The Price is Right
Like the Chevrolet Corvette, the 2023 Cadillac Lyriq will start under $60,000
The Cadillac Lyriq will start at less than $60,000 when it debuts in late 2022 or early 2023, Steve Carlisle, president of General Motors North America, said Wednesday.
Cadillac won't announce official pricing anytime soon, but as the brand transitions to an all-electric portfolio, the Lyriq midsize crossover and other EVs have to be able to replace its current gasoline-powered vehicles, Carlisle said at the JP Morgan Auto Conference.
"We need to be in the same price zone," said Carlisle. "This car will need to be priced similar to how the industry prices midsize lux SUVs today, maybe a slight premium at the outset. It's a price that won't be high five digits. It won't start with a seven and it won't start with a six."
At that price it won't be Cadillac's priciest SUV - that will solidly be the Escalade - but it likely will be its most expensive two-row SUV. It's about the same size as the Cadillac XT5, which starts at near $45,000 and can go higher than $70,000 with all the options boxes checked.
General Motors is going all-in on battery-powered vehicles. The company recently announced a partnership with EVgo that will add 2,700 charging stations to the grid over the next several years. The first of those stations is set to go online next year.
Cadillac isn't the only arm of the Detroit-based automaker that is getting electric vehicles. The company recently outlined what's ahead for each brand. Chevy will have en electric utility vehicle coming to market in the near future and the GMC Hummer EV truck and SUV are well on their way. There are additional vehicles in the pipeline as well.
It was also recently revealed that GM CEO Mary Barra has entertained the idea of changing the company's name to better align it with their vision of the future of mobility.