Cadillac dealers eager for rest of EV plan

As Cadillac's first fully electric vehicle starts arriving at dealerships in the coming weeks, the brand's dealers are clamoring for more to follow quickly.

Cadillac executives have said the luxury brand's entire portfolio will be electric by 2030, but so far, Cadillac has outlined specific plans for only one high-volume EV: the Lyriq midsize crossover that debuts this month.

As dealers spend big money to update their showrooms and service bays for EVs, they're banking on the brand rolling out more battery-powered crossovers and SUVs as quickly as possible after the Lyriq to make their investment worthwhile.

"The majority of today's consumers still want that midsize crossover where they can hold five or six people. They can hold some gear, but they're really focused on the economy and value," said Justin Gasman, financial services director at McCaddon Cadillac-Buick-GMC in Boulder, Colo. The Lyriq "is the first step in the right direction."

Cadillac has said its next EV will be the Celestiq, a low-volume, hand-built sedan expected to cost more than $200,000. AutoForecast Solutions projects only a few hundred Celestiq sedans will be built next year.

Cadillac plans to build 25,000 Lyriq crossovers at Spring Hill Assembly this year, up significantly from the 3,200 previously planned because of strong demand, according to a Reuters report that cited information given to suppliers. AutoForecast Solutions expects Cadillac to build 45,000 Lyriq crossovers annually once production ramps up.

After the Lyriq and Celestiq, Cadillac will launch an Escalade-sized EV in 2024, followed by a small crossover the same year and a larger crossover in 2025, according to AutoForecast Solutions. Cadillac hasn't confirmed any EVs beyond the Lyriq and Celestiq.

"For crossovers, they are hitting small, medium and large right [off] the bat," said Sam Fiorani, vice president for global vehicle forecasting at AutoForecast Solutions. "Luxury buyers are looking at crossovers primarily in the XT5 to XT6 size. That's exactly where Cadillac is targeting."

John Iacono, co-president of Bram Auto Group, thinks Cadillac should continue to focus its EV strategy on segments popular among buyers of internal-combustion vehicles. Bram Auto Group opened Cadillac of Manhattan in New York City late last year.

"Where the Lyriq sits — below and above — is probably where I would think would be the best bet for those vehicles to come on in as an EV version," he said.

In Iacono's urban market, many customers don't have the space or the need for a full-size SUV. But in other markets, larger EVs could help put Cadillac in the lead, dealers say.

In South Texas, a full-size electric SUV would sell quickly, said Jorge Gutierrez, corporate strategist at Bert Ogden Auto Group. "The Escalade is something that no one can have enough of," he said. "That would be, in my opinion, the next place to go."

Some dealers hope Cadillac might even enter new segments as it transitions to EVs. "If they came out with a [pickup] truck," Gasman said, "I think they would kill it."