After going on sale last year, the all-new 2010 Cadillac SRX has been a runaway hit for General Motors. Sales are up nearly 500 percent through May and the midsize crossover is outselling most of its rivals, including the Mercedes-Benz M-Class, Audi Q7, BMW X5, and Acura MDX. As you may have noticed, the SRX’s main competitor – the Lexus RX – is unfortunately not on that list.
Nevertheless, Cadillac has managed to increase the average transaction price of the new SRX to more than $2,300 higher compared to the previous model and the projected resale value of the new crossover has risen 17 percentage points.
According to ALG, an industry benchmark for residual values and depreciation data, the projected resale value of the SRX after 36 months is 48 percent of the initial purchase price, compared to 31 percent for the outgoing model.
“Cadillac has done all the right things to support higher residual values for the SRX,” said Matt Traylen, ALG’s Chief Economist. “The all new 2010 model is substantially improved, but was launched with a significantly reduced MSRP. This resulted in record low incentive spending for the SRX, lower reliance on fleet sales, a quicker turn time on dealer lots and ultimately a positive impact on brand value.”
“Residual value is a key indicator of the strength of the new SRX, said Kurl McNeil, Vice President of Cadillac sales. “SRX has succeeded by offering distinctive styling, great handling and a host of features that help it stand out in the luxury crossover crowd.”
We recently had a chance to drive both versions of the SRX, the 3.0-liter naturally-aspirated and 2.8-liter turbo, at Cadillac’s Culinary Test Drive Challenge. Have a gander of our thoughts and impressions by clicking here.
We have the presser and a full gallery of the SRX after the jump.