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A Cadillac all-electric 2025 Escalade IQ luxury SUV is displayed during press day of the North American International Auto Show in Detroit, Michigan, September 14, 2023. Rebecca Cook | Reuters DETROIT — Cadillac’s expanding all-electric vehicle lineup is attracting a notable number of new buyers to the American luxury brand, including an increase this year of Tesla owners trading in their EVs. The General Motors brand reports nearly 8 out of every 10 customers purchasing a Cadillac EV are new to Cadillac, with around 10% of those customers trading in a Tesla. That includes roughly 25% of customers trading in a Tesla this year for a Cadillac Lyriq SUV, up from prior levels of about 10% to 15%. “We see the opportunity to increase the conquest rate for Tesla, absolutely,” Brad Franz, Cadillac director of global marketing, told CNBC during an event for the Vistiq three-row SUV — the brand’s latest EV to hit U.S. showrooms. That increase in customer conquesting, as the industry refers to it, comes as Cadillac offers a relatively full lineup of EVs and as Tesla faces declining sales and boycotts this year amid CEO Elon Musk’s support of President Donald Trump and his actions as part of the so-called Department of Government Efficiency, or DOGE. Cadillac declined to speculate on if Musk’s politics played into Tesla owners’ thinking, saying the carmaker is “building great Cadillacs that are conquesting customers from other brands on the merits of the products.” Cadillac’s current EV lineup includes an entry-level crossover called the Optiq, the midsize Lyriq SUV, the Vistiq, the Escalade IQ full-size SUV and soon a $300,000-plus bespoke Celestiq car. It also offers a performance variant of the Lyriq and a larger version of the Escalade IQ. The 2026 Cadillac Vistiq EV. Cadillac “The portfolio is the key,”…

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Filed under: News - @ May 20, 2025 2:29 pm