Lucid Group (LCID) cut prices of its Air range of luxury sedans earlier this week for a limited time ahead of the holiday season, amid stiff competition and slowing demand for electric vehicles, Reuters says. High-interest rates have hit demand for EVs, and auto manufacturers, led by the world’s most valuable automaker Tesla (TSLA), have responded by cutting prices, the publication says. Lucid slashed the price of its Air Touring model to $87,500 from $95,000 and the more powerful Grand Touring by $10,000 to $115,600.
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