Lucid Tax Credit Email
Lucid sent out the following today:
This past weekend, the Senate passed the Inflation Reduction Act, which eliminates the $7,500 tax credit for sedans with an MSRP over $55,000. This means that if the bill is enacted, Lucid Air will no longer qualify for this tax credit. The House is expected to vote on the bill this Friday, August 12.
Many of you have asked what we can do to help you maintain your eligibility for this tax credit.*
The current text of the bill includes a “transition rule,” which may maintain eligibility for Lucid customers who enter into a contract to purchase their Lucid Air before the bill is signed. We’ve decided to help reservation holders take advantage of the transition rule by opening a window to place an order for their Lucid Air. This window is now open, and will remain so until 12 a.m. the morning the bill is passed, which could be as soon as this Friday.
To be completely clear, you don’t have to place an order now and your reservation will remain in place — we’re doing this to help those who want to do everything possible to maintain eligibility for the federal tax credit. If you don’t wish to place an order now, you’ll still have the opportunity to do so closer to your vehicle’s production date. Please note that placing an order now will not alter the expected delivery timelines for Touring and Pure.
However, if you decide to place an order now, please understand you’ll be entering into a contract, and your deposit will become non-refundable.
To place your order, log into your Lucid account, go to your “Designs and Orders” tab, identify the relevant reservation and click the “Order” button. A pop-up window will appear where you can again click “Confirm this order” to complete the process.
@bayoubob Did you convert a reservation to an order? I took a test drive in a GT on Thursday and decided to convert my reservation for a touring into an order! The Lucid was extremely luxurious and the drive was amazing--- The drive "down" North Torrey Pines (La Jolla, CA) was reminiscent of me driving my SC400 down Torrey Pines 25 years ago.
@nofrunk I decided not to convert on the Lucid. Converted on the Rivian and the Ocean. Lucid is a beautiful car but we do not want another sedan right now. (Have been driving sedans more or less for past 20 years (other than a work pickup and a short stint in a Subaru). We are getting to the age where getting in and out of a sedan is getting to be a pain in the lower back. The magic of hitting 50 I suppose!
@bayoubob Have you seen the ads for the Lucid Sapphire--amazing-1200 HP but $200K+. too rich for this retiree that is significantly older than 50