Cadillac reverses Lyriq price hike in 2024

It’s rare in this timeline, but Cadillac has made the Lyriq less expensive than originally stated for the 2024 model year.

At the launch of the 2023 Cadillac Lyriq, automaker spokespersons told the Motor Authority that the model’s price would increase from $62,990, including destination, to approximately $70,000 for a 2024 single-engine, rear-wheel-drive model . That is no longer the case.

Cadillac is now taking pre-orders for the 2024 Lyriq, and the single-engine, rear-wheel-drive model is expected to start at “about $60,000,” according to the consumer website and to be confirmed by a Cadillac spokesman. Pre-orders for the 2024 all-wheel-drive dual-motor model are slated to start at “around $64,000.” This would mean that not only won’t the price go up to $70,000 for the 2024 model year, but it looks like it will actually be below the 2023 price.

Deliveries of both models are scheduled to begin in spring 2023.

Cadillac Lyriq production begins at General Motors' Spring Hill Manufacturing plant

Cadillac Lyriq production begins at General Motors’ Spring Hill Manufacturing plant

Cadillac spokeswoman Paige Tatulli told Motor Authority, “We have adjusted the pricing to reflect the content of the vehicle. All to make it more affordable for the segment.” The standard and optional features, specs and colors for the Lyriq 2024 have not yet been released, but a price drop likely means fewer features.

The 2023 Lyriq initially cost $59,990 including destination. Back then, it came standard with leather upholstery, a panoramic glass roof, electric functions, a power tailgate, a 33-inch digital display on the dashboard, and wireless Apple CarPlay and Android Auto.

After Lyriqs’ first run, the price for the same vehicle increased to the current $62,990 including destination. Options include an AKG audio system with 19 speakers and active noise cancellation, 22-inch alloy wheels, Super Cruise and paint colors such as blue, gray, white or black.

The Lyriq is the first battery-electric Cadillac. Editor-in-Chief Marty Padgett said the Lyriq is aligned with the brand’s battery-powered future.

Cadillac is building the Lyriq on its third-generation electric drive and battery toolset known as the Ultium. Ultium is the basis for all future General Motors electric vehicles, and the new Cadillac is the first low-volume, mass-market application outside of the 2022 GMC Hummer EV.

General Motors told Cadillac dealers to either jump into its electric future, which requires expensive upgrades for dealers, or stay out of the way as they roll into the electric age. More than a third of Cadillac dealers have bet on the future of the brand.

Four other electric vehicles alongside the Lyriq will arrive at Cadillac dealerships that have elected to invest, including the flagship Celestiq, which will cost more than $300,000 when it goes on sale in 2024.

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