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Nowadays, luxury electric vehicles (EVs) can be sold out before they’re even in production, with all of them accounted for mere minutes after the manufacturer opens reservations online.
That's exactly what happened with the newly released 2023 Cadillac Lyric EV, as all the reservations were taken in just 10 minutes, as reported by Engadget. People are excited about its impressive performance and willing to pay premium prices for the vehicle.
Gone in 10 minutes: The 2023 Cadillac Lyriq EV sold out in a jiffy
Cadillac opened reservations for the newly rolled-out Lyriq EV on September 18, and the American automaker didn't struggle to find willing customers. 10 minutes later, the Lyriq EV Debut Edition was already sold out, each reservation holder having paid the $100 reservation fee.
Car shoppers who missed a chance to secure a Lyriq EV shouldn't be troubled, though. According to General Motors (GM), Cadillac’s parent company, more Debut Edition models will be supplied to dealerships in summer 2022.
The Lyriq EV's sellout time is among the fastest for a Debut Edition. German car manufacturer Volkswagen (VW) took eight hours to sell out a few thousand ID.4 First Editions.
How many people reserved the Cadillac Lyriq EV?
While GM was delighted to get ready buyers for its luxury badge, they were reluctant to disclose just how many models had been up for grabs. However, it’s estimated that the automaker released about 1,500 Debut Edition models.
The Cadillac Lyriq EV is a top-class model with a $60,000 price tag, and this response from consumers is a clear indication of increasing demand for EVs.
It's no surprise that the Lyriq EV Debut Edition sold out that quickly despite its lofty initial price. The electric vehicle provides excellent battery and mileage performances.
Its future owners can expect over 300 miles in range, an expansive 33-inch infotainment system, and a 190 kW Level 2 fast-charging battery system. The Lyriq also delivers 325 lb-ft of torque and 340 horsepower, a 19-speaker sound system, adaptive cruise control, and automatic parking assist, among other features.
EVs are just getting started
Cadillac is not the only beneficiary in the EV rush, as other domestic car manufacturers have experienced an increased demand for their EVs. For instance, Ford was compelled to boost its F-150 Lightning production because the demand has significantly outpaced the automaker's initial releases.
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