Lucid is offering a $10,000 credit on the hood of its remaining 2026 Gravity SUVs, paired with zero-interest financing for a full 6 years. It is a compelling deal for anyone shopping for a luxury electric SUV, and it is also one more sign that demand for expensive EVs has gone cold. The offer, promoted through an email campaign and listed on Lucid’s website, requires buyers to take delivery by July 31. It lands at an awkward moment for the company, which is still selling first-year 2026 Gravity stock in July, even though the updated 2027 model went on sale back in April. With a large chunk of that opening-year inventory still to move, Lucid has escalated its discounting to the most aggressive level yet on a vehicle that has struggled to find buyers since its launch.
The deal on the table
The headline incentives are a $10,000 Lucid Credit and 0% APR for up to 72 months on the 2026 Gravity Touring and Grand Touring, the most affordable financing Lucid has ever offered on the SUV. Layered on top are a $3,000 loyalty offer for existing Lucid owners and a $3,000 trade-in allowance for owners of other brands, though not every incentive can be combined. On the lease side, the Gravity Touring is advertised from around $699 per month, and the Grand Touring from around $949 per month.
It is worth knowing where that $10,000 credit comes from. It is a company-funded incentive Lucid introduced in 2025 to replace the federal EV tax credit of $7,500, which expired at the end of September, since neither the Gravity nor several rival luxury EVs qualify for it anymore. In other words, Lucid is absorbing the cost of keeping its cars competitive, which is not something a company does when demand is strong.
Why the incentives keep growing
The discounting has climbed steadily. The Gravity carried no financing incentive at all until last September, when Lucid introduced a 5.92% rate ahead of the tax credit’s expiration. By spring, the company had cut that to 0% for 60 months and stacked up to $12,500 in lease incentives, and now it has stretched the zero-percent term all the way to 72 months.
The pressure behind those moves is visible in the numbers. Lucid delivered 3,953 vehicles in the second quarter, below Wall Street’s expectations, after a first quarter disrupted by a Gravity second-row seat recall. The company’s stock has slumped toward record lows, it has reshuffled much of its senior leadership, and it is slowing its planned European expansion. Its finance chief has even acknowledged that Lucid’s current cars are too big for many European buyers, a candid admission of a demand problem.
Part of a broader luxury EV chill
None of this is happening in isolation. Affluent buyers across the United States, Europe, and China have increasingly favored plug-in hybrids over full EVs, and luxury brands from Porsche to Mercedes-Benz have slowed their electrification plans in response. A high-priced electric SUV like the Gravity, which stickers well into six figures on its upper trims, is squarely in the part of the market that has cooled the most.
Lucid’s real hope for volume is not the Gravity at all, but the Cosmos, a mid-size SUV it plans to price below $50,000 with a reveal expected this summer and a launch by year’s end. The company has recast the Gravity and the Air sedan as brand-building halo products rather than volume sellers, which helps explain why it is willing to discount them so heavily to keep them moving.
What it means for buyers
For a buyer who was already considering a luxury electric SUV, this is a genuinely strong offer on a fast, well-regarded vehicle, and the July 31 delivery deadline gives it urgency. The flip side is that incentives this large are a warning about resale value and demand, so it is worth weighing the discount against how the Gravity may depreciate. Terms vary by trim and buyer, and some offers cannot be combined, so anyone tempted should read the fine print on Lucid’s current offers before the deadline.
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