General Motors announced today that Cadillac had a very strong 2010, gaining more than 1.6 points of share during the year in the U.S. luxury market. Helped by the Cadillac SRX, CTS and the Escalade, the increase is the greatest of any brand in the luxury segment.
The overall U.S. luxury market grew 13 percent in 2010 to 1.4 million units.
In 2010, Cadillac total U.S. sales were up 35 percent to 146,935.
“Cadillac has been able to gain share while also strengthening the brand, a must for long-term success in the luxury market,” said Kurt McNeil, vice president of Cadillac Sales and Service. “Our positive momentum started with great new vehicles, but it also was carried forward with programs that provide Cadillac owners a higher level of service. Cadillac expects the customer experience to be further enhanced with many of our dealers planning significant upgrades to their sales and service facilities.”
Cadillac is hoping that the new SRX, CTS lineup including the new Coupe an Sport Wagon and a maintenance service plan for the first four years or 50,000 miles, help boost sales in 2011.
Check out the noteworthy trends for Cadillac in 2010 after the jump.
Cadillac’s Noteworthy Trends:
SRX Climbs Crossover Ranks: SRX has made an astounding run in the midsize luxury crossover segment. In the past year, the SRX advanced four places to No. 2, behind only the Lexus RX350. The SRX gained more than 6 points of market share in 2010 while the RX350 gave up share in this growing segment.
CTS Coupe Attracts New Customers: Based on preliminary data, the CTS Coupe appears to be attracting new, younger customers to the brand. About 40 percent of CTS Coupe buyers are trading in a non-GM vehicle.CTS Coupe also is resonating with sports car enthusiasts. Almost 20 percent of CTS Coupe buyers are opting for the high-performance V-Series model. In just its fifth full month of sales, CTS Coupe ranks No. 2 in its segment and is pressing the BMW 3-Series Coupe for leadership.
Escalade Remains King of Luxury SUVs: Escalade remained the clear leader in its class, accounting for 34 percent of the large luxury SUV segment in 2010. Large SUVs faced challenges early in the year with the United States in recession, but buyers returned in the second half of 2010. Escalade sales rose 4 percent for the year and 16 percent in December.
Cadillac Leasing Appeals to Luxury Buyers: Cadillac is successfully growing its leasing business, a financing option sought by many buyers in the luxury market. Cadillac’s retail sales in December consisted of 38 percent leasing up from about 20 percent in December 2009. Leasing accounts for about half of all retail sales for many major luxury brands.
– By: Omar Rana