Like other “green” cars amid the ongoing trend of low gas prices, the Cadillac ELR plug-in coupe hasn’t been a very good seller. That appears to be the reason why the automaker announced today that it is significantly reducing pricing on the ELR for the 2016 model year.
Pricing on the 2016 Cadillac ELR is $65,995 with destination charges, which is $10,000 less than last year’s model, which cost $75,995. Buyers, however, will see a lower price tag, as Cadillac is advertising the new ELR at a price of $58,495, which already figures in the $7,500 tax credit. And aside from being cheaper, the 2016 ELR will also be a better performer. Thanks to a new software update, the ELR is now capable of 25 percent more horsepower and torque, while 0-60 mph times are now down by 1.5 seconds. The car’s top speed is now at a decent 130 mph with performance package, up from last year’s 105 mph top speed.
Cadillac says that the new ELR has “moved more in the direction of sportiness,” which is in contrast to how the previous model was marketed. But even with a sportier look and feel and better performance, the ELR is still capable of some decent mileage figures – the car can go a maximum 39 miles on its electric battery alone before the gas engine takes over.