Cadillac Forced To Make $8K Price Cut To Lyriq In Some Markets

The EV price war isn't just happening here in the US but in China, too. This has led Cadillac, a company that once said it doesn't need to drop prices, to do precisely that. AllCadillac Lyriqmodels have reduced their price by 60,000 yuan, roughly $8,300. According toAutoevolution, this latest move is the direct result of Tesla starting a price war.

This isn't just another example of price cutting, however. Cadillac had to remove previously standard features like the lifetime warranty, three years of free charging, and a free home charger. These features can be put back in for $8,300.

GM's factory in Yantai, China, supplies the Chinese domestic market. US models are produced in Tennessee, so theoretically, Cadillac can do the same here.

Everyonehas been pointing fingers at Tesla, having started the fire sale earlier this year. The company has denied trying to undercut competitors, claiming it's just repositioning itself better in the market. Whatever the case may be, it definitely benefits the consumer, as proved by Tesla's latestsales and profits results.

The Lyriq price cuts come after Nio pulled a similar move and slashed prices by roughly $4,000. Nio also took away free battery swaps, making it an optional extra.

VW, who is trying to cling onto what little market share it still has in China, cut prices on the ID.3 to the point it now starts at about $17,500. That's $5,000 less than its launch price.