As the luxury marque’s first ever all-electric vehicle, the Cadillac Lyriq has proven attractive to those belonging to either Gen X or Millennials (Gen Y) demographic groups. Beyond that, Cadillac shared a statistic in late 2023 that 40 percent of Lyriq buyers were new to Cadillac. Now, that number has risen, as the overwhelming majority of Lyriq buyers are new to the marque.
In its Q1 2024 sales report for the U.S. market, Cadillac parent company, General Motors, stated that 70 percent of Lyriq buyers are new to the Cadillac brand. The automaker also indicated that 50 percent of Lyriq buyers are new to GM altogether.
As far as sales figures go, the Cadillac Lyriq accounted for 17 percent of all Caddy sales during the first quarter of 2024, making it the luxury marque’s second most-popular nameplate after the Cadillac Escalade.
During the 2023 calendar year, the Cadillac Lyriq sold 9,154 units, slotting in a distant second in the growing D-segment luxury electric crossover segment, despite a 7,203 percent year-over-year growth rate. For comparison, the segment-leading Tesla Model Y sold 385,000 units during the same time period, absolutely obliterating the competition. So even though the Lyriq is succeeding in drawing new buyers to Cadillac, it’s still got a long way to go if it wants to even make a dent in Model Y sales.
| MODEL | YTD 23 / YTD 22 | YTD 23 | YTD 22 | YTD 23 SHARE | YTD 22 SHARE |
|---|---|---|---|---|---|
| TESLA MODEL Y | +66.77% | 385,900 | 231,400 | 94% | 100% |
| CADILLAC LYRIQ | +7,403.28% | 9,154 | 122 | 2% | 0% |
| AUDI Q8 E-TRON | * | 8,180 | 0 | 2% | 0% |
| LEXUS RZ | * | 5,386 | 0 | 1% | 0% |
| JAGUAR I-PACE | +29.44% | 510 | 394 | 0% | 0% |
| TOTAL | +76.41% | 409,130 | 231,916 |
As a reminder, the 2024 Cadillac Lyriq brings several changes and updates to the electric luxury crossover over the 2023 model year, including a restructured trim level lineup that now offers a base trim known as Tech. This model starts at $58,590, while on the other end of the spectrum, the well-equipped Luxury 3 starts at $74,090 and the Lyriq Sport 3 starts at $74,590. Also new for 2024 are a set of overhauled door handles.
Every Lyriq trim can be outfitted with either a single Ultium Drive motor on the rear axle, or a set of Ultium Drive motors to facilitate all-wheel-drive. Opting for rear-wheel-drive grants an approximate driving range of 308 miles from a single charge, along with 340 horsepower and 325 pound-feet of torque. The AWD setup results in 500 horsepower and 450 pound-feet of torque for 307 miles of driving.
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