Cadillac Slashes Optiq Lease Price: What It Means for EV Buyers

Cadillac has reduced the lease price of its Optiq EV by 20%, now available for $399 per month. Find out why GM made this move and what it means for the EV market.

Cadillac is making a bold move in the electric vehicle market by significantly slashing the lease price of its most affordable EV, the Cadillac Optiq. Just two months ago, the starting lease rate was $489 per month, but now GM is offering it for just $399 with a 24-month term and an upfront payment of $4,929. That’s a $90 per month drop, nearly 20%, making the Optiq one of the most compelling offers in the electric SUV segment.

However, there’s a catch. To qualify for this deal, customers must have leased a 2020 or newer non-GM vehicle for at least 30 days or an electric vehicle from a competing brand dating back to 2011. This includes lessees of Tesla, Rivian, Porsche, BMW, Ford, Honda, and other manufacturers. Additionally, the deal includes a $2,000 loyalty or conquest offer, further enhancing the savings. The offer is valid until March 31.

The Optiq is a sleek electric SUV comparable in size to the Tesla Model Y, measuring 190 inches long, 75 inches wide, and 65 inches tall. It features an 85 kWh battery pack, delivering up to 302 miles of range (EPA), and supports 150 kW DC fast charging, allowing it to gain 79 miles of range in just 10 minutes. Inside, it boasts a 33-inch display and a spacious cargo area of 57 cubic feet, making it a practical choice for families and adventure seekers.

The price cut on the Optiq is part of GM’s broader strategy to strengthen its position in the EV market. Chevrolet is also offering aggressive lease deals on the Blazer EV, Equinox EV, and Silverado EV, with prices starting at $299 per month and 0% APR financing.

But potential challenges loom. Political shifts in the U.S., such as the removal of the $7,500 EV tax credit and possible tariffs on vehicles produced in Mexico, could make competition tougher for GM in the coming years.

For now, the company is taking an aggressive stance, aiming to make its EV lineup more affordable and appealing. Will this strategy be enough to shake up the market and challenge industry leaders? The next few months will be crucial in determining the answer.

Source: electrek.co