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.
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Comments
Sure, anybody can raise a hand… Here’s the big part… Can GM build this thing… One off’s are easy to talk about.. Do they have any idea about how many chips this thing will take. The average car takes over 125 chips..
With GM having the second most US EV sales, I’m sure they’ll be fine. We’re not talking about Lordstown here. And yes I know about the Bolt fire issue but that was more of an LG Chem Manufacturing issue.
GM sells a pitifully low number of EVs because Bolt and Bolt EUV are 1) lacking in creative, attractive design language & 2) EUV is too small making itself both small and sub par. A base Mustang Mach-E is a far more solid, useful choice and I dislike Ford
Old farm boy stick with chevy trucks
Old farm boy stick with chevy trucks
Orders that actually get converted are all that matters. But this is a nice headline for them to try to run for a while.
what was the count on the finger raisers?
It doesn’t matter how many Hand Raisers there are,, it ONLY matters how many GM will produce because they can sell all of them. Huge Demand for BEV’s…..Do not listen to the FUD from Mainstream Media.
No they can’t. If they made 10 million of them, could they sell them all? 1 million? And keep in mind by then, others are going to start coming into the pool. The Audi ETron is out and is a competitor to name just one. I am very positive on the Lyriq, and I think their methodology is reasonable given what they know. Use existing conversion numbers (Escalade) to estimate production. It is critical you get it right. Estimate too many, discounts needed to move them. Estimate too few, you leave money on the table.
Audi E.T.ron 220 miles
Cadillac Lyriq 300 mile (estimated)
The Cadillac is bigger, faster, goes farther has a nicer interior and smells better too.
When GM (and Tesla) get done with them, the Germans are going wish they stuck to making sausage.
I think the point was they can’t make 10 million of them (at least not in the first couple of years).
They might start to have trouble finding buyers even at 100,000, but it’s unlikely GM could produce that many in the first year even if they had that many orders. Eventually it will matter, but it’s assured it will be supply constrained the first year.
I feel this thing will be a hit. I hope it reaches Escalade level of success.
The main difference here is that the pre sale request will be with in months of production not years like Tesla. They requested these in September and productions set for first of the year.
The Tesla truck presale was a couple years ago and production might be in the next year or two.
The Tesla truck just finally got its first prototypes last month. I predict 2024 at the earliest. When it finally launches, it will be significantly more expensive and less capable than Tesla promised.
I raised my hand with my thumb down.gm stock can’t get out of its own way. March is the end of Q1. Bet it gets pushed back for numerous reasons.
I waited and waited on line only to give up.This was not handled right.Yes Caddillac I woulike like one of the first ones.Thanks you
The only thing confirmed is more shareholder ear tickling from GM.
When did this start being a thing, hand raisers are far from guaranteed sales but once the folks with the marketing degrees agree it must be true.
I am one of those “hand raisers” and I plan to visit a Cadillac dealer in Florida and do a test drive before buying one . None of the dealers near my home has confirmed if they will sell it.
I was a consumer test driver for the GM Impact aka EV1 in 1995.
The car was great and I would have bought one if available then as my needs were perfect at that time.
GM can build this Lyriq and I will be there to consider it. My present lease is up in mid 22.
When it’s available in AWD and gets better than 400 miles in range I might consider it.
wonder if any of these people read the difference in actual operating cost between gas and electric let alone the driving distance. What happens when batteries fail, need replacing and what happens as it gets warm in summer and the cities start brown outs, where you charging these things? Good luck, electric isn’t it.
You must have missed the global memo not to say anything negative about ev’s.
Speak out against ev’s and get cancelled for life.
EV’s use special non toxic batteries that last forever and grow on trees.
And you should be aware that the electricity for charging these, comes from unicorns running rainbow pony mills for free.
Maybe you guys can help me out here. How in the world are we going to charge all these electric vehicles when there is barely enough to sustain our houses. During cold and hot spells our electricity grids are pushed to the maximum. The infrastructure to charge millions of EV vehicles is not in place!!! My neighbour is a top manager for a company in Alberta called Altalink and he said if everyone on our court of 16 houses bought an EV, we would need at least 2 more transformer boxes, possibly 3 more just to provide the power needed for charging. I’ll stick with ICE, but thanks for the offer.
The power company installs transformers as needed, although I suppose it could be managed by the neighborhood. You get the chargers added to the houses and they whichever can update the infrastructure as needed, that is their job. The cool things with EVs is that they are a lot more flexible at home for when they are charged. Some places are better during the day if they have high solar, and other places are better at night. The utilities can tell you the best time of day to charge and overall it makes power distribution more efficient as the EVs flatten the curve and even improves economies of scale. There are also chargers that can talk to each other and adjust the speed so you can get by with less transformers. Most of the time not all 16 will be charging at the same time, and if they did they could cut back the charging rate so as not to overload the circuits. It might take 10 hours to charge a vehicle for 300 miles if it was near empty, but most vehicles are not going to need that many miles all at the same time for as long as they could be plugged in.