Cadillac buyers are the oldest in the car market, something GM’s fanciest brand is desperate to change. And with stylish, tech-infused product like the new Lyriq SUV it’s finally got the kind of cars to make that happen. Or it would if it could actually get the vehicles out of the door.
A new report claims that the affluent younger buyers Cadillac hoped to target have taken the bait and are happy to sign up for a car, but some are become so disillusioned by the lengthy wait for delivery that they’re cancelling their orders and shopping elsewhere. Others are holding firm, but the wait and lack of communication has soured the experience, potentially losing all of the goodwill vehicles like the Lyriq EV worked so hard to earn.
Around 80 percent of those interested in purchasing a Lyriq are new to the Cadillac brand, and more than 60 percent are either Gen X or Gen Y, while many live in coastal areas where Cadillac’s sales are typically weaker, Bloomberg reports. But few of those dream buyers have been able to take delivery of one of the electric SUVs, despite putting deposits down more than a year ago.
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Software issues and a slow start to production meant that the Lyriq, which was officially revealed in April 2021, was delivered to only 36 owners in the third quarter of 2022, 122 owners in the last quarter, and fewer than 1,000 buyers in the first three months of this year.
Bloomberg spoke to two drivers in their 30s with long-standing orders for the Lyriq and no Cadillacs in their personal car histories. One has bought a Kia EV6 to fill the gap, while the other has pre-ordered an Audi just in case his Cadillac delivery is hit with further delays.
Cadillac has attempted to calm angry customers by offering $5,000 to buyers who reserved a 2023-model-year Lyriq through the company’s website, but who now won’t get their car until 2024. But those who ordered through a dealership aren’t eligible for the handout.
