The Lilywhites served up a shocker of a performance, with them 3-0 down by half-time.
They were all over the place and the margin of victory could have been ever greater.
North End were backed by 614 travelling supporters and PNE manager Lowe has vowed that all will get their ticket money back.
Lowe said: “It wasn’t good enough from start to finish.
"I can only apologise and we will reimburse the fans, give them their money back.
"They have paid money to come down here and watch us on a cold Wednesday night when they might have been better staying in putting their feet up.
"The performance wasn’t anywhere near the levels I expect as Preston North End manager and what the fans expect.
"It was one of those games that does happen once in a while – hopefully.
"That has happened now, the players have been fantastic for the 17 or 18 games I have been in charge in the league.
"The lads are hurting in there, they know they have let me down, my coaching staff down, the fans down and themselves down.
"The goals were just Kamikaze really, I just didn’t see them coming. When you look at the first it was a misjudgement, the ball dropped to their lad and he hit it.
"Cameron Archer had a good chance after that and should have scored it or squared it, then it could have been a different game.
"Take nothing away from Luton, they were on the front foot and trying to get into the play-offs.
"I’m just disappointed with the performance, we gifted them everything and this was a game when nothing went right.”
It was North End’s biggest defeat of the season and only a third in the Championship under Lowe’s watch.
Lowe said: "Before the game the lads were in good spirits and trained well.
"I just didn’t see it coming. You could maybe blame one or two along the way but I’m the manager, I take responsibility, I pick the team.
"They have executed our game plan in the games we’ve had, minus one or two of the halves.
"This needs to be put to bed quickly, I’ll analysis it, make sure the lads look at it because they are a good group.
"Unfortunately we haven’t got a game on Saturday to put it right, we don’t play now for two-and-a-half-weeks.
"We will have a think about things but I don’t want to see a performance like that again.”