Cadillac, the General Motors-owned luxury brand, has finally initiated the production ramp-up of its Lyriq compact electric SUV as battery supply issues ease. It is apparently part of the brand’s efforts to meet the strong demand for luxury electric vehicles amid the downshift of other types, Reuters reports, citing a senior executive’s remarks on Thursday.
Progress
Cadillac’s production of the all-electric Lyriq suffered from a major delay due to battery module supply issues, pushing it to fall behind its original output targets.
In a significant development, General Motors’ problem in assembling the necessary battery modules started to alleviate.
“It’s been a measured build up and launch as battery modules have become available and, now that we’re in a position with strong inventory, we’re seeing great sales performance.”
Global Vice President John Rot
Cadillac Lyriq’s sales performance
In 2023, Caddilac successfully delivered 9,000 Lyriq units. In the first half of the year, its sales were less than 2,400 units.
Impressively, the Lyriq now contributes 25% of the brand’s overall sales. It indicates an increase from approximately 12% in Q4 2023.
This notable growth in Cadillac Lyriq’s sales is partly due to the growing preference of customers for luxury EVs.
“The luxury industry is I think operating at a little bit of a different level than the main market as it relates to EVs. We still see in the data, 60% of the consumer base, that their next luxury vehicle will be an EV.”
Global Vice President John Rot
Specifications
Presented below are the key specifications of the 2024 Cadillac Lyriq:
| REAR-WHEEL DRIVE | ALL-WHEEL DRIVE | |
| EPA-RATED RANGE | 314 MILES | 307 MILES |
| BATTERY CAPACITY | 102 kWh | 102 kWh |
| POWERTRAIN | 340 HP 255 kW, GM-estimated single-motor | 500 HP 373 kW, GM-estimated dual-motor |
| TORQUE | 325 LB.-FT. 440 Nm, GM-estimated | 450 LB.-FT. |
| TOWING* | – | TOWING* |
Unfortunately, the Cadillac Lyriq was among the electric vehicle models that lost access to the federal tax credits of up to $7,500 in the US due to new sourcing requirements. In order to offset the disqualification, parent company GM is currently providing $7.500 in incentives. It also assured interested buyers that the all-electric LyriQ would qualify again for the tax credits early in 2024, potentially aiding the brand’s target to go full electric by 2030.
