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"That's not going to happen…Either you have to bring your volume aspirations into alignment with reality and accept that you will sell fewer cars. Or you have to drop the price and continue to transact at the prices where you were historically. I think the logical conclusion is that it's better to build off a very solid base in terms of [product] credibility, charge a fair price for the car and realize you have to wait until the volume comes."
That quote was from Cadillac boss John De Nysschen in response to questions about cutting the prices of Cadillac models, which some dealers complained has risen too quickly. How quickly that's changed.
Automotive News reports that the 2015 Cadillac CTS models with a V6 engine will get a $3,000 price cut. Select models equipped with a 4-cylinder engine will get a $2,000 cut. The base price of $46,340 remains unchanged, while the top trim V-Sport with a twin turbo V6 engine will stay at $71,880.
A Cadillac memo described the move as "a more compelling price point for our returning CTS loyalists when moving up into a new, more sophisticated 2015 CTS." Inventories of the CTS remained bloated through much of the year, with many Cadillac dealers complaining that prices of the CTS had risen sharply, alienating existing customers. Despite a brand new model, CTS sales were down 4 percent year over year in 2014.
The post De Nysschen Back Tracks As Cadillac CTS Gets $3,000 Price Cut appeared first on The Truth About Cars.
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