The Cadillac Lyriq’s starting price drops when a 500hp model is added

The Cadillac Lyriq will be available in 2024 at a lower price and with more performance.

The all-electric SUV is available to order now in a new entry-level tech trim level, starting at $58,590 versus $62,990 for the sold-out 2023 model.

The Lyriq retains its 340hp rear-wheel drive, but its range is now 308 miles per charge instead of 312 miles.

Some features, including equipment for Cadillac’s Super Cruise highway driving system, are no longer standard, but a 500-horsepower, 307-mile range, all-wheel-drive model is now available for $62,090.

REVIEW: THE 2023 CADILLAC LYRIQ HITS ALL THE RIGHT NOTES

The Cadillac Lyriq Tech is a new trim. (cadillac)

Cadillac delivered just 122 Lyriqs in 2022 when production ramped up in the second half of the year, but had built 8,195 by the end of December, according to the GM Authority. The delay was largely due to final inspections and shipping times to retailers. Production at the Spring Hill, Tennessee factory where it will be built is expected to increase significantly this year.

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The Lyriq is also currently eligible for a $7,500 tax credit after the Treasury Department reclassified it as an SUV, which has an $80,000 price cap, compared to $55,000 for cars.

The Lyriq has a widescreen digital display. (cadillac)

New battery materials procurement requirements could come into effect as early as March 1, but that could reduce the loan amount.

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The Lyriq Sport is the new top level equipment. (cadillac)

Several new luxury and sport trim levels have been added to the Lyriq range, with increasing levels of equipment including Super Cruise, premium audio and a fully opening panoramic sunroof, with a Sunroof Sport 3 and the fastest 19.2kW -Home charging spec system is listed at $82,885.