Report: Cadillac exec even admits the Cadillac ELR was overpriced
The Cadillac ELR seemed like a solid entrant into the luxury world as a new, frugal coupe for the conservative minded, sporting the same platform and drivetrain as the Chevrolet Volt.
The only problem was, that most of us knew it was just a gussied up Volt with two doors chopped off and infinitely better looks, but wasn’t worth the initial purchase price of $75,995.
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As a result, Cadillac offered a huge discount with plenty of incentives to finally readjust the price to around $58,495. Over the past 18 months, Cadillac has only managed to move 1,835 units.
Cadillac’s Uwe Ellinghaus even admitted “the MSRP was, indeed, a mouthful,” according to Reuters.
No kidding.
Source: Bloomberg
