- Lucid Group cut prices of its Air range of luxury sedans earlier this week for a limited time ahead of the holiday season, amid stiff competition and slowing demand for electric vehicles. High-interest rates have hit demand for EVs, and auto manufacturers, led by the world's most valuable automaker Tesla, have responded by cutting prices.
The EV price war has forced companies to prioritize sales over margins and has brought down the average price of EVs to $50,683 in September, a report by Cox Automotive showed. The Newark, California-based company also slashed the price of its all-wheel drive Air Pure to $74,900 from $82,400. The price of its latest offering, the rear-wheel drive Air Pure, remains unchanged at $77,400.Lucid had previously cut prices for its cars in August as the company burned through cash as it ramped up production in a tough economy.
Bryon Cassie was on a charter flight Thursday evening as the sun was settling low over snowy fields north of Winnipeg, when everything fell quiet — and not in a good way.First, the left engine cut out. "I've never been on a plane where that happens, but I know they can fly with only one. So everybody kind of took pictures and was joking about it," said Cassie, who was aboard the small Piper Navajo with six others, including the pilot.