News

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.

Cadillac Lyriq Photos

NextGEN Gallery

Edit
Delete
Alexandra Purcell

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

Share
Published by

Recent Posts

Updated 2025 Cadillac XT6 Lands In China

We're not aware of any plans to bring the updated XT6 to North America.

18 hours ago

Cadillac CT5-V Blackwing Le Monstre Special Edition Compatible With New Precision Pack

Or, as we like to call it, the Precise Monster.

2 days ago

2026 Cadillac Vistiq Revealed With Three Rows, 615 Horses, 300 Mile Range

Slotting between the Lyriq and Escalade IQ.

2 days ago

Cadillac XT4 To Be Discontinued After 2025 Model Year

A surprising about-face for the luxury marque and its parent, GM.

4 days ago

Cadillac CTS-V Race Car Prototype Sells For $120K

Someone has taken home a piece of automotive racing history.

4 days ago

2025 Cadillac Escalade-V Gets Unique Steering Wheel Features

Two features that set the V's steering wheel apart.

1 week ago