Heading into its second model year as the luxury marque’s first all-electric vehicle, the 2024 Cadillac Lyriq will see minor changes, including an expanded lineup of trim levels. In fact, the 2024 model year of this electric luxury crossover will be less expensive than its 2023 model year predecessor.
The base 2024 Cadillac Lyriq RWD will carry an MSRP starting at $60,000, while the Lyriq AWD will start at $64,000. In comparison, as previously reported by Cadillac Society, prices for the 2023 Lyriq RWD start at $62,990, while the 2023 Lyriq AWD starts at $64,990. In summary, the upcoming Lyriq RWD will have a starting price of $3,000 less than its predecessor, while the more complete Lyriq AWD will drop almost $1,000 off its overall price.
Interestingly, we recently discovered that the Cadillac Lyriq is one of the EVs that do not qualify for the Federal EV tax credit. That’s because the US Treasury Department classifies luxury electric crossovers as passenger vehicles, not utility vehicles, meaning their retail price must not exceed $55,000 to qualify for the $7,500 federal tax credit. Cadillac’s parent company, General Motors, has expressed displeasure with this decision and raised its concerns with the US Department of the Treasury regarding the matter.
As a reminder, Lyriq uses the luxury marque’s BEV3 platform, and is assembled at its Spring Hill factory in Tennessee for all markets except China. It is offered with a choice of two powertrains. The basic single-motor setup features one Ultium motor mounted on the rear axle, producing 340 horsepower and 325 pound-feet of torque for an estimated 312 miles of range from a full load. The second is the dual-motor Performance AWD setup that makes over 500 horsepower.
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