Report: 2024 Cadillac Lyriq To Get Lower-Priced Entry-Level Model

Price cuts have been all the rage in the electric vehicle (EV) market lately. Cadillac wants to find a way to play along, although it won’t actually charge less for any current product. Instead, the company plans to introduce a lower trim level of its new Lyriq electric SUV with a lower price tag.

The move comes shortly after Tesla radically slashed prices, and Ford answered with a price cut to its own Mustang Mach-E EV.

About the Lyriq

The Lyriq is Cadillac’s first EV — a luxury midsize SUV with stylish angular looks and a big Cheshire Cat grin of LEDs on its false grille.

With ranges up to 312 miles, options up to 500 horsepower, and a sleek interior full of glossy black and brushed nickel trim, it has been a sales success. Cadillac’s order page currently lists the 2023 model as sold out just weeks into 2023. Prices start — er, started — at $61,795.

GM Authority reports that, for 2024, they’ll start at $57,195. But that price won’t get you the same Lyriq.

Instead, it gets a new trim level called Tech.

It may be poorly named. To get the price down, Cadillac removed some significant tech from the Tech. It forgoes the Driver Assistance Package, which includes adaptive cruise control, high-definition surround-view cameras, and parking assistance features. Select-a-color ambient lighting, a heated steering wheel, and rain-sensing wipers are also reportedly deleted.

The Tech edition will be rear-wheel drive (RWD), with one motor on the rear axle — a setup that’s good for 340 horsepower on the current Lyriq.

The Lyriq will likely not qualify for a $7,500 federal tax rebate available on some electric cars. The rebate is limited to cars priced at $55,000 and under and SUVS priced from $80,000 on down.

Cadillac markets the Lyriq as an SUV. But the IRS, using an old formula from the Department of Transportation, considers it a tall sedan. Even the discounted $57,195 price of the Lyriq Tech isn’t low enough to get it under that line.

We’ve reached out to General Motors for confirmation and will update this story once we hear back. 

According to GM Authority, the 2024 Cadillac Lyriq will be priced from $57,195, plus a mandatory destination charge of $1,395. Here is what the site reports: