Lucid Gravity Customers Opting For High-End Configurations, All The Way Up To $120,000: CEO Says SUV 'Attracting New People To The Brand'

Customers of Lucid Motors’ LCID Gravity SUV are purchasing the vehicle for above $120,000, though it starts at $94,900, the company’s interim CEO Marc Winterhoff said on Tuesday.

What Happened: Lucid started delivering the Gravity to customers in December. Orders are now being taken only for the Grand Touring trim of the SUV starting from $94,900. Production of the lower-priced Touring trim of the vehicle, starting at $79,900, will start only in late 2025, the company previously said.

Despite the high price point on the Grand Touring trim, customers are ordering highly optioned, equipped configurations with a price of above $120,000, Winterhoff said. More than two-thirds of customers are also opting for the seven-seater configuration of the SUV, he said while adding that he expects the trend to go down over time as the company adds less-equipped configurations into inventory.

Regarding the demand for the higher-end EV, Winterhoff said that orders exceeded his expectations. “We’ve opened the orders for the Grand Touring in the U.S., and the orders for the Gravity Grand Touring are exceeding the Air Grand Touring by far in the same timeframe,” he said.

The company has done no marketing thus far for the SUV and is planning to increase it “drastically” over the next couple of weeks, he added.

Expanding Market: According to the new CEO, more than three-quarters of Gravity customers are new to Lucid.

“The Lucid Gravity is attracting new people to the brand, again, despite very limited marketing. As we ramp up the number of Lucid Gravity’s on the road and our marketing campaigns, we anticipate seeing a strong growth trajectory like we saw with the Lucid Air, but in a much larger market opportunity,” he said.

The company also expects to start producing several SUVs for customers in Saudi Arabia. The vehicles will be sent for final production at Lucid’s facility in Saudi and final production will be complete in the second quarter, he said.

The company said on Tuesday that it expects to produce 20,000 vehicles this year, significantly higher than the 9,029 manufactured in 2024. However, the company did not clarify how many Air sedans or Gravity SUVs it intends to make in the timeframe.

Price Action: Lucid stock rose 9.6% after hours after closing down 6.1% on Tuesday after the company reported a fourth-quarter loss of 22 cents per share, better than the expected 27-cent loss. Quarterly revenue of $234.5 million beat estimates of $214.22 million.

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Photo courtesy: Lucid