deals
Disclosure: Some of our articles include affiliate links. If you buy something through one of these links, Geeky Gadgets may earn an affiliate commission. Learn about our Disclosure Policy.
