Cadillac Plans to Double Sales and Profits by 2021
Cadillac's bold sales strategy involves introducing a new model every six months in order to boost both sales and revenue
Cadillac’s market position in the automotive industry is a little unsteady at the moment. While sales are up by 5.4 percent so far this year, that growth follows a period of declining sales.
However, fortune favors the bold, and Cadillac has some bold predictions for its future sales. As of right now, Cadillac plans to double its sales and profits during the next four years.
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This audacious prediction was first discussed during a presentation to analysts from the Deutsche Bank Automotive Conference. During this meeting, Cadillac told the analysts it expects its sales to increase 100 percent by the year 2021.
While Cadillac’s sales in the U.S. are currently on uncertain ground, its sales in global markets like China are far more healthy. In fact, Cadillac’s global sales are up by 35 percent.
Still, that’s quite far from an 100 percent sales increase. In order to generate an increase in vehicles sold, Cadillac will add several new models to its lineup by 2021.
The Cadillac XT4 crossover is set to arrive on dealership lots later this year. Meanwhile, a three-row crossover is currently in development for Cadillac’s lineup.
Cadillac will even add models to its passenger car collection, with the upcoming Cadillac CT5 and another unnamed sedan reportedly replacing the ATS and CTS. In all, Cadillac plans to introduce a new model to its brand roughly every six months.
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Cadillac also wants to see its profits double by 2021. New utility vehicle like the XT4 should help increase Cadillac’s profits per vehicle.
Compared to Cadillac’s current rate of sales, an increase of 100 percent during the next four years seems somewhat optimistic. However, if Cadillac can offer new models that meet consumer demands, then the brand doubling its sales by 2021 could be a very real possibility.
News Source: GM Authority