Raine Maida on marriage, music and the Maritimes | SaltWire - 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.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more: