Home » Dealers Already Charging Markups For The 2023 Cadillac Lyriq

Dealers Already Charging Markups For The 2023 Cadillac Lyriq

Dealers Already Charging Markups For The 2023 Cadillac Lyriq

Pricing for the 2023 Cadillac Lyriq Debut Edition starts at a cool $59,990, surprisingly reasonable considering the luxury electric crossover’s premium features and technology. However, current market conditions have introduced a substantial amount of instability into the automotive market thanks to a low-supply, high-demand scenario caused by all various supplier issues. This has, in turn, prompted some dealers to take advantage of the situation and charge well over MSRP for new vehicles, and the Cadillac Lyriq – which has yet to officially launch in the Americas – is already subject to such markups.

For example, a Cadillac dealership in Thousand Oaks, California attempted to squeeze an extra $5,000 from the buyer of a pre-ordered Lyriq, which is presumably a Debut Edition model. The buyer wrote to Cadillac Society about the surprise charge, stating that they were not informed about the additional fee until the dealer received their vehicle allocation. The dealer justifies the upcharge as a “market adjustment,” and states that it is necessary “due to high demand and limited supply” of the Cadillac Lyriq. The buyer, understandably frustrated with the upcharge, indicated that they walked away from the sale. 

This certainly isn’t the first time a dealer has charged well above MSRP in recent memory. Perhaps the most extreme cases of markups on a Cadillac product occur with the Escalade. Dealers have asked for as much as $25,000 to $40,000 over MSRP for the full-size luxury SUV. And earlier this year, Cadillac Society stumbled across a few Cadillac CT5-V Blackwing super sedans with markups as high as $35,000 over MSRP to reflect a “fair market value.”

The “fair market adjustment” prices are so extreme in some cases that Cadillac’s parent company, General Motors, issued a warning to offending dealerships to discourage the practice. The timing of the warning suggested that Cadillac and its parent company, GM, are concerned about dealerships taking advantage of customers interested in the highly sought-after Cadillac Lyriq. So far, this warning seems to have had little effect, so it will be interesting to observe how dealers handle the sale of the all-new electric crossover. 

Want the latest on all things Cadillac as it surges into its all-electric future? Then subscribe to Cadillac Society for Cadillac Lyriq news and to-the-minute Cadillac news coverage. We also invite you to join the latest discussions in our Cadillac forums and Cadillac Lyriq forum.

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Written by
Alexandra is a Colorado-based journalist with a passion for all things involving horsepower, be it automotive or equestrian.

7 Comments

  1. Las vegas cadillac west won’t take orders unless you agree to 5,000 over msrp

    Reply
  2. Mark ups are bad business the dealers are pissing off customers and encouraging them to shop elsewhere. I know that because I have been a loyal Cadillac customer and enthusiast for 42 years, but refuse to pay a markup. So I plan on buying both my CT6 and my XT5 when the leases are up and keeping them until the mark ups go away or I decide to switch brands.

    Reply
  3. I know a Dealer that’s asking $7,000 over MSRP for CT5. I can’t image what they’re asking for a Lyriq.

    Reply
  4. Market adjustment? The dealers need to have an attitude adjustment. Just who are the assholes paying this scam price? I would tell the dealer to stick the car up their ass and then run over to Lincoln to see that they offer.

    Reply
  5. Jim Coleman Cadillac in Bethesda – MD is asking $10k over MSRP.
    They justify it with “we have a large number of customers willing to pay that to have the car earlier… we will then phase down the price and orders will be prioritized accordingly”.

    Reply
  6. This over charge is absolutely ridiculous!!! Who is running The Cadillac division, the Dealers or General Motors!! I have had 3 Cadillacs over the last 6 years , currently I have a XT5, if this keeps up I’ll be looking at other luxury brands for my next vehicle….

    Reply
  7. Those who want the latest gadget or tech will pay more than those of us who wait. So I will wait until 2024 to order a Cadillac Lyriq. I am in no hurry and I know that there will be more after the rush passes. But if the dealer wants a markup I just have to say “No” and walk away. That dealer then has to spend more to sell it, and maybe drpp the price, too. Then I can return later and buy it for less!

    Reply

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