Is the Cadillac Electric Car Drowning in Negatives?
At a glance, there’s plenty to love about the stylish Cadillac ELR, GM’s (NYSE:GM) entry into the luxury plug-in market. However, a closer look at the sticker price and inside the car may reveal less than a consumer would expect for the MSRP of $75,000. In fact, it risks drowning in negatives before its scheduled release in January 2014, especially when compared to a Tesla (NASDAQ:TSLA).
Limited Electric Range
The most disappointing feature of the Cadillac ELR may be its limited range. GM estimates the car will be able to cover 30 to 35 miles on a full charge. At that point, the gas engine will kick in, giving a drivers more than 250 miles of driving before needing to fill up the gas tank. A Tesla Model S covers an EPA-estimated 208 miles on a full charge in the base 60 kWh model ($74,070) and 265 miles in the 85 kWh version ($81,070).
GM executives have mentioned the company is working on an electric vehicle with greater range, but the Cadillac ELR is limited in a glaring way. Its price point may take away another potential advantage it had over cars from Tesla.