Cadillac Lyriq Sales Continue to Decline
The Lyriq, which was previously a successful model for Cadillac, showed weak results in the second quarter – sales dropped to 5,017 units. This follows a disappointing first quarter, resulting in a 28.8% sales decline for the half-year.
Despite this, nearly 25% of all Cadillac sales in the first half of the year are electric vehicles. This is the highest rate among full-fledged luxury brands, and Cadillac became the market leader in premium electric cars in the second quarter.
New Models and Prospects
The company notes that the new Optiq, Vistiq, and Escalade IQ models have seen good demand. For example, 3,224 units of the Optiq were sold, and the Escalade IQ, with a starting price of $130,090, found 1,810 buyers.
At the same time, the gasoline-powered Escalade remains the sales leader with a 16.1% growth. However, the XT4 showed a decline of 22.2%, and the CT4 lost 19.1% of its sales.
In the near future, Cadillac plans to expand its electric vehicle lineup, including the Lyriq-V and Optiq-V. The arrival of a new model with a range of 740 km (460 miles) and acceleration from 0 to 100 km/h (62 mph) in 4.7 seconds is also expected.
Overall, Cadillac sales in the US grew by 15.3% in the second quarter, indicating that the brand remains competitive in the market, despite some negative trends in the electric vehicle segment.