A new report suggests Cadillac is penciling in a price increase for the 2025 Cadillac Lyriq with the EV also rumored to get a high-performance V model for thrill seekers who want more speed in their SUV purchase.
Lyriq buyers may see a price increase for 2025 according to a new report.
The Cadillac Lyriq EV spearheaded Cadillac’s push into the EV market several years ago and while it has since been joined by the Celstiq hyper-luxury car, the Lyriq is still the only mainstream Cadillac EV available for buyers to purchase as it continues to bring the fight to rivals like Tesla.
With the smaller Cadillac Optiq coming into the market soon, a new report suggests that the brand will respond by increasing prices for the Lyriq while also using the opportunity to launch an all-new V model to allow the CUV to fight in the performance EV market while also cementing it’s role in Cadillac’s growing EV family.
Price increase possibly coming
The report from the folks at Cadillac Society appears to suggest that a shift is coming in the way Cadillac is selling the Lyriq after 2024. Last year, Cadillac introduced a new Tech trim on the 2024 model which started at $58,590 and was a decent value when you consider the equipment that the Tech trim brought to buyers. However, the report suggests that this trim will not be present for 2025 to help the Lyriq stand out more from the Optiq while also cutting costs too.
Cadillac for its part has not commented on the authenticity of the report but if everything checks out, buyers would now only have access to the Luxury and Sport models which currently start at $62,290 and $63,190 respectively. The alleged move will also help Cadillac avoid sales cannibalization between the Lyriq and the Optiq since the revised base model Lyirq would have a greater gap in price between it and the Optiq which would avoid overlapping. This overlapping would help blunt sales for both models and that’s something Cadillac doesn’t need when it’s trying so hard to make both models a viable part of its sales strategy.
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Lyriq-V reportedly coming soon
The 2025 Cadillac Optiq will be the new entry-level EV and the Lyriq’s revised pricing ladder would provide room for a new Lyriq-V model.
In addition to realigning the Lyriq trim ladder, the elimination of the base Lyriq would allow room for the arrival of a new Lyriq-V model. Cadillac hinted at its existence back in April and the V would be the new top dog in the Lyriq pecking order. However, the same leak also revealed that it would have the same 500 hp powertrain as a standard all-wheel drive Lyriq which might disappoint some who wanted the V to go all out in its quest for performance.
This refined pecking order will be key for Cadillac as it continues to explore ways to make the Lyriq more profitable as the current generation model goes through its production run. With the Optiq, Escalade IQ, and the Vistiq all eventually making their way to showrooms in the future, the Lyriq will have to reach into its figurative bag of tricks to stand out from its newer peers while also maintaining some of the unique appeal that has drawn customers in time and time again.
GM markering wizards think people will equate high prices to quality, and some will I’m sure.
But remember, they are Chevys with a different hood and trunk.