The Cadillac Lyriq is now priced $32,000 decrease than it was when the big electrical SUV was launched in Australia final yr, making it one of many newest premium-branded electrical automobiles (EVs) to obtain a major worth reduce.
The checklist worth of the Lyriq Sport and Lyriq Luxurious was diminished earlier this yr to $90,000 earlier than on-road prices, with a $95,000 nationwide drive-away supply presently out there till June 30, 2026.
This comes regardless of rising EV gross sales in Australia over current months as a result of greater gasoline costs, and after Cadillac had provided numerous offers on the Lyriq since commencing deliveries early in 2025, together with finance presents and discounted pricing.
On the lookout for your subsequent automobile? We’ll assist you to analysis and examine so that you select with confidence.
“The market moved considerably from once we launched to the place we are actually, each from a worth and a aggressive standpoint – new manufacturers have come on,” Normal Motors Australia and New Zealand (GM ANZ) managing director Jess Bala instructed CarExpert on the launch of the brand new Cadillac Optiq and Vistiq.
Whereas Ms Bala didn’t identify any of those manufacturers, Chinese language model Zeekr stands out. Although it commenced native deliveries late in 2024, shortly earlier than Cadillac, its gross sales kicked into overdrive late final yr with the arrival of the mid-size 7X electrical SUV. Zeekr pitches itself as a premium model, however the 7X undercuts the top-selling Tesla Mannequin Y – to not point out the brand new Cadillac Optiq.
“Anytime we go to market with something, we do numerous work to set what that worth is, we have a look at what the competitors’s doing, our forecast, our quantity expectations, what number of we wish to promote, all these types of issues,” mentioned Ms Bala.
“After we launched, we wholeheartedly believed that that worth was proper, after which to the group’s credit score, the market shifted and we shifted together with it.”
Cadillac initially introduced a worth of $117,000 earlier than on-road prices for the Lyriq in 2024, but it surely elevated this to $122,000 plus on-roads in 2025. Regardless of this, it nonetheless undercut rivals just like the Audi Q8 e-tron, BMW iX and Mercedes-Benz EQE SUV on the time.
Ms Bala declined to share what Cadillac’s quantity targets are for our market. The model additionally doesn’t report its gross sales in month-to-month VFACTS trade experiences, in contrast to GM Specialty Automobiles which does this for its vary of Chevrolet and GMC fashions.
“We’ve our personal inside targets. We wish to keep related to the fitting prospects in that luxurious house, so to achieve success and kind of proceed to set ourselves up long-term, we needed to do the fitting factor and pivot,” she mentioned.
The adjusted checklist worth of the Lyriq brings it underneath the present Luxurious Automobile Tax (LCT) threshold for fuel-efficient automobiles of $91,387 (rising to $91,667 within the new monetary yr), which subsequently makes it eligible for Fringe Advantages Tax (FBT) exemptions.
Many luxurious manufacturers have been broadening their choices beneath the LCT threshold to enchantment to prospects with wage packaging preparations, as with new EVs beneath this worth level there’s no FBT to pay.
This Australian Authorities scheme, referred to as the Electrical Automobile Low cost, is persevering with in full till March 31, 2027.
After April 1, 2027, the complete FBT exemption will solely apply for automobiles costing $75,000 or much less. Automobiles above this worth level however beneath the LCT threshold will as an alternative be eligible just for a 25 per cent low cost on payable FBT.
“One of many issues that we’ve been capable of set up over this primary 18 months is what’s the proper worth, and that’s fluctuated throughout the trade,” mentioned GM ANZ advertising director Heath Walker.
“You solely have to have a look at the announcement BMW has made immediately round the place their worth factors are going, so we’re not the one one which’s watching this holistically.”
Mr Walker was referring to the announcement of an entry-level ‘40’ model of the new-generation BMW iX3 mid-size electrical SUV, priced at $89,900 earlier than on-roads – sliding underneath the LCT threshold, and $20,000 lower than the iX3 50 xDrive.
The Lyriq’s worth reduce hasn’t even been the biggest within the luxurious house.
Lexus slashed costs of its RZ by as much as $42,059 earlier this yr, and that was for a considerably up to date mannequin as well.
As with the Lyriq and the iX3, the RZ’s base worth now slides in underneath the LCT threshold.
Volvo has additionally reduce costs of its EX30 and EX40 small electrical SUVs by as much as $11,300, although it defined this was to offer its new mid-size EX60 electrical SUV extra respiration room.
BMW has additionally reduce iX1 pricing by as much as $8900 and iX2 pricing by as much as $7700, and even Zeekr’s entry-level X small SUV has acquired worth cuts because it lags behind its extra in style 7X showroom-mate.
It’s doable different new manufacturers might additional shake up Australia’s luxurious automobile market. Zeekr and Denza are increasing their lineups, whereas Avatr has been spied testing in Australia.
