In an effort to stimulate demand in a slowing market, electric car manufacturer Lucid Group reduced the price of its flagship Air luxury sedans by 1% to 10% on Thursday.

Manufacturers have been responding to the more than a year-long slump in demand for EVs by cutting prices and, in certain cases, reducing production.

In August of last year, Lucid had already cut its costs.

The base price of the Air Pure rear-wheel drive is now $69,900, while the Air Touring and Air Grand Touring models cost $77,900 and $109,900, respectively.

Tax, title, license, options, destination, and documentation fees are not included in the pricing, which are intended only for US consumers.

Previously, the prices of Air Grand Touring stood at $110,900, the Air Pure was priced at $77,400, and the Air Touring at $85,900.

With every Lucid Air purchase or lease, Lucid has also announced it will offer a $1,000 allowance toward the cost of charging accessories and free scheduled maintenance for two years.

Based on January predictions by research firm Canalys, growth in the worldwide electric vehicle (EV) market is likely to decrease to 27.1% this year from estimated growth of 29% in 2023, as reduced state subsidies makes the cars less appealing to purchasers.

Last month, Lucid announced that compared to one year ago, its fourth-quarter deliveries and output were down. It had already reduced its output goal for 2023 in early November.

The company’s quarterly results are expected to be made public on February 21.