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General Motors (GM) to Deliver Cadillac's 1st Luxury EV Lyriq
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General Motors (GM - Free Report) is geared up to deliver its first electric vehicle (EV) model, Cadillac Lyriq, in May. The U.S. auto biggie will begin the production of its EV crossover on Mar 21, 2022.
With a starting price of $59,990, Lyriq is the first vehicle in a new lineup of electric cars and SUVs the brand plans to launch as part of its efforts to go all-electric by 2030. Cadillac Lyric was unveiled in August 2020 as GM’s first next-generation Ultium EV architecture looks to give a tough competition to top EV firms.
Although production of Lyriq will start shortly at a plant in Tennessee and the vehicle is expected to arrive at dealer lots by May, the raging chip crisis-led sporadic shutdowns are likely to dampen volumes. Despite this, GM noted that Cadillac is on track to start Lyriq production per plan.
The brand will start taking official customer orders for the vehicle starting May 19. It anticipates a raging buyer count for the vehicle as Cadillac has already received 233,000 hand-raisers for the Lyriq, but ascertaining the actual number of buyers is a matter of time.
It noted that 96% of Cadillac dealers are equipped with the right infrastructure to sell EVs by May.
Cadillac has downsized its dealer number in the United States as it aims to sell all EVs by 2030. Some dealers have opted to take a buyout than investing in the chargers, service lifts and other tools required to sell and service EVs.
The number of Cadillac dealers in the country has increased to 928 from 554 in four years.
The firm’s Digital Retail Platform, an online tool that provides customers with a platform to learn about, shop for and buy vehicles in Cadillac’s EV portfolio, will encompass all its dealers from the third quarter of 2022 to provide a holistic experience.
GM is looking forward to breaking major grounds with its trailblazing vehicle.
GM’s shares have lost 27.1% over the past year, underperforming industry’s 15.8% decline.
Harley-Davidson has an expected earnings growth rate of 1.9% for the current year. The Zacks Consensus Estimate for its current-year earnings has been revised around 21.7% upward in the past 60 days.
Harley-Davison’s earnings beat the Zacks Consensus Estimate in all the trailing four quarters. HOG pulled off a trailing four-quarter earnings surprise of 77.59%, on average. The stock has rallied 7.2% over the past year.
LCI Industries has an expected earnings growth rate of 27.8% for the current year. The Zacks Consensus Estimate for current-year earnings has been revised around 16% upward in the past 60 days.
LCI Industries’ earnings beat the Zacks Consensus Estimate in three of the trailing four quarters and missed the same in the other one. LCII pulled off a trailing four-quarter earnings surprise of 12.86%, on average. The stock has declined 16.3% over the past year.
Tesla has an expected earnings growth rate of 40.7% for the current year. The Zacks Consensus Estimate for current-year earnings has been revised around 14.3% upward in the past 60 days.
Tesla’s earnings beat the Zacks Consensus Estimate in all of the trailing four quarters. TSLA pulled off a trailing four-quarter earnings surprise of 33.26%, on average. The stock has rallied 17.1% over the past year.
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General Motors (GM) to Deliver Cadillac's 1st Luxury EV Lyriq
General Motors (GM - Free Report) is geared up to deliver its first electric vehicle (EV) model, Cadillac Lyriq, in May. The U.S. auto biggie will begin the production of its EV crossover on Mar 21, 2022.
With a starting price of $59,990, Lyriq is the first vehicle in a new lineup of electric cars and SUVs the brand plans to launch as part of its efforts to go all-electric by 2030. Cadillac Lyric was unveiled in August 2020 as GM’s first next-generation Ultium EV architecture looks to give a tough competition to top EV firms.
Although production of Lyriq will start shortly at a plant in Tennessee and the vehicle is expected to arrive at dealer lots by May, the raging chip crisis-led sporadic shutdowns are likely to dampen volumes. Despite this, GM noted that Cadillac is on track to start Lyriq production per plan.
The brand will start taking official customer orders for the vehicle starting May 19. It anticipates a raging buyer count for the vehicle as Cadillac has already received 233,000 hand-raisers for the Lyriq, but ascertaining the actual number of buyers is a matter of time.
It noted that 96% of Cadillac dealers are equipped with the right infrastructure to sell EVs by May.
Cadillac has downsized its dealer number in the United States as it aims to sell all EVs by 2030. Some dealers have opted to take a buyout than investing in the chargers, service lifts and other tools required to sell and service EVs.
The number of Cadillac dealers in the country has increased to 928 from 554 in four years.
The firm’s Digital Retail Platform, an online tool that provides customers with a platform to learn about, shop for and buy vehicles in Cadillac’s EV portfolio, will encompass all its dealers from the third quarter of 2022 to provide a holistic experience.
GM is looking forward to breaking major grounds with its trailblazing vehicle.
GM’s shares have lost 27.1% over the past year, underperforming industry’s 15.8% decline.
Image Source: Zacks Investment Research
Zacks Rank & Key Picks
Currently, GM has a Zacks Rank #3 (Hold).
Better-ranked players in the auto space include Harley-Davidson (HOG - Free Report) , LCI Industries (LCII - Free Report) and Tesla (TSLA - Free Report) , each sporting a Zacks Rank #1 (Strong Buy), currently. You can see the complete list of today’s Zacks #1 Rank stocks here.
Harley-Davidson has an expected earnings growth rate of 1.9% for the current year. The Zacks Consensus Estimate for its current-year earnings has been revised around 21.7% upward in the past 60 days.
Harley-Davison’s earnings beat the Zacks Consensus Estimate in all the trailing four quarters. HOG pulled off a trailing four-quarter earnings surprise of 77.59%, on average. The stock has rallied 7.2% over the past year.
LCI Industries has an expected earnings growth rate of 27.8% for the current year. The Zacks Consensus Estimate for current-year earnings has been revised around 16% upward in the past 60 days.
LCI Industries’ earnings beat the Zacks Consensus Estimate in three of the trailing four quarters and missed the same in the other one. LCII pulled off a trailing four-quarter earnings surprise of 12.86%, on average. The stock has declined 16.3% over the past year.
Tesla has an expected earnings growth rate of 40.7% for the current year. The Zacks Consensus Estimate for current-year earnings has been revised around 14.3% upward in the past 60 days.
Tesla’s earnings beat the Zacks Consensus Estimate in all of the trailing four quarters. TSLA pulled off a trailing four-quarter earnings surprise of 33.26%, on average. The stock has rallied 17.1% over the past year.