Cadillac EVs Are Luring Buyers Away From Audi And Mercedes
Conquest rates for Cadillac's EVs are incredibly high, at 79% for the Lyriq and 76% for the newer Optiq. In other words, more than three-quarters of customers are new to the Cadillac brand.
Asked which brands these customers are coming from, Cadillac Vice President John Roth dropped some very prestigious names.
"Tesla, Mercedes, Audi, Lexus," said Roth, according to Inside EVs. "Yeah, all the big luxury tier one buyers are coming our way and we're super happy about that. We're giving them a great vehicle and a great experience with great range, great technology, great customer experience, and a great dealer network to service them."
Interestingly, Cadillac EV buyers are around 47 or 48 years old, significantly below the average age for luxury car buyers in general.
It's noteworthy that Cadillac is selling more luxury brands than the likes of Audi, since the latter has been in the EV game for longer, and has an extensive EV lineup with models like the S e-tron GT, Q4 e-tron, Q6 e-tron, and Q8 e-tron.
Cadillac's EV range starts with the compact Optiq, which starts at $52,895. Last month, the brand revealed the first Optiq-V, a high-performance version of the crossover with 519 horsepower and a 0-60 mph time of only 3.5 seconds.
The mid-size Lyriq has been around for longer and begins at $58,595. This looks and feels like a plush, high-tech luxury car in every aspect, and is also topped by a high-performance V derivative.
Related: 5 Reasons Why the New Optiq-V Might Be Cadillac's Best EV Yet
The three-row Vistiq hasn't been on sale for long enough to determine how successful it'll be, but we know how popular three-row mid-size SUVs are in America, so it's expected to do well. The Escalade IQ, Escalade IQL, and Celestiq are all much more expensive models expected to sell in lower volumes, but all add an aspirational element to the brand's EV lineup.
This range of EVs - from compact crossovers to the $300,000 ultra-luxury Celestiq - covers a multitude of segments, yet all of them have the competitive range, performance, and luxury appeal they need to win over buyers.
Profitability in EV production remains a challenge, and that won't get any easier once the tax credit falls away at the end of September; the Lyriq is already more expensive than it was. For now, though, Cadillac has clearly found a winning recipe with its EV lineup.
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