Interest in the all-electric Cadillac Lyriq has been growing since its introduction. In fact, the Lyriq has become one of Caddy’s fastest movers, especially on the West Coast, where the electric luxury crossover is outselling the iconic Cadillac Escalade.
During the most recent Investor Day presentation, General Motors President Mark Reuss indicated that the Lyriq is selling very well on the West Coast. Los Angeles is the leading city for Cadillac Lyriq sales, followed closely by New York City on the other side of the continental U.S.
“Lyriq, as you might expect, is helping drive our coastal growth. It’s our top-selling Cadillac in the west region, ahead of Escalade, and also, California is the No. 1 state for Lyriq sales,” said Reuss. “Los Angeles is the No. 1 city and New York City is No. 2 for Lyriq. Finally, the Lyriq is outselling all luxury EVs from the European luxury brands of BMW, Mercedes-Benz and Audi nationwide. Big statement.”
While the Lyriq is selling well on the West Coast, some catching up to do if it’s going to dethrone the Escalade as luxury marque’s best-selling nameplate, although not as much as one might think. During Q2 2024 in the U.S., the Cadillac Lyriq moved 7,294 units and placed second in its competitive segment. By comparison, the Escalade sold 10,069 units in the same time period, vastly outperforming its direct competition. However, it’s certainly noteworthy that fewer than 3,000 units separate the Lyriq and the Escalade in terms of overall U.S. sales.
It’s also work noting that 60 percent of GM electric vehicle buyers live on either coast, and that 60 to 67 percent buyers are trading in non-GM vehicles for their GM EVs. Comparatively, 43 to 46 percent are trading in internal combustion engine (ICE) powered GM vehicles, meaning that GM EVs boast a high conquest rate from rival manufacturers. A look at Cadillac Lyriq sales reveals that 40 percent of its buyers are from outside the brand, a statistic that is likely bolstered by the luxury marque’s aggressive conquest incentive strategy from recent months.
