Lucid is offering a $15,000 Black Friday credit on new 2027 Gravity Touring SUVs and $10,000 on new 2027 Air Touring sedans, but only to U.S. buyers paying cash or using outside financing, according to an email the company sent to customers who signed up for early access.
The credit cannot be combined with any other Lucid incentive, and buyers must take delivery by the end of November.
The promotion lands days after Lucid’s management told analysts the company would keep converting finished vehicles into cash in the fourth quarter while holding production below deliveries.
What the Terms Say
Lucid’s U.S. homepage and its offers page now carry a “Black Friday Exclusive Offers” block inviting visitors to “unlock early access.” The linked page publishes no terms. It asks only for a name, email address, ZIP code and phone number.
The confirmation email, reviewed by EV, says early access “includes a Lucid Black Friday Credit toward MY27 Lucid Gravity Touring or MY27 Lucid Air Touring” and that “both offers are available through November 30.”
Its fine print reads: “For U.S. customers purchasing vehicles with cash or 3rd party financing only.” It adds that the “Black Friday credit cannot be combined with any other incentives, credits, or discounts.”
The cash-or-outside-financing condition means buyers who lease or finance through Lucid’s own lender, Lucid Financial Services, cannot use the credit. The terms do not say whether a lease arranged through an outside bank qualifies. They refer only to customers “purchasing” vehicles.
The email names only the Touring trims of the 2027 model year. It lists no credit for the Gravity Grand Touring, the Gravity GT-S, the Air Pure, the Air Grand Touring or the Air Sapphire.
The terms had earlier been described by Reddit user IllustriousRaccoon25 in the r/LUCID forum, who wrote that the deal excluded Lucid’s own lease and finance and asked whether it could be stacked with other credits.
No Stacking
Lucid’s regular November offers answer that question from the other side. The terms for its $1,000 Demo Drive Credit, its $3,500 first-time EV discounts and its loyalty offer each state that they “cannot be combined with Black Friday offer.”
The loyalty offer is worth $3,000 on a Gravity and $2,000 on an Air for existing Lucid owners. It applies only to new 2026 model-year vehicles, according to Lucid’s terms.
The first-time EV discount is $3,500, offered as the state-funded MyFirstEV Discount in California and as the Lucid Go Electric Credit elsewhere.
The Go Electric Credit requires an order between November 1 and 11:59 p.m. ET on November 30, and neither first-time offer applies to the 2027 Air Pure or the Gravity GT-S.
The demo drive credit goes to customers who order within three days of a test drive and take delivery by November 30.
How It Compares
For the Gravity Touring, the Black Friday credit is larger than Lucid’s standing cash incentive. The company’s offers page lists the 2027 SUV from $79,900 “plus up to $10,000 Lucid Credit” on a cash purchase, making the Black Friday credit $5,000 higher.
The same holds for the Air Touring. The offers page lists the 2027 sedan from $79,900 “plus up to $5,000 Lucid Credit” for cash buyers, $5,000 below the Black Friday amount.
The $15,000 credit equals 18.8% of the Gravity Touring’s $79,900 starting price, which excludes destination and other fees. The $10,000 credit equals 12.5% of the Air Touring’s. Including destination, Lucid’s footnotes price the 2027 Gravity Touring at $81,750 and the 2027 Air Touring at $81,400.
The Lucid Credit’s own footnote states that it “cannot be combined with Black Friday offer.”
The Black Friday amount for the 2027 Gravity Touring matches what Lucid offers on the outgoing model. Remaining 2026 Gravity Touring stock is listed on the offers page as “Limited Inventory Available” with a “$15,000 Lucid Credit Available” for cash buyers. The 2026 Air Touring carries “up to $10,000 Lucid Credit” for cash buyers, the same as the new Black Friday credit on the 2027 sedan.
Lucid’s leases sit outside the Black Friday program. Its 2027 Gravity Touring lease starts at $749 a month for 36 months with $6,249 due at signing and assumes a $10,000 Lucid Credit. That lease is “only available to U.S. customers leasing through Lucid Financial Services,” the terms state.
Financing on the 2027 Gravity Touring runs at 0.99% for up to 60 months “plus up to $5,000 Lucid Credit,” while the 2027 Air Touring carries 1.99% for up to 60 months. Remaining 2026 Gravity and Air models are listed at 5.99% for up to 72 months.
All of Lucid’s regular November incentives also require delivery by November 30.
Month to Month
The November Gravity terms reverse part of October’s tightening. In late September, Lucid advertised the 2027 Gravity Touring at $749 a month with $6,249 due at signing and 0.99% financing. In October it kept the payment but raised the amount due to $7,249 and the rate to 1.99%.
The 2026 Gravity was offered at 0% for up to 72 months in September and October, against 5.99% on the page now.
Last year’s Black Friday promotion was smaller. Lucid offered $3,000 off the Gravity and $2,000 off the Air on select inventory vehicles for U.S. orders placed between November 28 and December 1, 2025, and advertised Gravity lease prices that included the Black Friday savings.
2027 Cars Only
The Black Friday credit is limited to the 2027 model year, even though 2026 cars remain on sale. Lucid’s online inventory tool on Wednesday listed both 2026 and 2027 Air Touring and Gravity Touring vehicles near its headquarters in Newark, California, many marked “Available Now” or available within one to two weeks.
Lucid’s 5.99% financing on the Gravity and Air and its loyalty offer apply to 2026 model-year vehicles, according to the offer terms.
Lucid has not said why the Black Friday credit excludes 2026 cars or its own financing arm.
Inventory in Focus
Inventory reduction was a central theme of Lucid’s third-quarter earnings call on November 9.
“During the third quarter, we deliberately reduced production to release cash from inventory and better align with near-term demands,” Chief Financial Officer Alexander De Bock said. The cut came mainly from eliminating a second shift at the company’s AMP-1 plant in Arizona in June.
Lucid built 2,954 vehicles in the quarter and delivered 3,806.
Inventory stood at $1.22 billion on September 30, down from $1.38 billion on June 30 but above $1.11 billion at the end of 2025, according to Lucid’s quarterly report. Finished goods fell 14.1% from June 30 to $534.7 million.
De Bock said reducing inventory “remains a key component of our operating reset.” Net inventory fell by $156 million from the second quarter, “driven primarily by converting work in progress and selling vehicles from existing inventory,” he said.
“We expect to continue to convert finished goods inventory into cash as we maintain lower production in Q4,” De Bock said.
In the fourth quarter, Lucid will focus on “maintaining disciplined production levels, releasing cash from working capital, driving structural cost reductions, and ensuring pricing discipline,” he said.
The company’s earnings presentation states that it expects fourth-quarter production to come in below deliveries. Inventory accounts for about $700 million of Lucid’s $1.4 billion operating reset, of which about $300 million had been realized, according to the presentation.
Selling From Stock
Chief Executive Officer Silvio Napoli acknowledged that the company struggled to match orders with available cars at the start of the third quarter.
“At the beginning of Q3, we struggled because, and I have to say this, we did not even know where cars were,” he said. Some orders took up to two weeks to deliver, “and so we would lose the order.”
The company now tracks “what cars are being produced, where are they being shipped, where are they being stored, and by when can they be available,” he said.
De Bock said Lucid expects deliveries to increase from the third quarter to the fourth as the U.S. EV market improves. Napoli pointed to rising Gravity deliveries, citing “high double-digit increases” quarter on quarter.
U.S. EV market volumes fell 13% from the second quarter to the third, while Lucid’s deliveries fell 4%, De Bock said. Earlier coverage showed the Air posting its weakest U.S. quarter since mid-2022 in Cox Automotive data and Gravity sales slipping in California for a second straight quarter.
Analyst View
Citi analyst Michael Ward cut his Lucid price target to $9 from $11 on Wednesday and kept a ‘Buy’ rating, his third reduction since he initiated coverage at $17 in March, according to a note archived by Price Target.
Price Target, a sister publication of EV, archives Wall Street analysts’ research on the electric vehicle, artificial intelligence and semiconductor sectors. Citi is the only firm in its Lucid archive that rates the stock a ‘Buy’.
The Black Friday credits expire on November 30, a month before the end of a quarter in which Lucid expects deliveries to rise from the third quarter’s 3,806.
