Lucid Motors, the American automaker that came out of nowhere in 2022, is struggling. In 2023, the company only sold 6,001 cars, which is not a lot.
There are a few reasons for the company’s decline. First, Lucid Motors only has one model, the Air sedan. Second, the prices are high. The Air starts at $100,000, which is out of reach for many consumers.
To try to boost sales, Lucid Motors cut the price of the Air twice in 2023. However, this did not have the desired effect.
The company is now pinning its hopes on its new SUV, the Gravity, to turn things around. However, it will not be available until the end of 2024.
As a result, Lucid Motors is in a difficult situation. It is losing money on every car sold, and it does not have a model to replace the Air.
The company needs to find a solution quickly, or it could go under.
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