The Cadillac SRX continued to dominate Cadillac Sales in June at 4,652 sold, followed by Escalade sales which were not quite 3K. Clearly the market for luxury cross-overs and trucks has recovered somewhat in this period of relatively low gas prices.
Cadillac notes in the GM press release:
Cadillac sales were up, with Escalade up 57 percent and SRX up 19 percent. It was Cadillac’s best June since 2008, and 57 percent of customers did not trade in a Cadillac.
Cadillac’s sedan sales were down, with total sales led by ATS, CTS, and XTS in that order. ATS sales were down 32%, CTS 10%, and XTS 24%. The ATS Coupe is just reaching the market. Cadillac is making changes to the logo to drop the wreath on new sedans. No word of other substantial changes to address slow sedan sales.
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The Cadillac ELR had its best month yet at 97 delivered to happy new Electric Cadillac owners. Dealers are offering substantial discounts on new ELRs which bring the pricing down from the $75-82K sticker. The ELR would have been well placed price-wise at $55K.
Cadillac Sales Summary
Where are the new V-Series? Cadillac is missing the long-expected ATS-V and the updated CTS-V. Although these would sell around 15-20% of each line, they offer some halo appeal. People are drawn into the showroom or sales consideration by fire-breathing, athletic Cadillac models, even if they “settle” for a less expensive selection.
Cadillac can address ATS sales by getting the model priced aggressively. Get the 2.5L standard model under $30K to compete there. Get the fully loaded premium 2L Turbo under $40K, and the 3.6L Premium under $45. The ATS as the entry level small Cadillac should not cost almost as much at the upper line CTS (!!).
What do you think? How would you improve sedan sales within the year?