The all-new Cadillac Lyriq made landfall in China back in June 2022, and while it’s not uncommon for a vehicle’s price to increase with time, the opposite is true for the Lyriq, as its price in the Asian country has recently been reduced.
The Cadillac Lyriq now carries a starting MSRP of 379,700 yuan (approximately $52,660 USD), down 13.6 percent from its initial starting price, which was 439,700 ($60,980 USD). Additionally, buyers who place a deposit before August 31st, 2023 are eligible for a $2,500 discount.
This decision comes in the wake of a rather disappointing first quarter in terms of Cadillac sales in China. The luxury marque experienced a 31 percent downturn in sales volume in the Asian country during the first three months of 2023, delivering 32,500 units. In fact, Cadillac is the latest automaker to slash its prices in China in order to remain competitive, following a lead set by Tesla earlier this year.
As a reminder, the Chinese-market Lyriq RWD model harness a single motor that provides 342 horsepower and 325 pound-feet of torque for a driving range of 653 kilometers (405 miles) on a full charge. Meanwhile, the Lyriq AWD model is powered by two motors that produce a combined 503 horsepower and 524 pound-feet of torque, with a driving range of608 km (378 miles) from a full charge.
Under the skin, the Lyriq rides on the BEV3 platform. Models destined for North American see motivation delivered via Ultium batteries and Ultium Drive motors. However, the Chinese-market model uses a different type of battery, opting for cylindrical cells rather than pouch-style equivalents. In China, the Lyriq is offered in the base Luxury trim, while the higher-level trims are called Prestige; the trim level structure deviates from the Tech, Premium Luxury, and Sport hierarchy seen in North America. Production of the Chinese Lyriq takes place at the Cadillac Jinqiao plant.
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