The Cadillac Lyriq has finally entered the market as the brand officially confirmed its 36 first deliveries during the third quarter of 2022.
It's good news for the EV market and very good news for Cadillac itself, as it creates a huge growth opportunity.
GM's luxury arm sold a total of 33,672 vehicles last quarter (up 49.5% year-over-year) and 95,591 year-to-date (down just 0.3%). That's not bad considering other brands that often noted a significant decline in 2022.
The Cadillac Lyriq is the latest electric model based on GM's Ultium platform, which is currently used also in the GMC Hummer EV Pickup and in BrightDrop vans. In 2023, the lineup of Ultium EVs will be expanded with Chevrolet Silverado EV, Chevrolet Blazer EV and Chevrolet Equinox EV.
General Motors has produced the Cadillac Lyriq at the Spring Hill Assembly in Tennessee since March 2022. According to the company, thanks to the recent start of production of Ultium lithium-ion battery cells in Warren, Ohio, production of the Lyriq is expected to increase soon. However, we guess that for significant numbers (four-digit per quarter) we will have to wait at least until 2023.
The ramp-up must progress cautiously, especially since one recall of 186 Cadillac Lyriq units has been already announced. The reason was a touchscreen issue.
Only time will tell how well the Cadillac Lyriq will be received. According to some earlier reports, as many as 25,000 units might be produced annually. There is also the potential that the Cadillac Lyriq will become available in Europe - of course, that depends on if GM will trigger the Ultium-powered return to Europe.
Meanwhile, on the horizon is already another electric model from the brand - the Celestiq, which earlier this year has been seen in camouflage.
In the longer perspective, Cadillac probably will become fully electrified, especially since luxury brands are less price sensitive and customers usually have private parking spaces to accommodate overnight home charging. The switch to BEVs will also bring a significant redesign for the new era.
