2023 Cadillac lyriq peak production and 2024 Cadillac Lyriq price dropped. Here's Why.
Geopolitical Analyst Geopolitical Analyst
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 Published On Dec 26, 2022

Cadillac lyriq is beginning to gain customers approval as deliveries have began ramping up rapidly, with the latest surge of deliveries in October 2022.




In October 2022, the 2023 Cadillac Lyriq reached a significant production milestone. With 2,000 units built during that month, the Lyriq has produced more units in 2022 than the GMC Hummer EV Pickup.


GM produced 2,000 2023 Cadillac Lyriqs at its GM Spring Hill plant in Tennessee in October 2022. This means that the October 2022 production represents nearly 54 percent of all Lyriq units built since the luxury crossover's production began in March 2022 and has resulted in a grand total of 3,715 units produced as of October 31st.


The Cadillac Lyriq outsold the Hummer EV Pickup for the fourth month in a row in October 2022. This is because GM prefers Cadillac Lyriq production over Hummer EV production, with Lyriq production ramping up at the expense of GMC Hummer EV Pickup production.


The most likely explanation for this inverse relationship was GM's limited stock of Ultium battery cells, with more resources dedicated to the Cadillac. It's also worth noting that Hummer EV production was halted for a month while the GM Factory Zero plant was upgraded to build future products like the Chevy Silverado EV and GMC Sierra EV.


Notably, the BrightDrop Zevo 600 delivery van, which also uses GM Ultium batteries, is not included in the above table.


Battery pack supply is increasing as a result of the opening of the first Ultium Cells plant in Ohio. As a result, more Cadillac Lyriqs were produced in October 2022 than in any previous month. This increase in output is timely, as pre-orders for the 2023 Cadillac Lyriq are completely sold out, forcing GM to extend the waitlist to the 2024 model year.


As previously stated, the 2023 Cadillac Lyriq is powered by GM Ultium batteries and GM Ultium Drive motors, while the all-electric crossover is built on the GM BEV3 platform.


Cadillac will reduce the base price of the 2024 Lyriq RWD to "around 60,000 dollars."

That compares to a starting MSRP of 62,990 dollars for the 2023 Lyriq RWD, which will likely have less content.


We're so used to electric vehicles becoming more expensive with each new model year — and even in between model years — that we're always skeptical when an automaker announces a price reduction.



Cadillac appears to have one planned for the 2024 Lyriq, despite previously indicating that it would implement a price increase for the new model year. The starting price for the 2024 Cadillac Lyriq on the automaker's customer website is "around 60,000 dollars." (excluding the destination charge).


That's nearly three grand less than the base price of the 2023 Lyriq, which is currently listed as sold out on Cadillac's website. The pricing corresponds to the base rear-wheel-drive trim in both cases and includes the destination charge (1,195 dollars for the 2023 model).


Prices for the all-wheel-drive 2024 Cadillac Lyriq begin "around 64,000 dollars," which is also a lower starting MSRP than the 64,990 dollars for the 2023 model. Let's hope that "around" Cadillac means a small difference of up to 100 dollars upwards or downwards.


Before you get too excited, keep in mind that the revised pricing includes a trade-off in terms of standard equipment. Cadillac spokeswoman Paige Tatulli told Motor Authority that the company "adjusted the pricing to reflect the vehicle's content."


She didn't go into detail, but it's reasonable to assume Cadillac removed some standard features to achieve the lower price; we'll just have to wait for the automaker to reveal which ones will be removed.


The price cut is an interesting development given that Cadillac was previously planning to raise the base price of the 2024 Lyriq RWD model to around 70,000 dollars. 


Cadillac launched sales of the Lyriq in May 2022, with the RWD Debut Edition model starting at 59,900 dollars. That was a special price for the launch edition model, which Cadillac claimed sold out in 10 minutes—though the number of RWD Debut Edition units was not disclosed.


We don't expect the specifications of the 2024 Lyriq to differ from those of the 2023 model. The base RWD model has a rear-mounted motor that produces 340 horsepower (253 kilowatts) and 325 pound-feet (440 Newton-meters) of torque, while the AWD model has a dual-motor powertrain that produces 500 horsepower (372 kiloWatts) and 450 pound-feet (610 Newton meters).


Both models are powered by a 100-kiloWatts-hour battery with an EPA-estimated range of 312 miles (502 kilometers) for the RWD model—the all-wheel-drive Lyriq's EPA range has yet to be announced. The Cadillac Lyriq 2024 is now available for preorder, with production set to begin in spring 2023.

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