GM’s luxury brand now has a full lineup of EVs, and it’s already starting to pay off. Cadillac’s EVs are quickly catching on with nearly 80% of buyers new to the brand, many of them Tesla drivers.
Cadillac’s new EVs are winning over Tesla drivers
Cadillac is coming off its strongest quarters since 2008 after retail sales surged 21% in the first three months of the year.
After launching the new Optiq, Vistiq, and Escalade IQ, Cadillac now offers a full lineup of luxury electric SUVs. According to Brad Granz, Cadillac’s global marketing director, its new EVs are attracting buyers from other brands, including Tesla.
During a recent event to showcase the three-row Vistiq, Granz told CNBC that nearly 80%, or 8 out of every 10 Cadillac EV buyers, are new to the brand.
“We see the opportunity to increase the conquest rate for Tesla, absolutely,” Cadillac’s global marketing chief added.
About 25% of Cadillac Lyriq buyers are former Tesla drivers, up from 10 to 15% previously. Cadillac expects to gain a bigger share of the luxury EV market with three new EVs rolling out across all SUV segments.
The bestselling luxury EV brand
Meanwhile, Tesla has seen sales slow over the past few months amid backlash over CEO Elon Musk’s political rants and support for President Donald Trump.
According to the most recent S&P Global Mobility data (via Automotive News), Tesla remained the top-selling EV brand in March with over 51,000 registrations, up 1.1% from March following two months of lower numbers. Cadillac, on the other hand, placed eighth after EV registrations climbed 86%.
Cadillac’s EV lineup this year includes the midsize Lyriq, the entry-level Optiq, the three-row Vistiq, and the larger Escalade IQ.
The 2026 Cadillac Optiq, which is about the same size as the Tesla Model Y, starts at $54,390 and has a range of up to 302 miles.
Dubbed the “mini Escalade,” the Vistiq is Cadillac’s new three-row luxury electric SUV, starting at $78,790. Meanwhile, the massive Escalade IQ starts at about $130,000. Later this year, it will add the ultra-luxury Celestiq, priced at around $340,000.
According to Edmunds.com (via CNBC), shoppers who look at a new Cadillac EV rarely look at a Tesla vehicle at the same time (cross-shop). In other words, those choosing an electric Cadillac are not even considering a Tesla.
The top cross-shopped vehicles for Cadillac’s Lyriq include the Optiq, Acura ZDX, Ford Mustang Mach-E, BMW iX, Kia EV9, and Chevy’s Blazer and Equinox EVs.
Cadillac’s goal is to be the bestselling luxury EV brand this year, but that doesn’t include Tesla. “We’re really poised for success. We’re going to take this portfolio, now that Vistiq is rounding out the SUV portfolio, and become the No. 1, tier-one EV luxury brand,” Franz said.
With new EVs arriving, will Cadillac see even more Tesla drivers trade in? Comment below and let us know your thoughts.
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