General Motors has had around 216,000 people register interest in the Cadillac Lyriq since the production version of the vehicle first debuted earlier this year.
During a recent Q&A session with the media, Global Vice-President of Cadillac, Rory Harvey confirmed the automaker so far has around 216,000 “hand raisers,” for the Cadillac Lyriq. A “hand raiser,” by Cadillac’s definition, is someone who has registered interest in the vehicle at a dealer or through the automaker’s website by signing up to receive email updates.
“This is not a commitment to buy a vehicle,” Harvey said of the so-called hand raisers. “This is basically somebody that says ‘I’m interested in the Lyriq, I would like to get details on the Lyriq, I would like to be kept informed in terms of the Lyriq’, etc.”
Harvey went on to use the Cadillac Escalade as an example of how many hand raisers it typically converts to paying customers. He said that for the new Escalade, it observed around a “20 to 30 percent conversion rate on hand raisers.”
Harvey also said the brand would be happy with a 20 percent conversion rate on the Cadillac Lyriq – which would be slightly above its actual expectations for the vehicle, as many of these hand raisers are simply curious about the vehicle due to it being the first battery-electric Cadillac product.
“We don’t necessarily have data in terms of, is this going to hit our historical conversion rates that we get on ICE, or isn’t it,” he said. “Let’s just say for example that it’s 20 percent. If we get a 20 percent conversion rate, that means there are 40,000 [buyers]. I personally think it’ll be slightly less than that, because I think there are a lot of people that are speculating at the moment.”
Cadillac set itself an objective of amassing 200,000 hand raisers for the Lyriq following its launch. The company has far surpassed this, receiving roughly 216,000 with still 4-5 months to go before the vehicle’s early 2022 launch.
The 2023 Cadillac Lyriq will enter production at the GM Spring Hill Assembly plant in Tennessee next March. The vehicle will at first be offered as a well-equipped Debut Edition, which will come standard with a 100.4 kWh Ultium lithium-ion battery pack and a single Ultium Drive electric motor mounted on the rear axle producing a GM-estimated 340 horsepower and 325 pound-feet of torque.
Pricing for the 2023 Cadillac Lyriq starts at $59,990 in the U.S., including destination and freight.