The electric car Lucid Air was supposed to be in Denmark. But so far it is only being driven around with a dealer in Norway. Conversely, the owners are suffering huge losses in value.
The Lucid Air from the American manufacturer Lucid has experienced a dramatic loss in value on the Norwegian market. In just one year, the price of a used Air Dream Edition Performance has dropped by over one million Norwegian kroner.
When Lucid launched the Air in Norway last year, the Dream Edition Performance was the top model with a price tag of 2.2 million kroner. Today, that model has been removed from Lucid's website and replaced by the even more powerful Air Sapphire, which starts at 2,770,000 kroner.
The price drop on the used market reflects a number of challenges Lucid has faced in Norway. The introduction of road tax and VAT on electric cars over 500,000 Norwegian kroner from January 1, 2023 has had a significant impact on the price of the Lucid Air.
This is reported by Norwegian TV2 .
In addition, the past year's interest rate increases, increased electricity prices and high inflation have created a less than stellar economic foundation for the car brand in the paradise of electric cars.
In other words, Lucid's start in Norway has been marked by headwinds. Sales figures have been low, and so far this year, only six Lucid Airs have been registered in Norway.
Like other new automakers, including Fisker, Lucid has experienced challenges in its early stages of development. However, the company hopes that a new model will boost sales and improve Lucid's position in the market.
Next year, Lucid will launch the Gravity SUV, which will also come in a seven-seater version. The price for the Gravity in Norway has not yet been announced, but in the United States it starts at $82,000, which corresponds to approximately 588,000 Danish kroner.
It will be interesting to see if Gravity can turn the tide for Lucid in Norway and help restore confidence in the brand after the massive loss in value of Air.
Lucid hopes that the SUV will appeal to a wider audience, which will be reflected in the bottom line. But for now, Lucid has to face the fact that the Air has hit a wall in Norway.
