General Motors’ prestige luxury brand, Cadillac, is in the process of a well-known transformation, laying down a solid foundation for growth well into the future. And despite declining sales volume, Cadillac is reaping (some of) the fruits from its labor by seeing an increase in average transaction prices.
The average transaction price (ATP) for Cadillacs sold in June in the U.S. market topped $52,000, a $7,000 — or 15 percent — increase over the same period a year ago. The brand attributes the increase to ongoing product enhancements that are “transforming the brand and elevating its position in the luxury marketplace”.
“Our goals are to improve the quality of the business in the U.S., while maintaining global growth,” said Cadillac President Johan deNysschen.
The GM Authority Take
It’s not every year that an automotive brand experiences a $7,000 increase in ATPs. Here’s some evidence that Caddy is doing something right.