FYI: Lucid Air Faces Massive Depreciation in the Used EV Market
The Lucid Air, known for holding the title as the longest-range electric vehicle available in the United States with a staggering 512 miles on a full charge, presents a perplexing scenario for owners planning a resale. Despite its impressive technology and luxurious build, the 2025 Air Grand Touring model, which retails for over $120,000, has experienced significant depreciation. This has particularly impacted slightly older models.
Lucid Air’s Plummeting Resale Value
Owning a Lucid Air in today’s market can be a double-edged sword. Buyers who purchased these electric marvels for prices exceeding $100,000 are finding that the resale market isn’t as kind. Prices have taken a nosedive, with some used models selling for less than half their original sticker price, even with minimal wear and tear.
Drastic Depreciation in High-End Models
The depreciation impact is particularly evident in the higher-priced Lucid Air models. A noteworthy example is a 2022 Air Grand Touring which originally retailed for $155,000. This vehicle, which boasted features like a 112-kWh battery and the advanced DreamDrive Pro driver assistance suite, recently sold for just $68,500. That’s a jaw-dropping $86,500 reduction in value despite only 13,000 miles on its odometer.
Affordable Lucid Air Offers on the Market
For those scouting for a Lucid Air at a bargain, the used market currently offers some compelling deals:
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2023 Lucid Air Pure Model: Listed on Cars.com for just under $50,000, this model with less than 25,000 miles, dual-motor all-wheel drive, and a 92-kWh battery packs an EPA range rating of 410 miles. Comparatively, a brand-new 2025 Lucid Air Pure starts at $70,000, marking a $20,000 drop in two years.
- Few Miles, Significant Savings: A 2022 Air Grand Touring with just 5,000 miles, initially priced at $141,000, sold for $61,111 in July. This model also includes a big battery, range capability over 450 miles, adaptive air suspension, and a luxurious interior, highlighting a depreciation rate of approximately $16 per mile driven.
Lucid Air Prices on Bring a Trailer
Bring a Trailer (BaT) has become a significant platform showcasing the depreciation trend. The selling price evolution on BaT tells a compelling story:
- A top-tier 2022 Lucid Air Dream Edition Performance with 20,000 miles originally retailed over $170,000 but was sold for exactly $100,000 earlier this year.
- Interestingly, the first Air sold on BaT nearly hit the $200,000 mark, whereas recent listings have plunged below $60,000.
Buying Nearly-New from Lucid
Lucid Motors itself offers nearly brand-new models at attractive prices. For example, a 2023 model-year Pure demonstrator with just 524 miles is listed at $61,998. This vehicle includes a dual-motor, all-wheel drive powertrain, 19-inch aero wheels, and an EPA range estimate of 410 miles. In contrast, new 2025 Air trims start from around $72,000, with Grand Touring variants exceeding $120,000.
Summary
The Lucid Air’s rapid depreciation presents a paradox for EV enthusiasts and current owners alike. It underscores the evolving nature of the luxury EV market and poses questions about future resale values as new models and technologies emerge.
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William Kouch, Editor of Automotive.fyi
