Cadillac, the renowned luxury automobile manufacturer, has recently released its sales figures for the second quarter of 2023 in the United States. The report reveals a significant increase in vehicle deliveries, demonstrating the brand’s continued success in the market. With 38,877 units sold during this period, Cadillac experienced a remarkable 15 percent growth compared to the same quarter of the previous year. Additionally, the year-to-date sales surpassed expectations, reaching a total of 75,198 vehicles, reflecting a substantial 21 percent increase year-over-year.
Notably, Cadillac’s all-electric car lineup has made considerable strides, with the Lyriq model spearheading the brand’s success in this segment. During Q2 2023, Cadillac delivered an impressive 1,348 units of the Lyriq, marking the highest quarterly sales result to date. While these figures may not seem exceptionally high in comparison to the previous four quarters, it is important to consider the ongoing ramp-up phase of the model’s production.
An encouraging trend within Cadillac’s sales performance is the growing share of the Lyriq in the brand’s overall volume. In Q2, the Lyriq accounted for 3.5 percent of Cadillac’s total sales, up from 2.7 percent in Q1. This development signifies the brand’s increasing commitment to electrification and its successful integration of all-electric vehicles into its product portfolio.
Looking specifically at the sales figures for the Cadillac Lyriq, the model has already exceeded 2,300 units sold year-to-date, constituting 3.1 percent of the brand’s total sales. Cumulatively, the Lyriq has surpassed 2,400 units sold, indicating a growing demand and popularity among consumers.
The future of Cadillac’s all-electric lineup appears promising, with expectations of continued growth in production at the Spring Hill Assembly facility in Tennessee. The success of this endeavor relies heavily on a steady supply of lithium-ion batteries from the Ultium Cells joint venture between GM and LG Energy Solution, located in Warren, Ohio. To meet the increasing demand, GM has announced additional investments in the factory, aiming to boost battery production to an impressive 50 gigawatt-hours (GWh) annually.
The Cadillac Lyriq stands out in the premium segment due to its exceptional specifications and competitive pricing. All variants of the model offer an impressive EPA Combined range of over 300 miles, while the starting price for the 2024 model year version is set at an MSRP of $57,195 (excluding a $1,395 destination charge). Moreover, customers can potentially benefit from a $7,500 federal tax credit, effectively bringing down the cost to slightly over $51,000.
In addition to the Lyriq, Cadillac has exciting plans for other all-electric models in its lineup. The Celestiq, which was spotted camouflaged during road testing in Summer 2022, is slated for market launch later this year. Furthermore, the brand has scheduled the reveal of the all-new Cadillac Escalade IQ on August 9, 2023, with spy photos and intriguing renderings already generating anticipation among enthusiasts.
With its sights set on the future, Cadillac is steadily progressing towards becoming a fully electrified brand, joining the ranks of other luxury and premium automakers embracing the electric revolution.
