Summary
- Some used Lucid Air electric vehicles are selling for less than half of their original sticker price, despite being only one or two years old with low mileage
- The cheapest used Lucid Air is listed for just under $50,000, while higher priced models have depreciated substantially, with one model selling for $86,500 less than its original price
- Various Lucid Air models have seen significant depreciation on the used car market, with some models selling for around $60,000
- The selling price of used Lucid Air models on Bring a Trailer has shown a clear trend of depreciation over time
- It is possible to purchase a nearly brand-new Lucid Air directly from the company for around $61,998, with newer model-year inventory starting at roughly $72,000 for the base trim and over $120,000 for the Grand Touring trim
Article
Lucid Air Depreciation Woes
The Lucid Air, known for its impressive range of up to 512 miles and hefty price tag of over $120,000, is facing significant depreciation on the used car market. This luxury electric vehicle, just one or two years old with low mileage, is selling for less than half of its original price. Some models, like the 2023 Pure, have dropped from $70,000 to just under $50,000 in a span of two years, showcasing a steep decline in value. Higher-end models, such as the 2022 Air Grand Touring, have experienced an even greater drop in price, with one selling for $86,500 less than its original price of $155,000.
The Lucid Air Bargain Hunt
For those looking to purchase a Lucid Air at a substantial discount, the used car market offers some irresistible deals. Cars.com lists several Lucid Airs priced below $60,000, including a 2022 Air Grand Touring that sold for just over $60,000 despite a retail price of $141,000. Even the top-tier 2022 Lucid Air Dream Edition Performance, with a retail price of over $170,000, was sold for $100,000 on Bring a Trailer. The sharp decline in price across various Lucid Air models is evident in the selling prices on used car platforms, reflecting the challenges faced by owners looking to sell their luxury EVs.
Market Trends and Insights
Tracking the selling prices of Lucid Airs on platforms like Bring a Trailer provides valuable insights into market trends. While some units may not have sold due to reserve prices not being met, the overall trend indicates a significant drop in value over time. The range of prices at which these luxury electric vehicles are being sold underscores the impact of depreciation on the secondary market. From an initial listing price of nearly $200,000 to recent sales under $60,000, the resale value of Lucid Airs has taken a hit in a relatively short period.
Opportunities for Buyers
Despite the depreciation woes faced by Lucid Air owners, potential buyers can seize the opportunity to acquire a nearly new model at a fraction of the original cost. Lucid Motors itself is offering a 2023 Pure demonstrator with just 524 miles for sale on its website at $61,998. For those in the market for a brand-new Lucid Air, the 2025 model-year inventory starts from around $72,000 for the Pure trim and over $120,000 for the Grand Touring. The substantial price difference between new and slightly used models makes purchasing a Lucid Air an attractive option for savvy buyers.
Navigating the Lucid Air Resale Market
As the Lucid Air resale market continues to reflect depreciation trends, it is crucial for both sellers and buyers to understand the dynamics at play. Sellers may need to adjust their expectations regarding pricing, considering the significant drop in value that these luxury EVs experience within a short timeframe. On the other hand, buyers can capitalize on the opportunity to acquire a high-end electric vehicle at a discounted price, with options ranging from low-mileage models to nearly brand-new demonstrators offered by the manufacturer.
Final Thoughts
The story of Lucid Air depreciation highlights the challenges and opportunities present in the used car market, particularly for luxury electric vehicles. While owners may face disappointment with the sharp decline in resale value, potential buyers stand to benefit from the affordability and value proposition of purchasing a slightly used or demonstrator model. By staying informed about market trends and pricing data, both sellers and buyers can make informed decisions when navigating the Lucid Air resale market.
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