The Cadillac CT4 saw a year-over-year rise of 10.5 percent in average transaction price or ATP during the second quarter of 2023, while over the course of the same time period, Cadillac brand ATP inched upward by 4 percent overall, and GM ATP also rose 4 percent.
The average transaction price for the Cadillac CT4 amounted to $55,018 during the three months of April, May, and June 2023 according to a late July report by Cox Automotive. Compared to first quarter 2023 ATP of $53,313, second quarter ATP for the CT4 increased 3.9 percent quarter-over-quarter.
From the perspective of units sold, Cadillac CT4 sales volume amounted to 2,724 units, or a 4 percent rise year-over-year from Q2 2022. Cadillac itself boosted its volume to 36,321 vehicles sold during the quarter, a 29 percent jump from last year’s Q2 volume and, as Cox points out, an increase “essentially returning the luxury brand to pre-pandemic volumes.”
Sales volume averaged across all four GM brands surged from 578,507 vehicles in Q2 2022 to 689,095 units in Q2 2023, or a 19 percent increase. While pre-pandemic sales were often close to or in excess of 750,000 vehicles in recent years, GM’s number of units sold is edging closer to that level again.
The Cadillac CT4 took a slot among the brand’s top three performers during the second quarter of 2023. The Cadillac Escalade took first place with a 35 percent year-over-year leap in sales volume. The CT4 came in second with its 29 percent surge, while the third-place performer was the Cadillac Escalade ESV at 12 percent gains.
Incentive spending for Q2 2023 was second highest for Cadillac out of the quartet of GM brands, jumping 18 percent to $3,115. Buick incentives grew by a considerably bigger 79 percent, climbing from $1,077 in 2022 to $1,923 this year.
Chevy incentives rose at about half the pace of Cadillac’s, increasing by a moderate 9 percent. GMC incentives actually dropped year over year, declining 18 percent. Overall, second quarter incentives for The General as a whole climbed 14 percent from 2022 to 2023, growing from $1,754 to $2,006.
As a reminder, available powertrains for the Cadillac CT4 vary by trim level. The Luxury 350T, Premium Luxury 350T, and Sport 350T variants are motivated by the turbocharged 2.0L I4 LSY gasoline engine developing 237 horsepower and 258 pound-feet of torque. Power reaches the wheels via the GM eight-speed automatic transmission, while the drivetrain is either RWD or AWD.
Meanwhile, the Premium Luxury 500T trim is powered by the turbocharged 2.7L I4 L3B gasoline engine, generating 310 horsepower and 350 pound-feet of torque. The Premium Luxury 500T features the GM 10-speed automatic transmission, again with both rear-wheel drive and all-wheel drive options.