GM’s luxurious model now has a full lineup of EVs, and it’s already beginning to repay. Cadillac’s EVs are rapidly catching on with almost 80% of consumers new to the model, a lot of them Tesla drivers.
Cadillac’s new EVs are successful over Tesla drivers
Cadillac is coming off its strongest quarters since 2008 after retail gross sales surged 21% within the first three months of the yr.
After launching the brand new Optiq, Vistiq, and Escalade IQ, Cadillac now gives a full lineup of luxurious electrical SUVs. In accordance with Brad Granz, Cadillac’s international advertising and marketing director, its new EVs are attracting consumers from different manufacturers, together with Tesla.
Throughout a latest occasion to showcase the three-row Vistiq, Granz informed CNBC that just about 80%, or 8 out of each 10 Cadillac EV consumers, are new to the model.
“We see the chance to extend the conquest price for Tesla, completely,” Cadillac’s international advertising and marketing chief added.
About 25% of Cadillac Lyriq consumers are former Tesla drivers, up from 10 to fifteen% beforehand. Cadillac expects to achieve a much bigger share of the luxurious EV market with three new EVs rolling out throughout all SUV segments.
The bestselling luxurious EV model
In the meantime, Tesla has seen gross sales sluggish over the previous few months amid backlash over CEO Elon Musk’s political rants and help for President Donald Trump.
In accordance with the newest S&P International Mobility knowledge (by way of Automotive Information), Tesla remained the top-selling EV model in March with over 51,000 registrations, up 1.1% from March following two months of decrease numbers. Cadillac, then again, positioned eighth after EV registrations climbed 86%.
Cadillac’s EV lineup this yr consists of the midsize Lyriq, the entry-level Optiq, the three-row Vistiq, and the bigger Escalade IQ.
The 2026 Cadillac Optiq, which is about the identical dimension because the Tesla Mannequin Y, begins at $54,390 and has a variety of as much as 302 miles.
Dubbed the “mini Escalade,” the Vistiq is Cadillac’s new three-row luxurious electrical SUV, beginning at $78,790. In the meantime, the large Escalade IQ begins at about $130,000. Later this yr, it can add the ultra-luxury Celestiq, priced at round $340,000.
In accordance with Edmunds.com (by way of CNBC), customers who take a look at a brand new Cadillac EV not often take a look at a Tesla automobile on the similar time (cross-shop). In different phrases, these selecting an electrical Cadillac should not even contemplating a Tesla.
The highest cross-shopped autos for Cadillac’s Lyriq embrace the Optiq, Acura ZDX, Ford Mustang Mach-E, BMW iX, Kia EV9, and Chevy’s Blazer and Equinox EVs.
Cadillac’s purpose is to be the bestselling luxurious EV model this yr, however that doesn’t embrace Tesla. “We’re actually poised for fulfillment. We’re going to take this portfolio, now that Vistiq is rounding out the SUV portfolio, and turn into the No. 1, tier-one EV luxurious model,” Franz mentioned.
With new EVs arriving, will Cadillac see much more Tesla drivers commerce in? Remark beneath and tell us your ideas.
