Cadillac is cutting the price of the 2016 ELR plug-in electric car by about $10,000, but will add more power and torque.

The 2016 ELR new will start at $58,495 if a buyer uses an available $7,500 federal tax credit, making the list price $65,995. This is a better deal compared to the manufacturers' suggested retail price of $76,000 for the 2015 model.

The ELR is a combination of luxury and efficiency that can be driven between 37 and 39 miles on batteries only. The price adjustment comes after dealers have only sold 311 ELRs in the U.S. this year through March. That number has increased from the 180 sold a year earlier during the same period, but it's well below Cadillac’s expectations.

"ELR's combination of leading technology with stunningly attractive design is unlike any other coupe in the luxury segment," said Johan de Nysschen, Cadillac president. "The upgraded ELR offers enhanced driving performance for buyers seeking uncompromising luxury and exquisite craftsmanship and electrification technology."

According to the Detroit Free Press, the 2016 ELR will also include the following changes to its steering and suspension: revised calibration of the HiPer Strut front suspension and the continuous damping control; a stiffer rear axle; stiffer bushings for the front lower control arms, cradle mounts and Watts link in the rear suspension, and revised brake hardware.

A modified Sport mode option will also be available. This feature combines the engine and electric motor power allowing the vehicle to accelerate from zero to 60 MPH in 6.4 seconds. Check back to for more information about the 2016 Cadillac ELR as it’s released.