GM, lastly, ramps up Cadillac Lyriq to fulfill demand for luxurious SUVs

Common Motors says it’s responding to a powerful demand for luxurious EVs by ramping up manufacturing of its Cadillac all-electric Lyriq SUV this yr. The corporate says it has resolved its battery module manufacturing issues which have plagued gross sales for the final two years.

Final yr GM added new dealerships in 2023 in New York, Texas, Los Angeles, and Atlanta, stated John Roth, vp of worldwide Cadillac, yesterday at a media roundup, reported by Detroit Free Press.

GM has struggled to get the ball rolling with the Lyriq and different EVs as a consequence of “a problem” with its battery modules, however the firm says it has now turned that round, Reuters stories. Final yr, Cadillac delivered 9,000 Lyriqs, with fewer than 2,400 within the first half.

Again in 2020, about 20% of Cadillac’s US sellers, some 170 to 180 sellers, took buyouts from GM slightly than make investments, promote, and repair EVs. However Roth stated now the info reveals prospects need luxurious EVs, “even when demand cooled throughout the mainstream market final yr,” Detroit Free Press stories.

“Not simply in California, however… in all of the areas right here within the US  and even in Canada the place we actually have an excellent availability of the product now,” Roth stated. “The luxurious business is working at a bit completely different degree than the principle market is when it pertains to EVs. We nonetheless see within the knowledge: 60% of the buyer base stated that their subsequent luxurious car shall be an EV. So a number of clear knowledge factors to point out there may be robust curiosity and we now have robust gross sales. We’re bullish on the place we’re headed.”

Cadillac can also be focusing on areas the place luxurious buyers dwell, comparable to opening a brand new Cadillac dealership within the “coronary heart of the town” in Manhattan and in different metro markets, Roth stated.

The all-around Lyriq has been in comparison with the Mercedes EQE SUV, Audi A8 e-tron, and BMW iX, however it presents a formidable 300 miles or vary at a worth set round $60,000. The only-motor, rear-drive mannequin comes with 340 horsepower for 0-60 mph in six seconds, and 500 hp for dual-motor. The 2024 Cadillac Lyriq begins at $57,195, with the mid-range Luxurious trim begins at $61,295. The highest-of-the-line Sport mode begins at $61,795.

The Lyriq misplaced its eligibility for federal tax incentives at first of this yr, however GM is making up the distinction with $7,500 to offset the loss. Plus the corporate stated it ought to regain its eligibility early this yr. Lyriq is in-built Spring Hill, Tennessee.

Electrek’s Take

That is excellent news for GM, with the Lyriq now making up 12% of Cadillac’s fourth-quarter retail gross sales. To this point this month, it’s monitoring to be round 25%. Contemplating that GM offered 122 Lyriqs in 2022, it is a large step. The model did promote greater than 9,000 models final yr, however that quantity was nonetheless far under what was anticipated.

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