Here’s How Much A Lucid Air Depreciates After 2 Years

Lucid Motors might seem like a new name within the automotive industry, but the American car company has been around since 2007. Plenty of automotive brands, such as Tesla and Rivian, have a strong foundation for their luxury electric vehicles (EVS), but Lucid Motors branches this area of expertise even further. The electric automotive industry is surrounded by innovations centered around design and technology. When you look at this field of cars, you’ll see that these traits that center around innovation are the name of the game.

It’s no secret that electric vehicles are a hot topic for some. While some people love them and others hate them, these brewing topics tend to elicit some stereotypes, which aren’t new when discussing controversial topics. One stereotype that EVs have difficulty running away from is the claim that they depreciate faster than traditional gasoline-powered vehicles. While this is true for some, it isn’t necessarily the case for all.

Lucid Motors might not be a new company, but its first car, the Lucid Air, was announced in 2016 and rolled off the assembly lines in 2022. It’s hard to take statistics on a young car, let alone a company that hasn’t been selling cars for a while. That doesn’t mean that the Lucid Air can’t be examined to see if it fits the role of a depreciating EV. The good news is there is plenty of data on the Lucid Air, which is perfect for finding how much this luxury EV depreciates within two years.

In order to give you the most up-to-date and accurate information possible, the data used to compile this article was sourced from Lucid Motors and other authoritative sources, including Kelly Blue Book, iSeeCars, Edmunds, and AAA.

The Lucid Air Loses Half Of Its Value After 2 Years

It’s a known stereotype, or as some people would say, “fact,” that luxury vehicles tend to keep costs running high even after purchase. While that was true back in the day, luxury vehicles on the market don’t expect rent fees every year. You’re here today to determine whether the Lucid Air will hold its value while keeping costs low, or doing the complete opposite.

Lucid offers the Air in four trims, ranging from $69,900 to $249,000. It’s worth noting these MSRPs because not all trims will be discussed when evaluating the data. For instance, if you take the base model with a starting price of $71,400, you can expect to sell that exact vehicle after two years for $35,700. Funny enough, the Lucid Air that you just owned for two years depreciated by precisely fifty percent.

The Lucid Air Depreciates Faster Than The Average Luxury Electric Car

A fifty percent depreciation after two years might seem like a lot, but it isn’t anything out of the ordinary. It’s known within the automotive world that once you drive a new car off of the dealership lot, it is expected to lose at least ten percent of its value. This continues to increase, with new vehicles depreciating by twenty percent in the first year of ownership. But there are even more factors to consider, such as the brand, car type, aka EV, HEV, non-electric, and even the market. There are a lot of factors, but you’ll stay on track with some of the easier ones that don’t change based on inflation or year.

Lucid Air Depreciation Comparison

Many factors go hand in hand with comparing, which is sometimes the best way to determine a car’s worth. According to iSeeCars, a new Lucid Air depreciates 52.9 percent after three years. The Lucid Air depreciates faster than its counterparts and competition. All luxury electric midsize vehicles are projected to depreciate by 37.5 percent after three years. The excellent news for Lucid is that the depreciation starts to slow down and match all other luxury midsize EVs after five years, and so on.

You Can Expect To Lose A Good Chunk Of Money With Out-Of-Pocket Expenses

The Lucid Air will pull in some hefty prices during ownership, but it actually sits right on the average for some of these costs. After five years, you can expect to pay $3,115 in maintenance fees, which is below average than all cars. The stereotype that “electric vehicles are more expensive to own than gasoline-powered ones” is false.

The average annual cost of an EV sits at $8,320, whereas vehicles such as SUVs, trucks, and medium sedans are all more expensive to own. So, while the Lucid Air will cost a good chunk of money over five years, it is no different from your ordinary traditional car, which might be more expensive to own.

5-Year Ownership Costs

Buying A Lucid Air New Vs. Used

While collecting the data on the Lucid Air’s depreciation, it’s apparent that models on the market right now that are used will be significantly discounted. With a quick glance at Cars or Edmunds, you’ll see that 2022 and 2023 models with less than 15,000 miles are being sold in the fifty thousand dollar range.

Electric vehicles over the years have shown large price drops, but several factors affect them, such as higher demand for hybrids, older models getting redesigned, and, of course, the economy. Ultimately, it comes down to the buyer deciding if they want to buy a new Lucid Air that’s inevitably prone to depreciate or buy a used one for half the price.

The Lucid Air’s Different Configurations

The Lucid Air is offered in four trims, and each configuration distinguishes itself from its counterparts. The base trim, the Pure, is the entryway model, producing 430 horsepower and a full range of 420 miles. If you keep going up the pecking order, you’ll see that each trim increases its power substantially. The Touring is the second trim, offering more standard features along with added performance.

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Lucid Air Trims And Performance

The Grand Touring, with a starting price of $110,900, is arguably the ideal configuration for all parties. This is because it excels in performance, range, charging times, and standard features above the others. You can expect a range of 512 miles and 819 horsepower. If that isn’t enough power, and you have an additional $138,100 to spend, then the “fully-equipped” Sapphire with an astonishing 1,234 horsepower might do the trick. While the Sapphire is the model with everything the brand offers, it always comes down to personal preference and your budget.

The Lucid Air Is Still Relatively New To The Automotive World

It’s important to remember that Lucid Motors is a new brand within the electric automotive industry. This plays a crucial role, and as most know, when you have a start-up business or push out your first batch of merchandise, there will always be obstacles and heavy expenses. From the data collected in the last three years on the Lucid Air, it seems to be doing good for an electric vehicle.

​​​​​​​There’s a common saying in the car world that people should stay away from models within their first generation. Lucid Motors shows that this isn’t always the case and that there are models, such as the Air, that you can buy when they debut.​​​​​​​

A New Car Depreciates Faster Than A Used Car

It’s also worth noting that new cars will typically depreciate faster than used cars. One primary reason is that a car’s depreciation will slow down after three years, even during ownership. This was shown with the Lucid Air depreciating quickly initially and then slowing down towards the middle. More factors at the start of ownership can affect a car’s value, such as driving it off of the lot, than ones towards the middle and end. The factors that second or third owners run into are maintenance and possible collisions, which also play a significant role in a car’s value. ​​​​​​​

There Are Many Factors That Effect A Car’s Depreciation

In the end, depreciation within the automotive industry encapsulates various factors. Whether it’s the condition, mileage, age, demand, or economic factors, it will always be different given the day. There is no right or wrong answer, but only “guesses” backed up by an assortment of research and data. For now, the Lucid Air will cost some expenses over the years, with its purchase price or even its ownership costs, but it is to be expected with it being a luxury electric vehicle.

Stereotypes have been debunked with EVs showing that they can be at the same price as gasoline-powered cars or even cheaper, along with projections showing they are more affordable to maintain than non-electrified vehicles. The Lucid Air is still a young model on the market, but it doesn’t fit into the category of EVs with exceptionally high maintenance costs. If you’re looking for a brand new Lucid Air, be ready for the car to lose half of its value within the first two years and settle down towards the third and fourth.