Global Cadillac Sales Decline as Brand Phases Out SRX, Rolls Out XT5
Cadillac’s global sales for April totaled 19,983 vehicles, down 18% year-over-year. The brand attributes much of this decrease in sales to the phasing out of the 2016 SRX as the 2017 XT5 begins to make its way to dealerships across the country.
That fact is readily reflected in the numbers, as SRX sales were down 39% at a total of 5,630 units compared to 9,236 units in April 2015. This was the primary cause for Cadillac’s 28.9% sales slide in the United States, as well as the 34.5% decrease in Canada, 35.4% decrease in the Middle East, and 26.5% decrease in Mexico. Phasing out was also enough to drop the SRX 11.8% behind its pace through April 2015, bringing its current total to 25,837 units versus 29,294 units through the first four months of last year.
In its first full month on the market, XT5 sales totaled 381 units around the globe, bringing the grand total sold since launch to 396 units. CT6 sedan sales totaled 561, bringing that new model’s running total to 956 units.
“Earning transaction prices in the market above the European competitors reinforces both the rising stature of Cadillac in consumers’ minds, and our disciplined approach to target the pinnacle of premium,” said Cadillac President Johan de Nysschen. “Our crossover entry is in transition from the SRX to the XT5, creating a temporary inventory challenge. As that transition occurs, it is positive to see consumers placing a higher value on Cadillac’s product substance.”
ATPs for Cadillac in the United States were $54,251 in April, the highest for any full-line luxury brand.
Sales in China rose 13.1% at a total of 7,007 units, and Cadillac’s to-date sales are up 7.8% through four months at a total of 27,698 units.