The average transaction price of a Cadillac vehicle reached a record high in Q1 2021, while retail sales and dealership profit were also up significantly.
According to Automotive News, the average transaction price for Cadillac a product in the first three months of the year was a record-setting $58,550. The automaker’s retail sales also rose by 43 percent year-over-year to 36,200 units – its best first-quarter sales performance since 2014. Dealerships saw a record-high return on those sales, too, at 4.3 percent.
Cadillac North America vice president Mahmoud Samara, who only moved into the role last August, said the retail performance of Cadillac’s current line of fuel-powered vehicles bodes well for the brand as it continues to make major investments in its all-electric future.
“As you invest in the future, momentum today is as important,” Samara told AN. “This is not about promise making. This is about promise keeping. That promise has been kept today and will continue for the future with Lyriq and our EVs beyond Lyriq as well.”
The new fifth-generation Cadillac Escalade is certainly a major factor behind the record-setting transaction prices. The updated SUV enjoyed a high ATP of $102,183 throughout Q1 2021 on sales of 9,842 units. The Escalade is also the best-selling vehicle in the United States with an ATP of over $100,000.
Cadillac will be happy to see that customers are willing to pay big bucks for its vehicles, as its coming line of EVs won’t be cheap. The Cadillac Lyriq EV, which will begin arriving at dealerships in early 2022, will start at $59,995 and prices will likely rise rapidly with options and extras applied. The Lyriq is roughly the size of a Cadillac XT5, which is priced from $43,995 in the United States.
The average vehicle transaction price across all GM brands was up seven percent year-over-year in Q1, as well, coming in at $44,204. Vehicle transaction prices have been slowly rising in recent months, with industry average transaction prices reaching more than $40,000 for the first time ever in Q4 2020, as well.
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Comments
Ah American Financial stupidity at its finest.
#ThrowingAwayMoneyIsasAmericanAsApplePie
Evan: And yet, I’m almost certain there are more millionaires and maybe billionaires in the USA than in most any other developed country. Would you agree?
China would disagree.
Even more Important is the US having a wealth inequality index near that of 3rd world African nations.
You think rich snobbery like that is sustainable? If so you will be in for a rude awakening.
What… are you even trying to argue here? I don’t think this is an adequate forum for your…. “concerns”.
Save your moral crusade for your blog.
Correction: Driven solely by the Escalade. Paying 58K for any other current Cadillac model is questionable.
Paying $100,000+ for an SUV that will depreciate 60%+ over 4 years.
That’s another example of financial stupidity.
60% depreciation over 4 years is pretty typical of most new vehicles
And that just makes it even more stupid to buy a new car.
Still 60% off $100,000 is a lot more than 60% off $30,000.
Of course, if everyone stopped buying new cars, there will be no used cars.
i’d bet most of these vehicles are leased and the cost is written off as a business expense.
Until that tax benefit is taken away.
Let’s see how long that subsidy last with Biden in office.
He said business expense you moron, not stimulus. Go find another hill to die on.
up trim CT’s are worth around that, but yeah the XT lineup is kind of blah.
Why is it that we never see or read all the nasty comments about “Mary” on articles like this? I may not be a huge fan of hers, but there’s a lot of people on here who just love to hate on her. I too have my share of criticisms of GM (gm), but let’s give some credit to GM as they are doing a lot right.
BTW, those are some good numbers!
catering to just the wealthy isn’t a great way to gain market share and gain new buyers, who will become repeat buyers. She is slowly destroying the company and the stock will eventually reflect that, actually kind of has been over the last month. She needs to bring production of a mass market competitive b/c segment vehicle to the United States in order for me, personally, to invest a single nickel in lowercase gm.
Obviously BMW and Mercedes are near bankruptcy.
h4cksaw: I’m not sure where all this is coming from. I though you seemed to have fairly good comments on here most of the time. But these things you are saying today (or maybe have been saying but I just missed it??) are really causing me to scratch my head.
The wealthy are what all companies are going for in the long run. It’s why they offer lower price brands and models, in order to get (hopefully) those same people to move up-scale down the road. And to give you just a couple examples of vehicles GM has that cater to lower to middle income levels:
Spark
Base Malibu
Base Bolt
Base TB (ya, we all know you thing they are junk).
Trax
Encore
Base Encore GX
Base Terrain, etc, etc.
So where are you coming up with this stuff? And what will you be saying when Toyota finally stops selling the Camry (as sales keep going down, they will and the same with Honda and the Accord). Or maybe Toyota and Honda will just put the Camry and Accord names on another type of crossover. Then what?
Spark- decent but barely big enough to be B segment
Base Malibu- CVT junk box
Base bolt- next to no demand and price exclusive
TB and GX- Chinese engineered junk motor
Trax/ encore- extremely dated, tho decent
Terrain- not quite entry level… And blah…
The Corolla has seen an increase in sales over the last year… Even if they change up the Camry, which they very well could when Mazda introduces their RWD platform since they openly share technology… They still offer a fantastic entry level vehicle. Lowercase gm made the decision to abandon that with the US made Cruze and Sonic… Just really short sighted. Mary acts like she can see the future, but she should be more worried about what is selling now… And it’s very clearly not the Bolt.
h4cksaw: Got it. So go run GM then. You have all the correct answers.
Evan: Oh, forget it. You’re not worth saying it.
Amen.
Plus the wealthy are losing their moral authority especially with their behavior during the pandemic.
THE AVERAGE WOULD BE EVEN HIGHER IF CADILLAC SOLD A LARGE LUXURY CAR. THESE CHEVROLET’S AND BUICKS WITH CADILLAC NAME PLATES DO NOT IMPRESS ME AND $200,000 FOR A PROPER CADILLAC IN 4 YEARS IS NOT GOING TO WORK FOR ME. I HAVE HAD TWO CADILLACS ALL MY LIFE, BUT I MAY HAVE TO BUY A LC500 LEXUS TO KEEP ME HAPPY OVER THE NEXT FEW YEARS.
They sell the CT5.
Can’t wait for my 2022 Escalade!!!!