How Cadillac’s F1 debut electrified its Australian sales (OK, new Optiq and Vistiq EVs helped too)
When Cadillac’s Formula 1 team lined up on the grid at the Australian Grand Prix for the first time this year, it wasn’t just a motorsport milestone.
For the niche luxury brand’s local operation, it landed at precisely the right moment.
“We had the benefit of hosting Cadillac’s first ever F1 race, which did wonders for us,” said Jess Bala, managing director of General Motors Australia and New Zealand.
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“It was a really awesome opportunity for not just the brand, but also the team here to really showcase what we can do.”
The race debut for the quintessentially American brand coincided with the tripling of the Aussie Cadillac lineup from the single Lyriq to the Optiq and the larger Vistiq (pictured top) battery electric vehicles.
Cadillac also slashed the price of the Lyriq by more than $30,000, a significant reset that Bala says was in response to a rapidly shifting market that has seen competition ramp up and many brands implement big price drops.
“We’re in one of the most saturated markets in the world,” she said. “That’s not changing anytime soon.
“The ability for us to be able to pivot when needed, get us on the radar of customers and on shopping lists – it just meant that we had to pivot that price.”
The convergence of F1, new models and a lower price is what marketing chief Heath Walker calls “the perfect storm for a director of marketing to have.”
While Cadillac doesn’t publicly report sales, the brand says there has been growth in interest across its growing portfolio since March, a trend it attributes to all three elements working together.
Despite a rolling back of EV interest in its home country largely due to the dropping of emissions regulations, Cadillac is holding firm on its all-electric strategy for Australia – albeit leaving the door slightly ajar for a future with some petrol.
“I’d never say never, but for now, very confidently, it is an EV plan,” said Bala.
“We will always look within the GM portfolio as to what is the right product and fit for our market and obviously the business at the same time. But for right now, we are EV only.”
And having three models gives Cadillac more opportunities to lure buyers in the notoriously loyal luxury market.
Now with the Optiq sitting at a lower entry point, $80,000 plus on-road costs, the Lyriq reset at $90,000 and the Vistiq undercutting the original Lyriq price at $116,000 plus on-roads, Cadillac has a spread that can reach different buyers while maintaining its luxury positioning headlined by bold styling.
Cadillac is also expanding physical retail outlets, announcing dealerships in Melbourne and Brisbane to complement the Sydney dealership.
One thing Cadillac does have in its corner is brand awareness courtesy of decades of appearances across various aspects of pop culture – as well as some distinctive designs – and now, the involvement in F1.
- Look out for Toby hagon;s reviews of the Lyriq and Optiq coming this weekend on EV Central.
