GM President: Cadillac Lyriq EV Needs to Start below $60,000

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Thread: GM President: Cadillac Lyriq EV Needs to Start below $60,000

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    News Contributor Premium Member EJD1984's Avatar
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    GM President: Cadillac Lyriq EV Needs to Start below $60,000

    GM President: Cadillac Lyriq EV Needs to Start below $60,000
    The first electric Cadillac will go into production in late 2022 using GM’s Ultium battery technology, and some (including us) had estimated a price $20,000 higher.
    Car and Driver
    By Roberto Baldwin
    August 12, 2020

    GM president Steve Carlisle was quoted as saying the 2023 Lyriq can be expected to be priced somewhere in the mid-$50,000 range.

    A sub-$60,000 luxury SUV from Cadillac isn't that surprising if you take a few items into consideration. First, GM is pushing to bring down the cost of its Ultium battery system, wanting to reach price parity with gasoline-powered vehicles.

    Also, California and New York State cap their state incentives for EV purchases at $60,000. California is a huge market for EVs.....
    *Full Article at Link

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    Re: GM President: Cadillac Lyriq EV Needs to Start below $60,000

    Digging the poll at the end of the article(for what polls are worth anyway), 27% say getting it sooner and 73% say getting it cheaper matters most to them.

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    Re: GM President: Cadillac Lyriq EV Needs to Start below $60,000

    That is a good starting price for a Cadillac

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    Re: GM President: Cadillac Lyriq EV Needs to Start below $60,000

    Quote Originally Posted by mbukukanyau View Post
    That is a good starting price for a Cadillac
    Yea that puts it more in line with Model Y prices. Hopefully another surprise can come in the form of a earlier release date.
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    Re: GM President: Cadillac Lyriq EV Needs to Start below $60,000

    Quote Originally Posted by Cobaltss_King View Post
    Yea that puts it more in line with Model Y prices. Hopefully another surprise can come in the form of a earlier release date.
    Top of the range is going to kiss 100K, believe you me, and its going to be worth every penny. Its like the CTS.. started low but the V was over $100K and an absolute steal.

    Do not forget, Unlike most other makers, GM has brands to spread the wealth. HUMMER is going to more than compensate for the batteries, and higher end Cadillacs and Chevrolets like Corvettes will be very pricey... and stupid fast

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    Re: GM President: Cadillac Lyriq EV Needs to Start below $60,000

    I'm thinking this will be like the C8, the high end models generate all the profit and the low end takes a loss. Though I suspect most profitable vehicles are like that anyway.

    I hope GM, in trying to make this profitable, doesn't take away that beautiful interior in order to keep costs down**. I think the new GM gets that is a bad approach, but GM has a long history of cheaping out on the interior, which makes me nervous.


    ** Obviously the low end won't have a production version of the shown pictures, but don't make it awful like bottom end German luxury makes.

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    Re: GM President: Cadillac Lyriq EV Needs to Start below $60,000

    This is the true key to pricing:

    "Also, California and New York State cap their state incentives for EV purchases at $60,000. California is a huge market for EVs....."

    While the $7500 fed tax credit is exhausted, CARB state incentives continue. A savvy GM would price a nicely equipped base Lyric at $59,500 and flood the dealers with them.
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    Re: GM President: Cadillac Lyriq EV Needs to Start below $60,000

    Quote Originally Posted by tripowergto Jan2003 View Post
    This is the true key to pricing:

    "Also, California and New York State cap their state incentives for EV purchases at $60,000. California is a huge market for EVs....."

    While the $7500 fed tax credit is exhausted, CARB state incentives continue. A savvy GM would price a nicely equipped base Lyric at $59,500 and flood the dealers with them.
    and hopefully the 59.9K version is a "NICE" appealing car in its own right as ANY trim increase is a 7500 hit and GM does have a track record of making the basic version SO BASIC as to NOT even be wanted and only a "paper" value

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    Re: GM President: Cadillac Lyriq EV Needs to Start below $60,000

    Quote Originally Posted by richmond2000 View Post
    and hopefully the 59.9K version is a "NICE" appealing car in its own right as ANY trim increase is a 7500 hit and GM does have a track record of making the basic version SO BASIC as to NOT even be wanted and only a "paper" value
    A $59,995 "base" C8 Corvette is a phenomenal overall value. There's no reason GM can't do the same for the Lyric. Even at a loss, you earn your market niche with the base pricing, but most will sell for far higher prices.
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    Re: GM President: Cadillac Lyriq EV Needs to Start below $60,000

    Agreed with above! This is how Lexus got it's foothold on the market. Copy Mercedes in style and price it 10K below and give tons of equipment standard!

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    Re: GM President: Cadillac Lyriq EV Needs to Start below $60,000

    Quote Originally Posted by Ambalanche View Post
    Agreed with above! This is how Lexus got it's foothold on the market. Copy Mercedes in style and price it 10K below and give tons of equipment standard!
    Cadillac should not try to be a Volume brand, like Lexus, Mercedes or BMW, I think they should go for excellence above all else, in price/Value, luxury, technology.. driving dynamics, etc

    You know why?

    GM has other luxury wings, Chevrolet, GMC, Buick and Hummer. These are all brands GM can tune for that Lexus like approach, especially Buick.

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    Re: GM President: Cadillac Lyriq EV Needs to Start below $60,000

    They had better price it for immediate sales success, or their whole EV project, and the company, will be on the ropes. Discounting when sales don't take hold won't cut it for something new like this.

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    Re: GM President: Cadillac Lyriq EV Needs to Start below $60,000

    Quote Originally Posted by ral1960 View Post
    They had better price it for immediate sales success, or their whole EV project, and the company, will be on the ropes. Discounting when sales don't take hold won't cut it for something new like this.
    They have $25 Billion, with a B investment commitment, its a HUGE Gamble for them, it better pay off

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    Re: GM President: Cadillac Lyriq EV Needs to Start below $60,000

    Quote Originally Posted by Ambalanche View Post
    Agreed with above! This is how Lexus got it's foothold on the market. Copy Mercedes in style and price it 10K below and give tons of equipment standard!
    Yeah but Lexus was a brand new/unknown thing when they did that. Cadillac has baggage, so when buyers see that the Cadillac is cheaper their brain doesn't default to "they have something to prove" it defaults to "There's probably a reason why its cheaper"...at this point I really don't know what they can do to improve perception.

    Also we need to get over this fantasy that somehow Buick is a Lexus competitor...I'm tired of reading it to be honest...hell, Cadillac isn't even on Lexus' level and here we are again saying that Cadillac should jump higher and leave Buick to fight Lexus...only thing Buick is fighting is Chevrolet's Premier trim...that's about it.
    Last edited by sdotjeezy; 08-13-2020 at 03:25 PM.
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    Re: GM President: Cadillac Lyriq EV Needs to Start below $60,000

    Quote Originally Posted by EJD1984 View Post
    GM President: Cadillac Lyriq EV Needs to Start below $60,000
    The first electric Cadillac will go into production in late 2022 using GM’s Ultium battery technology, and some (including us) had estimated a price $20,000 higher.
    Car and Driver
    By Roberto Baldwin
    August 12, 2020



    *Full Article at Link
    Will that just under $60k be 1st year only,like the Corvette?
    Last edited by Mr.Buttons; 08-13-2020 at 03:22 PM.

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