The average transaction price (ATP) of new Cadillac Lyriqs increased six percent during Q4 2023.
As per the latest report from Cox Automotive, buyers spent $68,190 on average for a new Cadillac Lyriq during Q4 2023. That is an increase of 3.34 percent compared to Q3 2023, when Lyriq transacted at an average of $65,983. As such, this represents the largest ATP increase of any of the luxury marque’s vehicles during the same time period.
For reference, 3,820 units of the Lyriq were sold during the fourth quarter of 2023 as cumulative Cadillac sales fell seven percent to 36,378 units.
It’s not surprising that the Cadillac Lyriq ATP increased during Q4 2023. One year ago, the only Lyriq trim available was the 2023 Lyriq Debut Edition, which had a starting MSRP of $59,990, including destination and freight charges. Since then, the Lyriq has become more widely available, while more higher-contended trim levels have joined the lineup, skewing ATP upward. The new base Tech trim level represents the most affordable option starting at $58,590, while on the other end of the spectrum, the range-topping Sport 3 and Luxury 3 trims start at $74,590 and $74,090, respectively.
As a reminder, the Lyriq rides on the luxury marque’s BEV3 platform, and production of the 2024 Lyriq is well underway at the Spring Hill plant in Tennessee. The electric luxury crossover is currently offered with two powertrains. The base single-motor setup features one Ultium motor mounted on the rear axle, lending 340 horsepower and 325 pound-feet of torque for an estimated 312 miles of driving range. The second is a dual-motor AWD setup that adds a motor to the front axle, bringing the total to 500 total system horsepower. In the near future, Cadillac will reveal the upcoming Lyriq-V – a higher-performance variant of the Lyriq.
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