Cadillac is joining the electric vehicle game with the Lyriq and released reservations for the vehicle over the weekend. At 1 PM, the reservation link for the 2023 Cadillac Lyriq Debut Edition opened, and by 1:19 PM, reservations were full. In theory, that sounds like a successful launch, or was it a publicity stunt for the brand new electric Cadillac?
How much will the 2023 Cadillac Lyriq cost?
The Cadillac Lyriq price started at $58,795 for the Debut Edition. The automaker said the 2023 Cadillac Lyriq price would be under $60,000, so this initial launch price makes sense. However, the price will probably jump as the other trim for the electric Cadillac levels become available. The 2023 Lyriq Dream Edition was the only option that was available for order over the weekend.
The $60,000 price range is a pretty reasonable range for a brand new electric vehicle, but there hasn’t been too much information released yet. However, with all of the semiconductor drama that’s plaguing the industry, it makes sense Cadillac is rolling out the new EV kind of slowly. Cadillac intended for the Debut Edition to be a limited edition, so perhaps this was the plan all along.
Did the 2023 Cadillac Lyriq sell out?
With the 2023 Cadillac Lyriq release, the automaker didn’t mention how many vehicles were up for reservation. Electrek noted that Cadillac might have underestimated demand for the SUV, but is that the case? One dealership reported that 1,500 Debut Editions were up for grabs with $100 deposits. If that’s the case, 1,500 vehicles isn’t that huge of a number to sell out. But Cadillac is staying quiet about the actual number of reservations available.
Plus, being able to say the 2023 Cadillac Lyriq “sold out” at the first launch sounds pretty good for the company. When the next batch of orders opens up, perhaps that will encourage others to drop $100 on a reservation. Cadillac has not confirmed the number and probably won’t, but someone else might leak the information eventually.
GM says more Lyriq EVs will be available through Cadillac dealerships, but not until Summer 2022. The Cadillac Lyriq release date is slated for Q2 of 2023, so buyers still have quite some time to wait.
How many reservations makes a successful launch?
In comparison, the Tesla Cybertruck received 41,000 reservations on the first day reservations were open. During the first week, that number jumped to 250,000. Additionally, the Ford F-150 Lightning racked up 44,000 in the first 48 hours. At the same time, the new Lyriq has a lot to offer. The 100 kWh battery will get 340 hp and has “more than 300 miles” of range, but that’s not confirmed yet. If all of the reservations are full, that’s a successful launch regardless of the number.
If nothing else, the release of the 2023 Cadillac Lyriq seems to be achievable. Tesla has pushed the Cybertruck back a few times and hasn’t delivered on any of the reservations. Ford is ramping up production on the Lightning, but the EV truck isn’t commonplace on the road yet. It sounds like, publicity stunt or not, Cadillac is working hard on the 2023 Lyriq behind the scenes.