Competition in the electric-vehicle market is intensifying and General Motors (GM), like other automakers, knows it well.
The Detroit giant is convinced that the big winners will be those who not only offer a full portfolio of vehicles but who cater to all consumers, anticipate their tastes and above all offer them unique experiences.
Chief Executive Mary Barra's group has therefore set out to offer a varied range of vehicles to try to reach all audiences. The first 100% electric vehicle was the Bolt sedan, followed by a SUV/crossover version, the Bolt EUV, whose goal is to attract consumers who are curious about EVs by offering them one at an affordable price.
GM then aimed for the top by launching the electric version of the iconic Hummer pickup/truck. On July 22, the group will unveil an ultraluxurious electric sedan, the Cadillac Celestiq, whose whispered price of $300,000 suggests that the automaker has decided to take on its German rivals Mercedes-Benz (DDAIF) and BMW (BMWYY) .
A Significant Discount to Track Drivers
But GM seems to be aiming for more than that. The veteran carmaker has just dared to do what no other car manufacturer has ever done. GM, through its premium Cadillac brand, has just launched a discounting program primarily targeting buyers of the Lyriq electric SUV, Cadillac's first-ever electric vehicle.
The company has decided to offer a $5,500 discount to a limited number of Lyriq customers, Michael Albano, a GM spokesman, confirmed to TheStreet. The vehicle's base price will thus drop from $62,990 currently to $57,490 for customers who will be part of the program, the Cadillac Lyriq Targeted Private Offer.
The program is available to certain customers who are buying or leasing the model year 2023 Lyriq from June 28 through Aug. 31.
There's s a catch, though: Interested customers will have to sign a nondisclosure agreement and give Cadillac access to their driving patterns by letting the brand track their use of the vehicles.
"The number of customer involved is intentionally very small (less than 20)," Albano said in an emailed statement. "This is a small program of less than 20 customers. Customers were selected due to location."
GM does not say how these customers were chosen, but they are located in Detroit, Los Angeles and New York. The firm also does not say which data it will collect, what it will do with the information, and which methods it intends to use to analyze the information collected. Further, whether GM will otherwise destroy the data once its study is complete is unclear.
"We will use the program to learn more about customer behaviors and their vehicles," Albano said. "As we transform our business, the launch of our first all-electric vehicle, Lyriq, provides Cadillac some unique learning opportunities.
"Therefore, we have engaged a small group of early customers who agree to share their vehicle information and customer behaviors. Cadillac will use these learnings to elevate the experience for all our customers."
Sold Out
The spokesperson added that "the details of the program are a private agreement between the customer and Cadillac."
The news about the program was first reported by Carsdirect.com.
The Lyriq is a crucial vehicle for Cadillac. It will determine the brand's success in the EV market. When the car manufacturer started taking orders, on May 19, interest was so high that GM paused the orders and said the vehicle was sold out.
"2023 Lyriq orders are full. Preorder your 2024 Lyriq today" is the message now written on the website dedicated to the vehicle.
Lyriq is Cadillac's first-all-electric offering. The company, which aims for an all-electric portfolio by 2030, said its luxury SUV/crossover has an EPA-estimated 312 miles of range on a full charge.
The Lyriq, which is built at GM's Spring Hill Assembly plant in Tennessee, is based on the Ultium platform, a modular setup that will underpin all kinds of vehicles in the GM family.
The Lyrig rear-wheel drive has a starting price of $62,990, while the all-wheel-drive will cost an additional $2,000 and come with a second drive unit, which the carmaker says will be placed at the front of the vehicle to boost dynamics and performance.
