The Cadillac Lyriq is one of two Cadillac vehicles to win the J.D. Power 2023 Canada ALG Residual Value Award for the 2023 model year, alongside the Cadillac CT5, which was ranked best in the Premium Midsize segment.
Automotive resale value has become important to consumers in recent years. The ALG Residual Value Award marks the 2023 Cadillac Lyriq as the vehicle in its segment most likely to keep the highest percentage of MSRP as resale value. As winner of the Premium Electric segment, ALG expects it to be the best among the contenders at retaining original value over three years.
ALG, J.D. Power’s automotive residual value division, evaluates “used-vehicle performance, brand outlook and product competitiveness” using analyst predictions, and crunches sales data with advanced algorithms and AI, to determine the winners.
Per the firm’s press release, it analyzed 272 model lines from the 2023 model year to determine the top 15 brands in 29 segments. ALG picks the premium vehicles it determines are most likely to keep maximum residual value over three years, or mass-market vehicles likely to have the best four-year resale value performance. The award is used as a guide to probable value by the car leasing industry and other automotive sectors.
As in the U.S., the 2023 Cadillac Lyriq is available in Canada with either a rear-wheel drivetrain or AWD. According to Natural Resources Canada, the Lyriq AWD offers an estimated range-per-charge of 494 kilometers, or 307 miles.
Release of the 2024 Cadillac Lyriq is approaching rapidly. GM plans to stop production of the 2023 Cadillac Lyriq on March 17th, 2023, with 2024 Lyriq start of regular production (SORP) scheduled for March 20th, 2023.
The new model year will feature five new paint colors out of the eight available, and will offer a Nappa Leather Package (RPO code PCH) for the Luxury 3 (1SE Equipment Group) and Sport 3 (1SK Equipment Group) trims.