The Lyriq currently starts at $62,990 but the brand had announced a price hike up to $70,000 for the 2024 model.
This decision seems to have been reversed, with the base 2024 Lyriq now expected to sell for around $60,000.
This could mean the list of standard equipment will be shortened.
Amid price increases for almost every vehicle on the market, Cadillac announced it will cancel its planned price hike for the 2024 Lyriq in the United States.
At its launch a few months ago, the entry-level Single Motor RWD Lyriq had a starting price of $59,990 but this figure climbed to the current pricing of $62,990 after the first run of the brand’s first electric vehicle had been built.
In addition, Cadillac announced a while back that the Lyriq would become even more expensive for the 2024 model year, with its base price cresting the $70,000 mark.
The company seems to have changed its mind, however, since buyers who want to pre-order a 2024 model have noticed the website saying that the electric SUV will start at “around $60,000”.
This has been confirmed by Cadillac itself, who added that the more expensive AWD Dual-Motor version will be offered at “around $64,000”.
This means that in addition to being cheaper than expected, the 2024 Lyriq could actually be more affordable than the 2023 models.
According to the brand, this move has been done to make the Lyriq more competitive in the market and to better reflect its features and equipment.
Speaking of which, the list of standard features for the 2024 Lyriq has yet to be released and it could have been shortened slightly in order to allow for this lower pricing.
The Lyriq is not only the first electric Cadillac, but it is also the first mainstream vehicle to use the Ultium platform and battery technology that will be found in almost every other EV from General Motors, including the $300,000 flagship Cadillac Celestiq, which should arrive in 2024.
The automaker hasn’t said if this price decrease will also be offered in Canada, where the Lyriq currently starts at $70,597.
Source: Motor Authority