In recent news, the Environmental Protection Agency (EPA) has encountered delays in releasing the official ratings for the Cadillac Lyriq. The eagerly awaited ratings for the 2023 model, particularly the all-wheel drive (AWD) variant, were only recently made public. Adding to the confusion, Cadillac has already commenced the sale of 2024 model year vehicles. However, the limited supply of these vehicles coupled with high demand has contributed to the scarcity.
Similar to the initial batch of Cadillac Lyriq released in 2022, there are only minimal differences in the range between the rear-wheel drive (RWD) and AWD models. The AWD version has been rated with a total range of 307 miles (494 km), slightly lower than the 312 miles (502 km) achieved by the RWD variant. In comparison to the 2022 models, the AWD range has remained the same, while the RWD model has seen a 4-mile increase.
Adding to the complexity, the expected EPA rating for the 2024 Cadillac Lyriq further confuses the situation. The AWD version is expected to retain its 307-mile rating, while the RWD vehicle’s rating is projected to decrease to 308 miles. Interestingly, this is exactly what the 2022 Lyriq achieved.
Electric vehicles (EVs) are constantly undergoing development, and with the introduction of over-the-air (OTA) updates, engineers are continuously working on efficiency improvements and addressing software-related issues. Factors such as different tire options in a given year or variations in standard equipment between model years can influence the ratings. Hence, the EPA reevaluates and rates vehicles annually.
Regarding pricing, Cadillac has refrained from engaging in recent EV market fluctuations. The Lyriq is available at the same prices as last year’s release, but what makes it particularly appealing is its eligibility for the full $7,500 tax credit. Consequently, the effective price of the AWD version is $54,590, which is $35,000 less than the comparable Mercedes EQE SUV 500 4MATIC. Such a significant difference in price makes the Cadillac Lyriq an enticing proposition.
However, the main issue plaguing the Cadillac Lyriq is its limited supply. In the first quarter of this year alone, Cadillac managed to deliver a mere 968 vehicles to customers. With the demand soaring, it will likely take several years to clear the order backlog. Nevertheless, General Motors (GM) has made assurances that it will increase production to address this supply shortage.
