In this day and age, a decrease in pricing is a rare occasion. Model year changes usually come with a small price increase, but Cadillac begs to differ with its first battery-electric vehicle, the Lyriq.

For the 2024 model year, the Cadillac Lyriq will see a decrease in its pricing – from a $62,990 starting price for the 2023 model year to "around $60,000," according to the automaker's consumer website. That pricing is for the base rear-wheel-drive, single-motor trim, and includes the destination charge.

Meanwhile, the all-wheel-drive 2024 Lyriq will have a starting price of "around $64,000" – also down by a bit from $64,990 for the 2023 model year.

Gallery: 2023 Cadillac Lyriq

However, that move to have competitive pricing in the luxury mid-size EV market will not come without a trade-off in terms of standard equipment.

In a statement sent to Motor Authority, spokesperson Paige Tatulli said that Cadillac "adjusted the pricing to reflect the content of the vehicle." This means that the base Cadillac Lyriq could lose some standard equipment to reflect the lower pricing, though the automaker has yet to announce which ones will be removed.

Cadillac is still in the pre-order stage of the 2024 Lyriq. A refundable $100 pre-order amount is required to get in line. Deliveries are expected to happen in the spring of 2023.

The Lyriq was initially offered with a $59,900 base price for the RWD Debut Edition, which was said to have sold out in 10 minutes. That was a special price for Cadillac's first EV customers; the regular production Lyriq RWD went up to its regular 2023 model year pricing just months after.

Of note, the Cadillac Lyriq RWD makes 340 horsepower (253 kilowatts) and 325 pound-feet (440 Newton-meters) of torque from a single motor. Its 100-kilowatt-hour battery is rated to provide an EPA-estimated range of 312 miles (502 kilometers).

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