Cadillac's Hidden Advantage in EVs Is Attracting Tesla Owners at an Unexpected Pace | Carscoops

      General Motors reports that nearly 80 percent of Cadillac EV customers are new to the brand. Approximately 10 percent of these new Cadillac EV buyers are transitioning from Tesla vehicles, with the Lyriq attracting about 25 percent of those trading in Teslas.

      Cadillac asserts that its expanding EV lineup positions it for success in the luxury market. Electric vehicles have become mainstream rather than a niche or novelty. With numerous automakers introducing new models, competition is intensifying, and Cadillac is eager to establish itself in this arena.

      A General Motors executive revealed to CNBC that about 80 percent of new Cadillac EV purchasers are coming from outside the brand. A deeper analysis indicates that approximately 10 percent of these newcomers are switching from Tesla.

      The Lyriq is Cadillac's primary offering in this EV effort. Priced starting under $60,000 and eligible for a $7,500 federal tax credit—at least for now—it features a large 33-inch curved OLED display, abundant luxury, and respectable range. It is not surprising that around 25 percent of Tesla owners trading for a Cadillac opt for the Lyriq.

      Brad Franz, Cadillac's director of global marketing, told CNBC, "We see the opportunity to increase the conquest rate for Tesla, absolutely. The portfolio is the key. We’ve always had good interaction with Tesla customers, but in the past, that’s been in the 10% to 15% range for the Lyriq. So, we’re certainly observing a significant increase in conquest rate."

      Interestingly, one analyst suggests this trend may be less about the Lyriq's appeal to Tesla owners and more about their desire to exit the Tesla ecosystem. Joseph Yoon, a consumer insights analyst at Edmunds, stated, “People leaving Tesla cars now are, in my opinion, making a very deliberate choice to get out of that car. If your priority is to exit Tesla as soon as possible, then they’re not exactly cross-shopping Tesla for their next vehicle.”

      This trend may persist as Tesla faces various brand-level concerns. Concurrently, Cadillac is presenting its strongest EV lineup ever. Franz remarked, “Cadillac is leading the way with our EV lineup. We’re really poised for success. Now that the Vistiq is rounding out the SUV portfolio, we aim to become the No. 1, tier-one EV luxury brand.”

      Data from Edmunds indicates that shoppers looking at the Lyriq are also considering models like Cadillac's Optiq, the Acura ZDX, Ford Mustang Mach-E, and BMW iX. Following closely are the Kia EV9 and GM’s own Chevy Blazer and Equinox EVs. In contrast, Tesla buyers tend to remain loyal, typically exploring other Tesla models when seeking a new vehicle. Depending on the model, they may also consider vehicles from Honda, Hyundai, Kia, or occasionally the Equinox EV or Hummer EV.

      It is still uncertain whether Cadillac will secure a leading position in the EV luxury market, but the landscape is evolving. Buyers have more options than ever in the EV sector. The critical question remains whether this momentum will persist or if new regulations, tariff issues, and limited EV infrastructure will impact this growth.