In a move that is sure to captivate electric vehicle enthusiasts, the Cadillac Lyriq has emerged as a standout contender in the EV market. Prospective buyers in the United States can now revel in the announcement of an alluring lease opportunity tailored to their interests.
A recent bulletin dispatched to Cadillac dealers has disclosed a remarkable development: lease prices for the Lyriq have been substantially slashed by $7,500, courtesy of a newly instituted ‘residual value lease support' initiative available through GM Financial. It is noteworthy, however, that this attractive discount is underpinned by an adjustment in Lyriq's residual values, a strategic maneuver by Cadillac.
Elevating its allure, the Cadillac Lyriq now presents an enticing proposition whether customers choose to purchase or lease. With its production grounded in the U.S., those inclined towards an outright purchase are eligible for a noteworthy $7,500 federal EV tax credit. Notably, the Lyriq previously did not extend the same $7,500 lease cash offer as its competitors, but that paradigm has now shifted. Automotive analysts at Cars Direct point out that prior to this lease incentive, the Lyriq was available for lease at $959 per month for a 36-month period, requiring an additional upfront payment of $4,969.
Beneath the sophisticated exterior of every Cadillac Lyriq model resides a formidable 102 kWh lithium-ion battery pack, propelling an electric motor at the rear axle. In its standard configuration, the Lyriq generates 340 horsepower and 325 lb-ft (440 Nm) of torque. For those yearning for heightened performance, an all-wheel drive variant is on offer, boasting an impressive 503 horsepower and 524 lb-ft (710 Nm) of torque. Enhancements introduced in February for the 2024 model year have resulted in a range of 308 miles (495 km) for the rear-wheel drive iteration, a minor decrease from its earlier 312-mile (502 km) capacity. Similarly, the all-wheel drive version boasts a range of 307 miles (494 km).
Distinguished by its sophistication, the 2024 Cadillac Lyriq is available in three distinct configurations: Tech, Luxury, and Sport. This impressive offering caters to a spectrum of preferences, ensuring that the Lyriq remains a prominent contender in the ever-evolving EV landscape.