DETROITA new $80,000 performance version of General Motors’ all-electric Cadillac Lyriq was unveiled Thursday. The Detroit carmaker hopes to become the top-selling premium EV brand in the United States this year.
With a growing array of electric cars, including the performance Lyriq-V, Escalade IQ SUV, and the impending entry-level Optiq crossover, Cadillac hopes to meet that goal.
In 2025, we plan to establish Cadillac as the top-selling luxury electric vehicle brand in the United States. Let me reiterate: Cadillac Vice President John Roth stated at a press meeting that the brand would be the top-selling premium EV in 2025. The possibilities in the premium EV market are virtually limitless.
However, the opulent area might not be as obvious as it seems. In response to Roth’s remarks, Cadillac declared that it does not consider Tesla to be a luxury company, even if a number of its goods are priced similarly to some of Cadillac’s. According to a brand spokesperson, Cadillac lists Mercedes-Benz, Audi, and other brands as its main rivals.
According to Roth, there are a few cars in the Tesla inventory that are likely considered luxury, but they still have some intriguing features.
With Tesla leading the U.S. EV market by a significant margin, Cox Automotive reports that last year’s sales of almost 30,000 Cadillac EVs were second only to BMW’s around 51,000 vehicles. Cadillac was also near Mercedes-Benz and Audi. That contrasts with Cox’s estimate that Tesla sold over 633,000 EVs in the U.S. last year.
The automotive industry has always consisted of luxury companies like Cadillac and popular ones like Chevrolet. However, a wide range of car prices are currently available from several companies, such as Tesla and Cadillac.
For example, the Model 3 sedan costs about $42,500, while the Cybertruck and Model S Plaid cost about $100,000. This contrasts with Cadillac’s electric vehicles, which are anticipated to cost between $54,000 for the Optiq and over $150,000 for the Escalade IQ when they become available. Additionally, Cadillac sells a custom car called the Celestiq that costs over $300,000.
According to Kelley Blue Book, the average price of a new electric car at the end of the previous year was $55,544. Consumer EV incentives like the $7,500 federal tax credit are not included in that.
By the end of this year, Cadillac hopes to increase the number of EVs it sells from the current three to five. Although it would put the brand’s number of EVs on par with Tesla’s, Tesla was still predicted to have around 50% of the US EV market last year.
According to Cadillac, the Lyriq-V will have a 285-mile range when completely charged, 615 horsepower, and 650 foot-pounds of torque. It should be able to go from 0 to 60 miles per hour in under 3.3 seconds.
Cadillac’s first production electric vehicle to be part of its performance V-Series portfolio is the Lyriq. With its distinctive badging, improved performance components, and other accessories to increase driving dynamics, the Lyrq-V is essentially the same as the standard model.
With a starting price of $79,995, GM said that the Lyriq-V will be available for purchase in the United States, Canada, and other nations. Production will begin in early 2025 at GM’s Tennessee-based Spring Hill Manufacturing facility.
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