The Lyriq is not only an effective conquest vehicle but also one that attracts younger customers for Cadillac.

2023 cadillac lyriq sold out, 70% of buyers are new to the brand

The 2023 Cadillac Lyriq sold out a mere four hours after orders opened on May 19, the automaker revealed. GM’s luxury brand opened the order banks at 9 am and by 1 pm the 2023 Lyriq had sold out, Cadillac spokesman Michael Albano told the Detroit Free Press.

“This week marked a historic moment in Cadillac’s journey to an all-electric future as the brand’s first EV went on sale. Customer demand for the Lyriq has matched our expectations and we look forward to exceeding their expectations when they take delivery of their Lyriq.”

Michael Albano, Executive Director of Cadillac Communications

While the representative declined to say how many orders Cadillac received, in March the brand did report having about 233,000 people who expressed interest in the car. Back then, Cadillac also said it expected to convert about 10% of those hand-raisers to buyers. It’s safe to say Cadillac is planning a production run of more than 20,000 vehicles for the 2023 Lyriq, especially since GM told suppliers earlier this year to prepare to build 25,000 Lyriq electric SUVs in 2022.

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For customers who didn’t manage to secure a 2023 Lyriq, the company opened a preorder waitlist. According to Cadillac’s official website, waitlist members may have the chance to order a 2023 Lyriq when one becomes available or will have the first opportunity to preorder the 2024 Lyriq. To make it to the list, customers must pay a fully refundable $100 deposit to a Cadillac dealer of their choosing.

Speaking about Cadillac Lyriq customers, the brand’s first-ever production EV appears to be quite an effective conquest vehicle, as approximately 70% of buyers are new to the brand. The percentage was reportedly communicated by Cadillac in a recent media presentation, according to Cadillac Society.

Interestingly, many of these new customers are younger than the typical Cadillac customer, with 68% of Lyriq customers being members of the so-called Gen X and Gen Y demographic groups.

The 2023 Lyriq is certainly not your average Cadillac, which partly explains its appeal to a new customer base. Underpinned by GM’s all-new BEV3 platform and powered by Ultium Drive powertrains and Ultium batteries, the Lyriq starts at $62,990 for the 340-horsepower RWD model and $64,990 for the 500-horsepower AWD version.

The rear-wheel-drive Lyriq has an EPA-estimated range of 312 miles on a full charge from a 100-kWh battery pack.

2023 cadillac lyriq sold out, 70% of buyers are new to the brand

2023 Cadillac Lyriq product page on customer website

Keyword: 2023 Cadillac Lyriq Sold Out, 70% Of Buyers Are New To The Brand

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