With Tesla owners looking for another option, one EV brand is taking advantage. Lucid Motors (LCID) CEO said the company is seeing a “dramatic uptick” in orders from Tesla drivers. Over the past two months, 50% of orders were from former Tesla owners.
Lucid orders rise from former Tesla owners
It’s no secret by now that Tesla’s CEO Elon Musk has caused an uproar. Not just among owners but in the general EV community. Bullets have been shot into Tesla stores, people are vandalizing and burning Tesla vehicles, and these are just a few examples.
Musk’s antics are now driving Tesla owners to look for other EV brands. At least one rival is seeing significantly more owners looking to trade in.
After showing off the brand’s first electric SUV, Lucid Motors’ interim CEO Marc Winteroff told Fox Business that the company has seen a “dramatic uptick over the past two months” in orders from former Tesla drivers.
Tesla owners have “always been a source” for Lucid as another EV brand. However, more and more Tesla drivers have been looking to make the switch over the past few months.
Right now, “50% of all of the orders we have are from former Tesla owners,” according to Lucid’s CEO. When asked why owners are ditching their Teslas, Winteroff simply said, “It’s what you mentioned,” referring to the “negative feeling about Elon” and the lack of new vehicles (outside of the Cybertruck). Many are “looking for an option to not continue having a Tesla,” Winteroff added.
The comments come as Lucid ramps up deliveries of its first electric SUV, the Graivty. Winteroff said during the “celestial arrival” of the Gravity last week in NYC that deliveries will resume by the end of April.
Lucid’s Gravity SUV is available in the Grand Touring trim, starting at $94,900. Later this year, Lucid will launch the Gravity Touring starting at $79,900.
Winteroff also spoke about the impact of Trump’s recent tariff hikes, explaining that Lucid’s vehicles are fully assembled in Arizona. Lucid builds everything from the battery modules and packs to the e-motors in the US.
Electrek’s Take
Top comment by citizenjs
Leaving aside for a moment the damage Musk is doing to the entire brand....
A few years ago when people (led by Musk) were predicting ongoing 50% YOY growth and 20 million vehicles produced in 2030, I was asking what was Tesla's plan to transition from a brand primarily appealing to affluent early adopters to a true mass market brand. At the time, they had 1.5 models reasonably fitting into the mass market despite premium pricing (but pricing likely to set a ceiling on demand), two high end models not likely to be much more than rounding errors for total sales, and the polarizing CT in development.
To hit sales numbers like Toyota and VW, they were going to need product in more categories, especially down-market. To become a leading manufacturer, new product didn't need to be exciting, but did need to fit more customers' needs and offer better value.
3-4 years later, they're in the same position, except that CT is in production and not selling very well. So it's clear there wasn't a real plan to become a mass market vehicle manufacturer.
The real kicker, though, is that now we know they didn't have a plan to remain a top choice for affluent early adopters either. For that, they needed their products to continue to look and feel fresh and cutting edge. Limited refreshes of S and 3 didn't do much for that. The Y refresh doesn't look that way either. I don't understand what they were thinking, if they were thinking at all.
Elon Musk is hurting the Tesla brand, and it’s becoming evident. Lucid is just one example of a rival company that is seeing more Tesla drivers looking to ditch the brand.
According to a recent YouGov and Yahoo News poll, 67% of Americans would no longer consider buying or leasing a Tesla vehicle.
Most blamed Elon Musk as the reason. Of those who would not consider a Tesla, 37% said it was fully or partly the reason, while another 20% said it was the whole reason. The survey revealed that Americans’ view on Musk is turning negative, with 55% saying they had an unfavorable opinion of Tesla’s CEO.
With Tesla’s first quarter deliveries due out this week, we will likely see more of the damaging impacts as analysts expect what could be its worst performance in two years.
FTC: We use income earning auto affiliate links. More.
Comments