Early adopters help push new technologies out the door, but sometimes the eagerness to get the latest thing can end up costing more than you bargained for. EVs are a great example of a technology still in an early stage of development, as each new iteration delivers noticeable improvements in performance, range, and functionality.And when it comes to the cutting-edge world of pricey luxury EVs, the technological landscape shifts so quickly that standing still will soon have you at the back of the queue. So, to see whether it was a better strategy to hold out and buy one of these advanced EVs as a used buy, we looked into the ownership prospects of a 2023 Lucid Air.All vehicle data is from reputable sources. Pricing excludes destination charges and tax unless otherwise specified. This article looks into the used values and viability of owning a second-hand 2023 Lucid Air. The Lucid Air Pure LucidLet's jump right into the meat of the topic. The Lucid Air Pure was and remains the entry-level offering in the range, and for the 2023 model year, it was made available in both RWD and AWD versions. The RWD was intended to be a more affordable alternative to the existing $89,050 AWD version and was released late in the year at $77,400. It represented a saving, sure, but it was still not exactly appealing to the lower end of the market. To help curb costs even further, both the RWD and AWD derivatives did without the full-length glass roof and a few minor options that had been standard the year before. Then, in late 2023, the prices for the AWD models were slashed by around $5,000.Still, most 2023 Lucid Air Pure models left the factory costing between $80,000 to $100,000, and now one can be yours from as little as $34,887. That's the sort of depreciation that has you spitting coffee all over your computer screen in shock. The Lucid Air Pure isn't the only EV to suffer from this sort of value loss, and it certainly makes you think twice about going the new luxury EV route.While we will delve into the other trims further down, it is worth noting that the Air Pure has undergone some updates and improvements that have made it not only more efficient and high-tech but cheaper too. Unfortunately, this is just the sort of thing that depresses used values even further. But this is great news for used car buyers, and the AWD Air Pure version, which was discontinued in 2023, is actually more powerful and quicker than the 2026 RWD Air Pure model.Jared Rosenholtz/CarBuzz/Valnet In terms of range, things haven't changed very much. The official EPA ratings for the 2023 models were between 406 and 410 miles, while the current Air Pure manages 420 miles on a full charge. Total battery capacity has shrunk from 88 kWh to 84 kWh, but a standard heat pump and several efficiency updates give the new Air Pure its extra 10-miles of range over the older cars.The 2026 base price has also come down significantly, something that was necessary to combat increasing competition and the reduction and removal of EV subsidies over the years. Is It A Good Buy? Lucid Lucid was formed to revolutionize EV technology, and while that has been the remit of many EV upstarts over the past decade, it made good on its promise thanks in part to having several ex-Tesla employees in key positions. Their combined knowledge and expertise allowed them to create the Lucid Air sedan, which is still among the most efficient and advanced EVs you can buy.So, while even the older Lucid Air models are technically impressive, the newer versions do benefit from several upgrades that make them even more cutting-edge. But the real benefit is that the quality issues, software glitches, and electronic maladies that some owners experienced when these cars were new have now been mostly resolved. Thanks to over-the-air (OTA) updates, the older models can benefit from many of these fixes, but hardware-based issues may still be lurking in some older cars.But is paying full price for a 2026 model worth it? The average value of a 2023 Lucid Air Pure is $42,444, and a 2026 model costs close to $75,000 once taxes and other charges are factored in. Which means you are saving around $32,500. That's not bad, but we still wouldn't recommend it, not because it is an EV, or because it isn't a very impressive car, but because there is an even better alternative for pretty much the same money: the Lucid Air Touring. This model had standard AWD, way more power, and the late 2023 price cut was a massive $12,550. That certainly shook the used car values, and now they are trading for very similar prices to the Air Pure. The Lucid Air Touring Lucid MotorsThe 819-hp Grand Touring and 1,050-hp Grand Touring Performance models were another step above the regular Touring, and these delivered rocketship acceleration and even more range on a charge. The 2023 Grand Touring could do a mega 516 miles, while the more powerful Performance version managed a still impressive 446 miles. These models are now averaging between $60,000 and $72,000 on the used car market, making them great value compared to their new prices, but not particularly affordable just yet. Long-Term Value Prospects Jared Rosenholtz/CarBuzz/ValnetUnlike a model that has a well-established product lifecycle and a customer base that has predetermined expectations based on past experience, an all-new model like the Lucid Air is going to have a much harder time converting buyers from other makes. As such, constantly refining and improving the basic product shows potential customers that the manufacturer is in it for the long haul. The fact that rivals like Tesla and Rivian are doing the same thing makes it imperative to stay ahead of the game.Jared Rosenholtz/CarBuzz/Valnet Yesterday's cutting-edge is today's average, and while the Lucid Air is far from average, its steep depreciation reflects just how little customers are willing to pay when the competition is tough, and the next best thing is always just around the corner. Viewed as a long-term purchase, values are likely to continue dropping for a while longer, but the Lucid Air offers a level of tech and driver engagement that should keep you happy for a long while yet. If you are in the market for a used $40,000 luxury vehicle and intend to keep it for the foreseeable future, the Lucid Air Pure, and especially the Touring, both represent a lot of car for the money.
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