The Cadillac Escalade saw its average transaction price (ATP) figure rise by almost eight percent over the course of Q1 2023, while Cadillac’s overall ATP figure fell.
According a Cox Automotive report, the average transaction price for a Cadillac Escalade in the three months from January 2023 until the end of March 2023 stood at $116,406, a 7.6 percent increase year-over-year. In addition, the extended-wheelbase variant – the Escalade ESV – saw its ATP number rise by 4.2 percent to $115,345 during the same timeframe. Meanwhile, sales of the Escalade and Escalade ESV fell 14 percent and 9.2 percent, respectively, to 5,523 and 3,705 units sold in Q1 2023, respectively.
This rise in Escalade average transaction prices trends with an overall rise in Cadillac sales, which saw an almost 30 percent from 28,261 units in Q1 2022 to 36,321 units in Q1 2023. This puts sales figures of the luxury marque near pre-pandemic levels.
Sales Results - Q1 2023 - USA - Cadillac
| MODEL | Q1 2023 / Q1 2022 | Q1 2023 | Q1 2022 |
|---|---|---|---|
| CT4 | +43.26% | 2,712 | 1,893 |
| CT5 | +37.39% | 4,593 | 3,343 |
| ESCALADE | -14.03% | 5,523 | 6,424 |
| ESCALADE ESV | -9.21% | 3,705 | 4,081 |
| LYRIQ | * | 968 | * |
| XT4 | +83.00% | 6,773 | 3,701 |
| XT5 | +45.90% | 7,285 | 4,993 |
| XT6 | +25.98% | 4,762 | 3,780 |
| CADILLAC TOTAL | +28.72% | 36,321 | 28,216 |
As shown in the chart above, the Escalade was actually the only Caddy to see a decline in sales, falling 12 percent to 9,228 units sold in Q3 2023 overall. Meanwhile, the Cadillac XT4 and Cadillac XT5 performed quite well, posting 83 percent and 46 percent rises, respectively, to 6,773 and 7,285 units sold in Q1 2023, respectively.
It’s worth noting that the Cadillac Lyriq wasn’t available in Q1 2022, and thus doesn’t have any sales numbers from that timeframe.
Despite the overall rise in sales, Cadillac incentive spending was down nearly 28 percent in Q1 2023 on a year-to-year basis. This represents an average incentive of $2,800 per vehicle, which was down from $3,871 per vehicle in Q1 2022. The average incentive spending across all four of GM brands in the first quarter of this year stood at $1,908 per vehicle.
Overall, total GM Q1 2023 sales in the United States – which include Chevy, Buick, GMC and Cadillac – increased more than 17 percent to 599,187 units. That’s a noticeable improvement over GM Q1 2022 sales of 509,108 units.
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Comments
Cadillac is selling cars in Houston for $20k-$40k over MSRP, I can not believe people are paying these insane premiums for this SUV.
I wanted an American made vehicle but had to settle with a Mercedes GLS 580 AMG that I bought for MSRP..
Wake up GMC!!!!!
This has nothing to do with Cadillac and everything to do with this scam of a dealership! General Motors has mention before that this is illegal and wants to know what GM dealerships are price gouging.