When we were at the launch of the 2026 Cadillac Vistiq in the Detroit area, one piece of information shared during the vehicle's presentation caught our attention. And that was, that 74 percent of initial buyers of the electric Lyriq SUV are new to the Cadillac brand.
Conquests, a holy grail
Automakers go to great lengths to attract buyers from their competitors. With the Lyriq, it seems to have happened quite naturally. This is what happens when you're quick to market with a new model. Cadillac's strategy has paid off in this regard.
According to CNBC, the percentage of typical Tesla vehicle buyers who are deciding to switch to Cadillac has jumped from 10 to 25 percent, which is enormous.
Across Cadillac's entire electric lineup, some 10 percent of buyers are coming over from Tesla. It’s impossible not to deduce that a big part of that is the polarizing figure of Tesla CEO Elon Musk. But buyers could also be going elsewhere, yet many are gravitating to Cadillac.
Lyriq's market performance
The Lyriq is performing quite well in the market overall. In 2023, Cadillac sold 9,154 units of the EV in the U.S. The figure jumped to 28,404 units in 2024 as production hit full stride.
Cadillac fully intends to capitalize on the trend and is offering conquest bonuses to eligible buyers in the U.S., further twisting the knife for Tesla and other competitors.
We'll see if the trend continues. One thing is certain: for the brand, which has invested heavily in the transition to electric, this is excellent news.