Wednesday, June 19, 2024
NewsThe Lyriq is Bringing Younger Buyers to Cadillac

The Lyriq is Bringing Younger Buyers to Cadillac

Could Cadillac have finally found the secret to appeal to younger buyers?

  • For many years, Cadillac has tried to let go of its old people’s car image

  • 70% of the people having ordered a Lyriq have never owned a Cadillac before

  • 68% of them are between 27 and 57 years old

Cadillac might have finally found the secret to appeal to younger buyers with the Lyriq, since 68% of those who have ordered one are less than 58 years old.

The American luxury brand has long been associated with older buyers and despite its efforts to reach younger audiences, as evidenced by the V branded sports models and the sportier attitude of its sedans, this is still true today, with the brand having the oldest average buyers in the whole industry.

The introduction of the Lyriq is an important milestone for Cadillac, since it is its first electric vehicle ever, but also because it might signal the first time in decades when many affluent younger buyers might consider the brand.

According to Cadillac, the Lyriq is bringing in new buyers that are much younger than what they are used to. Indeed, 70% of the people having ordered a Lyriq are new to the brand and 68% of them are either Gen X or Millennials.

This means that 68% of orders are filed by individuals aged between 27 and 57. The fact that the Lyriq is electric surely has a lot to do with this, since older buyers are often more reluctant to switch to an EV, but the futuristic styling of the luxury SUV also has a part to play.

In addition, the fact that so many buyers are on the younger side is even more impressive when considering the total number of orders. Indeed, the Debut Edition of the Lyriq sold out in under 20 minutes back in September and the entire order book for 2023 has already been filed, less than 24 hours after its opening.

It will be interesting to see if this trend continues with the Celestiq and the other new Cadillac products that are expected in the next few years. If the brand is capable of appealing to the same public as the Lyriq with those other offerings, its future will be much brighter than it has been for a long time.


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