Heading into its second model year as the luxury marque’s first all-electric vehicle, the 2024 Cadillac Lyriq will see minor changes, including an expanded trim level lineup. In fact, the 2024 model year of the electric luxury crossover will be less expensive than its 2023 model year predecessor.
The base 2024 Cadillac Lyriq RWD will start at approximately $60,000, while the Lyriq AWD will start at around $64,000. For comparison, as previously reported by Cadillac Society, pricing for the the 2023 Lyriq RWD starts at $62,990, while the 2023 Lyriq AWD starts at $64,990. In short, the forthcoming Lyriq RWD will have a starting price that’s $3,000 less that that of its immediate predecessor, while the better-equipped Lyriq AWD will drop almost $1,000 from its overall price.
Interestingly, we recently found out that the Cadillac Lyriq is one of the EVs not eligible for the Federal EV tax credit. That’s because the U.S. Treasury classified the luxury electric crossover as a passenger vehicle, not a utility vehicle, meaning that its retail price cannot exceed $55,000 in order to qualify for the $7,500 federal tax credit. Cadillac’s parent company, General Motors, has stated that it is displeased with this decision and is addressing its concerns with the U.S. Treasury on the matter.
As a reminder, the Lyriq rides on the luxury marque’s BEV3 platform, and is assembled at the Spring Hill plant in Tennessee for all markets except for China. It is offered with a choice of two powertrains. The base single-motor setup features one Ultium motor mounted on the rear axle, lending 340 horsepower and 325 pound-feet of torque for an estimated 312 miles of driving range from a full charge. The second is is a dual-motor Performance AWD setup that produces over 500 horsepower.
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