at the Pebble Beach Concours d’Elegance, Peter Rawlinson acknowledged that inflationary pressures had forced it to increase prices last year but that it has since reverted back to its original pricing structure.
“We hit some really inflationary challenges particularly in batteries as we got into the summer of ‘22. [So] we had to take a price action accordingly,” Rawlinson said. “But I’m delighted to say we’re back to our original pricing structure, and that’s been so well received by customers [and] the market alike.”Rawlinson said the cuts had led to an increase in sales and interest in the Air but noted specific sales figures would not be released until its Q3 earnings call.
Speaking of the upcoming Lucid Gravity, Rawlinson revealed that the car manufacturer is currently testing around 30 prototypes and that the dynamics of the SUV “are really exciting.” He added that it will be revealed in November but it is not yet known when customers will take delivery. Prices for the Gravity also remain a mystery but it will likely cost over $100,000 and may have a range exceeding 400 miles .
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