Cadillac is slashing prices on its 2015 CTS sedan by up to $3,000.
Based on feedback from dealers and customers, Cadillac is reversing price increases that it imposed on the CTS 15 months ago. While the base price of $46,340 remains the same, top trim levels such as the Premium Collection CTS and the Performance Collection CTS equipped with the 3.6-liter V6 have had $3,000 removed from their sticker prices. That leaves the Premium-trim car selling for $62,765 and the Performance trim going for $58,365.
Models equipped with the 2.0-liter four-cylinder engine are set to see a $2,000 price cut. The top-end CTS Vsport powered by the twin-turbo 3.6-liter V6 retains its price of $71,880.
On top of the price cuts, Cadillac is adding more feature content to its cars as standard equipment. For example, the Bose sound system, navigation and UltraView sunroof, which used to cost about $2,155, will be offered as standard equipment on luxury-trim models.
Sales of the CTS have not been what Cadillac hoped for, while sales at the American brand overall have been slumping. The CTS was priced to compete with German cars like the BMW 5 Series, but that strategy has been hard to deal with for many customers. Cadillac has also been offering larger incentives over its German rivals, so although the cars were priced competitively, they were selling for less.
This is part of new CEO Johan de Nysschen’s strategy to turn the Cadillac brand around, although when asked if the CTS would get a price cut due to poor sales last September, dy Nysschen said “That’s not going to happen.”
[Source: Automotive News]
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