Lucid Owner Learns Costly $50,000 Depreciation Lesson
The depreciation of luxury electric vehicles is a significant concern for owners, as recently demonstrated by a Lucid Air Grand Touring. This premium electric sedan lost nearly $50,000 in value within a year, a stark lesson in EV resale dynamics and ownership costs.
Overview of the Lucid Air Grand Touring
The Lucid Air Grand Touring, originally priced at $124,950, is an advanced electric vehicle known for its design and engineering. Finished in Fathom Blue Metallic, it sits just below the high-performance Air Sapphire variant. The vehicle boasts impressive specifications, making it a strong contender in the luxury EV market.
Key Features and Options
- Base Price: $110,900
- Tahoe Extended Leather Package: $5,500
- DreamDrive Pro Driver Assistance: $2,500
- Massage and Ventilated Power Front Seats: $3,750
- Delivery Fee: $1,500
When combined with destination charges and options, the total manufacturer’s suggested retail price (MSRP) reached $124,950 before taxes.
Depreciation Realities
After being purchased in February of last year, the owner drove the vehicle for only 6,500 miles before listing it for sale. Despite being in pristine condition, the vehicle sold for $75,500. This resulted in a staggering loss of $49,450, excluding taxes and registration fees.
The Impact of Depreciation on Luxury EV Ownership
This situation highlights the rapid depreciation that luxury electric vehicles like the Lucid Air can experience. Potential buyers should be aware that even top-tier models are not immune to market realities.
For the buyer, the appeal lies in avoiding the initial drop in value. While the vehicle will continue to depreciate, much of the steep decline in value may have already occurred. Current listings suggest that similar models from 2022 are now available for around $50,000.
Performance and Features of the Lucid Air Grand Touring
The Lucid Air Grand Touring impresses with a dual electric motor setup generating 819 horsepower. It accelerates from 0 to 60 mph in approximately 3 seconds and offers an exceptional driving range of 512 miles. These features underscore its status as one of the most technologically advanced luxury sedans available today.
As the market for electric vehicles continues to evolve, understanding depreciation is crucial for prospective buyers. The experience of this Lucid owner serves as a reminder of the financial implications of owning a luxury EV.
