Lucid is offering Tesla owners $4,000 to trade in their EVs — and it might have more to do with Elon Musk than customer loyalty.
The offer isn’t new, but Lucid has kept it active long after similar promotions from rivals have ended. The goal? Convince Tesla drivers to leave their current EV and upgrade to a Lucid Air with a sizable bonus for doing so.
But there’s more than just marketing behind it. This battle is personal.
Lucid vs. Tesla: More Than Just Competition
Lucid isn’t just another EV company trying to grow its user base. It’s led (or was led) by a man with a complicated history with Musk: Peter Rawlinson.
The former Lucid CEO, now a board member, worked at Tesla during the Model S era. He claimed to be the Chief Engineer behind one of Tesla’s most iconic vehicles — but Elon Musk has publicly disputed that title, sparking a feud that still simmers years later.
This rivalry makes Lucid’s trade-in campaign feel less like a sales strategy… and more like a targeted strike.
The $4,000 Offer: What’s the Catch?
Lucid’s $4,000 trade-in allowance applies specifically to Tesla vehicles. It’s designed to sway Tesla owners who may be:
- Frustrated with Elon Musk’s politics or online behavior
- Looking for a change after years in the Tesla ecosystem
- Tempted by luxury EV alternatives with different branding
The promotion has been shared widely on social media, with auto insiders noting how long it has lasted compared to typical short-term incentives.
Lucid still aggressively targeting Tesla customers ($4000 offer) pic.twitter.com/zlIafvn6wK
— Lordsparo (@Lord_Sparo) June 5, 2025
Tesla’s Popularity Makes It a Prime Target
Lucid isn’t alone. Other EV companies, including Polestar, have been running similar campaigns aimed at Tesla drivers.
It’s not hard to understand why. Despite Tesla’s innovation and market lead, its brand has become polarizing in some circles. Elon Musk’s vocal involvement in politics, his support for cryptocurrency like DOGE, and his ownership of X (formerly Twitter) have pushed some customers to reconsider their loyalty.
Competitors are betting that financial incentives like this trade-in bonus could be enough to trigger a switch.
Do These Trade-In Offers Actually Work?
It’s unclear how successful Lucid or others have been at converting Tesla owners. While these promotions generate buzz, there’s little data on actual trade-in conversion rates.
Tesla owners are known for their brand loyalty, and many stay because of Tesla’s:
- Superior charging network
- Regular software updates
- Strong resale value
- Proven Autopilot and FSD features (see What Is Tesla Autopilot?)
Still, if even a small percentage of Tesla owners switch, it could be a big win for smaller EV startups like Lucid and Polestar.
Elon Musk Still Holds the High Ground
Despite the noise, Tesla remains the king of EVs. The company delivered over 1.8 million vehicles in 2024 alone. It dominates the charging infrastructure game and is still the most recognized EV brand globally.
Meanwhile, Lucid struggles with delivery volume and pricing issues. Its vehicles are praised for design and luxury, but they lack the scalability and ecosystem Tesla offers.
So while Lucid’s $4,000 offer might grab attention, Tesla’s dominance isn’t shaking yet.