1. Lucid introduces Lucid Recharged, its first certified pre-owned vehicle program. 2. Vehicles under the program undergo rigorous inspections and reconditioning. 3. All certified vehicles come with extended warranties and roadside assistance. 4. The program aims to boost customer confidence in purchasing used vehicles. 5. Lucid Recharged enhances market position against competitors in EV sector.
FAQ
Why Bullish?
Introducing a pre-owned program may stimulate sales and brand trust, similar to Tesla's CPO success.
How important is it?
The new program can attract a wider customer base, improving overall sales and brand loyalty.
Why Short Term?
Initial consumer interest can drive immediate sales; longer-term effects depend on execution.
Lucid Group Launches Certified Pre-Owned Vehicle Program: Lucid Recharged™
Lucid Group, Inc. (NASDAQ: LCID) has officially announced the launch of Lucid Recharged™, its inaugural certified pre-owned vehicle program designed to provide car shoppers with access to the leading electric vehicles in the market. This new initiative allows consumers to experience the innovation and performance characteristic of Lucid's models at a more affordable price point.
Overview of Lucid Recharged™
The Lucid Recharged program focuses on single-owner vehicles that have accrued fewer than 62,000 miles. Each vehicle undergoes a comprehensive inspection, consisting of over 160 points, to uphold the highest standards of quality and reliability.
Key features of the Lucid Recharged program include:
- Mechanical and cosmetic reconditioning using only Lucid-approved parts.
- Balance of the original 4-year/50,000-mile factory warranty.
- An additional 12-month/12,000-mile manufacturer limited warranty.
- Roadside assistance for the full warranty duration.
- A verified clean title and service history, complemented by a CARFAX® report and an inspection report.
Enhancements and Customer Options
Customers will have opportunities to enhance certain Lucid Recharged vehicles with upgrades, such as the advanced DreamDrive® Pro driver assistance system. This allows drivers to tailor their vehicle experience while still benefiting from the quality assurance that comes with Lucid’s reconditioning process.
Company Insights and Leadership Quotes
Erwin Raphael, Senior Vice President of Revenue at Lucid Group, stated, "Lucid Recharged certified pre-owned isn't just a used car – it's a Lucid reborn. Now it's easier than ever to enjoy the innovation, performance, and safety for which Lucid is known, along with the added confidence and peace of mind from a Lucid-backed reconditioning and additional CPO warranty coverage." This program aims to reaffirm Lucid's commitment to customer satisfaction and quality assurance in the evolving automotive market.
About Lucid Group (NASDAQ: LCID)
Lucid Group is a technology company based in Silicon Valley, dedicated to designing the most advanced electric vehicles in the industry. The Lucid Air and the Lucid Gravity SUV are noted for their exceptional performance, sophisticated design, and energy efficiency, all manufactured in state-of-the-art factories in Arizona and Saudi Arabia.
Through innovative technology, Lucid is redefining the standards of electric vehicle performance for the benefit of consumers around the world. For more information about the Lucid Recharged program and to explore available certified pre-owned inventory, visit Lucid Motors.