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Investor's Corner

Lucid launches its own Referral Program to drive sales after slow quarter

Credit: Lucid Group

Lucid has added its own Referral Program in an effort to drive sales upward after a slow quarter.

We have reported on Tesla’s Referral Program in the past, which has rewarded owners with chances to win cars, free Supercharging miles, and other prizes for encouraging people to buy the company’s products using a referral code.

It has been a highly successful program that has resulted in more butts in seats, driving sales upward and encouraging the skeptics to buy sustainable vehicles.

Lucid is now adopting the same strategy, giving owners a unique referral link to share with friends and family that will result in discounts on new vehicles.

Current owners will be able to share their referral link with whomever they please, and when they decide to purchase a vehicle, they will be rewarded with points. This will give them the opportunity purchase anything from “a variety of branded gear, vehicle accessories, or limited-edition products.”

A variety of experiences will also be redeemable, including a tour of Lucid’s HQ in Silicon Valley or the AMP-1 plant in Casa Grande, Arizona.

Future owners, or those who will buy a car using a referral code, will receive a variety of discounts on vehicles depending on the model:

  • $750 on Air Pure
  • $1,000 on Air Touring
  • $1,250 on Air Grand Touring
  • Sapphire-branded duffel bag upcycled from the same leather featured in the Lucid Air Sapphire, for Sapphire deliveries.

Lucid may be using the referral program to try and push its current owners to share their experiences with potential owners, which could help convince more people to buy the company’s cars.

Lucid had a tough Q3 where it produced only 1,550 vehicles during the quarter and said over 700 additional vehicles were in transit to Saudi Arabia for final assembly.

The company is losing a substantial amount of money with every car it builds and delivers right now, as it has not yet scaled production enough to minimize its losses.

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Lucid launches its own Referral Program to drive sales after slow quarter
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