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Cadillac Lyriq Average Transaction Price Up 6 Percent In Q4 2023

Serving as Cadillac‘s first entry into the fully electric vehicle market space, the Cadillac Lyriq is an important stepping stone towards General Motors’ EV future. Now, the average transaction price of Caddy’s luxury crossover jumped more than six percent over the course of Q4 2023.

According to a report from Cox Automotive, the Cadillac Lyriq saw a 6.1-percent average transaction price rise to $68,180 from Q4 2022 figures, making by far the highest jump in average transaction prices of any Cadillac product. Meanwhile, sales exploded 4,441 percent from 86 to 3,820 units during the same timeframe.

Side profile of Cadillac Lyriq.

As for what may have caused this ATP increase, greater availability of higher-priced trim levels – including the Luxury 2, Sport 2, Luxury 3 and Sport 3 – could have served to drag transaction prices north.

It’s worth noting that sales of the luxury marque dropped seven percent to 36,378 units in Q4 2023, while overall General Motors sales stood at a 0.2 percent gain to 619,684 units.

As a reminder, the 2024 Cadillac Lyriq saw the introduction of a few notable features, including the all-new entry-level Tech trim with a starting price of $58,590, the new power panoramic dual-panel sunroof (RPO code CAJ), along with new paint colors and interior colorways.

In regard to powertrain specifications, the Lyriq RWD boasts a single motor mounted on the rear axle, developing 340 horsepower and 325 pound-feet of torque. Meanwhile, the Lyriq AWD is equipped with a pair of electric motors – one on each axle – producing a combined 500 horsepower and 450 pound-feet of torque. Both configurations feature GM Ultium battery tech and GM Ultium Drive motors.

As for range figures, the RWD version boasts 314 miles on a full charge, while the AWD variant features 307 miles from a full charge.

Under the skin, the Cadillac Lyriq rides on the GM BEV3 platform, while the 2024 model year kicked off production at the GM Spring Hill plant in May 2023.

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As a typical Florida Man, Trey is a certified GM nutjob who's obsessed with anything and everything Corvette-related.

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Comments

  1. My local dealer is discounting them over $10K. What a joke.

    Reply
  2. It’s selling about the same as the CT4 (9100 for both last year) and better than the CT6 did in its last 2 years ( 8K and 3K respectively).

    Reply
    1. I think a lot of people here don’t get this. The Lyriq wasn’t available for most of last year in any quantity. There’s a good chance it will be second in Cadillac’s portfolio this year. Only the Escalade will sell more.

      Reply
  3. just another misleading marketing ploy. Lyriq’s weren’t delivered in any quantity until 2023, so the jump in sales of 4,441% is true, but misleading as just 86 in Q4 2022. as to transaction price, the debut was a lower cost, so those being sold after that are at a higher list, even of discounted.
    Need to read behind the headlines to understand….any media postings

    Reply
  4. Yes that’s totally correct…. I bought a 2023 Lyriq LUXURY and went through the growing pains with this model simply because it was so well equipped and low-cost compared to an equivalent 2024, which is at least $8,000 more pricey to get a roughly equivalent model. I don’t need the gobbledygook, but it will add desirability come resale time.

    I like the TECH basically stripped 2024, however for me to buy a new GM in the future will require the 5G facility be disabled.
    I did buy a new GM in 2024, but it was a rare brand new left over 2023 BOLT EV – which was an UNBELIEVABLE value compared to the 2017 BOLT EV I had years ago. Very UN-GM-LIKE to keep all the great things about the 2017, like a reliable motor, and super beefy gearbox (better than a pricey Tesla ‘S’).

    Reply
  5. Some dealers are discounting 11,500 = 4k + 7500 that GM threw in that did not qualify. The question is where did that 4k come from?

    Reply
    1. Difference between MSRP and Invoice.

      Reply

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