Lucid Group, Inc. LCID has lowered its prices more expensive electric vehicle sedanbut the price stimulus is not available to all buyers, a report said on Friday.

What happened: Lucid is offering a $7,500 discount on its Air sedan to customers who lease the vehicle through its Lucid Financial Services, Drive Tesla Canada reported, citing an email from the company to reservation holders.

The Newark, Calif.-based electric vehicle maker reportedly said in the email that the price reduction will come in the form of a capital cost reduction, requiring reservation holders to pay lower monthly rates for their Air sedan leases. This would mean the company’s Lucid Air Grand Touring will cost a buyer $131,500 now, still more expensive than Tesla, Inc TSLA Model S plaid. With the cuts announced by the Elon Musk-run company earlier this month, the plaid retails for $114,990.

See also: Is Lucid Stock a Good Buy?

Why it matters: Electric vehicle industry leader Tesla has announced a series of downward price adjustments since late last year. The biggest of these came on Jan. 12, when price cuts ranging from 5.7% to 13.5% were announced for all of its models.

After the move, analysts said it would trigger consequential cutbacks from all industry players to position their vehicles at competitive prices.

Lucid saw reservations fall late last year, although the company managed to beat its lowered production forecast for the year. The company offered its employees an $18,000 rebate on its vehicles in early December.

Lucid closed Friday’s session down 4.97% at $7.82 Benzinga Pro data.

Continue reading: Tesla’s Price Cuts Stimulate Orders, GM’s Baby Pickup, Ford Aims to Go Solo in Europe, and More: This Week’s Biggest EV Stories