The 2024 Lyriq will now be eligible for the full $7,500 clean vehicles federal tax credit in the United States.
Three new trim levels will now be offered, one of which is a more basic version.
The Lyriq will also offer four new paint colours.
The Cadillac Lyriq will receive a few modifications for the 2024 model year in order to stay competitive in the face of massive price cuts at Tesla.
Earlier this week, the US government announced that its guidelines for vehicle classification had been revised in order to allow some electric SUVs that were previously considered sedans to qualify for the clean vehicles tax credit.
By more or less removing $7,500 from the price tag, this would have made the Lyriq more competitive versus the Tesla Model Y, except that it too benefitted from the same reclassification, and is thus also $7,500 cheaper than before.
In order to address this, Cadillac decided to create three trim levels for the 2024 Lyriq, including an entry-level model that will shed a few thousand from the 2023 starting price.
This new version called Tech will retail in the United States from $58,590 but it will forgo a number of features that buyers might expect in a luxury EV, such as a heated steering wheel, a power-adjustable steering column, an auto-dimming rear-view mirror, and rain-sensing wipers.
The mid-level Luxury version will offer the same equipment as the 2023 base model, which includes a 26-colour ambient lighting system, PaperWood interior décor, and lighting choreography upon the driver’s approach. This version will be priced at $62,690, which is $300 less than the 2023 version.
The most expensive trim level for the 2024 Lyriq will be the $74,590 Sport 3 AWD which will add sporty items that show a more dynamic appearance such as dark accents, a unique front fascia, and 20-inch diamond-cut alloy wheels.
Other changes will include four new paint colours for a total of eight available hues as well as a slight reduction of range for the rear-wheel drive version, which will be able to drive 308 miles (496 kilometres) on a charge instead of 312 miles (502 kilometres) for the 2023 model.