Automotive News recently ran a feature on the worst industry blunders of 2014, and put Cadillac’s $75,995 pricetag for the plug-in ELR at the top of their list. The luxury automaker revealed the MSRP of the ELR in October of last year, raising questions about General Motors’ pricing strategy for the car.
As AN points out, the high sticker price of the ELR was meant to convey exclusivity and excellence to consumers, but it ended up being out of most customer’s range. Cadillac has managed to sell 1,192 examples of the car through to November (some at steep discounts), well below analysts’ projections.
We here at GM Authority think the ELR program would have been more successful if it launched before the Volt, that way GM would have avoided the “overpriced, rebadged Volt” comments while simultaneously making the Volt look like a bargain in comparison.
Maybe Cadillac will get its pricing strategy right with the successor to the ELR. Or, better yet, maybe it can find some customers with enough cash in their wallet to pay their asking price.