As you probably know, even though Mary Barra promised GM would be SAILING ahead of Tesla in EV sales, Cadillac Lyriq sales are not lighting up the sale charts.
We don't have enough time to go into all the problems of why but this story I saw on the socials speaks volumes...
"I placed a reservation for Cadillac Lyriq back in May of 2022. Car’s was produced on August 11, 2023. Car was on quality and engineering hold until Dec 16, 2023. Then the logistic issue prevented transport until Jan 7, 2024. It finally arrived at my dealer in on January 15, 2024.
Meanwhile, for this $71,500 MSRP luxury 2 AWD model, even with $5,000 cash rebate for reservation holders to absorb the MSRP hike from 2023MY to 2024MY, with $7,500 residual bump in lieu of IRA tax credit, with $1,000 Costco member rebate, and with $2,500 GM employee friends&family discount rebate. 36 months 36k miles lease came out just over $1,000/mo include 7.75% sales tax.
As of today, with exact same up front cost and terms, I got a standing offer from local dealers, $115K MSRP BMW i7 lease would be about $920/mo, or $78,500 MSRP Audi q8 e-tron for $655/mo, or $82,195 Mercedes EQE 350 4matic SUV for $702/mo, or $91,250 BMW ix 50 for $765/mo, or $112,790 MSRP Mercedes EQS 450 SUV for $935/mo
I would love to enjoy fantastic Supercruise and elegant look of Lyriq but the numbers simply doesn’t make any sense at all. I can still purchase it for around $56K + tax which makes some sense especially using it as company car so I can do section179 depreciation thanks to over 6,000lbs GVWR but future depreciation (residual) again puts out of sense.
Plus, I already have two friends who purchased Lyriq prior (lucky 2023MY debut edition owners) who are going through the lemon law buyback process. Some build/engineering quality of this car reminds me of the Tesla Model X, circa 2017."
There you have it Spies. A customer who REALLY wanted it, but in the 2024 climate, it's a no can do.
So tell us this. Will Cadillac figure out a way to compete or will the Lyriq end up next to the ELR as ANOTHER GM fail? BTW, we were the ONLY mainstream car site, that predicted this. No Youtube influencer, no magazine, print or online, no TikToker or Twiiter 'expert' saw this coming.
SPY before you buy. Or it could cost you. A LOT!