15 months ago, Cadillac announced that it would be raising the price of the new CTS. This move worried dealers as it would cause buyers to look away. It seems their fears were founded as sales of the CTS this past year dropped 3.8 percent when compared to last year. Cadillac is doing something about that.
Automotive News got their hands on a memo issued to Cadillac dealers yesterday which announced that it would reduce sticker prices on most 2015 CTS models by $1,000 to $3,000. It also plans on increasing the amount of standard features in the CTS.
"We're taking what we've seen are the more desirable optional features for customers and making them more readily available. Once a car has been on the market for a while, it's not unusual to look at the customer behavior and try to optimize for it," said Cadillac spokesman David Caldwell.
An example of a price cut in action is the CTS Premium Collection equipped with the 3.6L V6. Originally costing $65,765, the model will now have a new price of $62,765.
The price cuts are shift in strategy for Cadillac. Last September, Cadillac President Johan de Nysschen said that price cuts were off the table. de Nysschen believes the brand needs to charge more to be more in line with the German competitors, along with increasing resale values and improve the brand's image.
Source: Automotive News (Subscription Required)