Geez! It better pay for itself.
GM to Spend $12 Billion to Fund New Cadillac Models by 2020
GM to Spend $12 Billion to Fund New Cadillac Models by 2020
Bloomberg
By: David Welch
January 12, 2015
![]()
General Motors Co., working to revive its slumping Cadillac luxury brand, plans to spend $12 billion to develop eight new models by 2020 and two more in the next decade, the brand’s chief said.
Cadillac will focus on the so-called crossover sport utility vehicle segment, Johan de Nysschen said today at the Detroit auto show. Cadillac currently has just one, the SRX, while rival BMW has five and Audi has three in its lineup. De Nysschen said GM will add three SUVs as part of the expansion.
GM is spending on the brand to fund a new-car renaissance at Cadillac, whose U.S. sales fell 6.5 percent last year. The brand does about half of what rivals BMW AG and Mercedes-Benz sell in the U.S. Luxury SUVs is one area where Cadillac is lagging, de Nysschen said.
Cadillac will add two SUVs below the size of the SRX and one above it. GM, based in Detroit, is also planning a large flagship car for Cadillac. There is no immediate plan for a new ELR, which is a plug-in hybrid that runs using an electric drive system similar to the Chevrolet Volt. Cadillac would also like an all-electric car, but nothing is planned yet.
Cadillac is also planning a large, prestige sedan that will sit above the CT6 sedan, which goes on sale this year. Since the CT6 is close in size to a BMW 7-series, the future sedan should serve as a style showpiece for the brand, said Uwe Ellinghaus, chief marketing officer for Cadillac.
Full article available at link.
Bloomberg
By: David Welch
January 12, 2015
General Motors Co., working to revive its slumping Cadillac luxury brand, plans to spend $12 billion to develop eight new models by 2020 and two more in the next decade, the brand’s chief said.
Cadillac will focus on the so-called crossover sport utility vehicle segment, Johan de Nysschen said today at the Detroit auto show. Cadillac currently has just one, the SRX, while rival BMW has five and Audi has three in its lineup. De Nysschen said GM will add three SUVs as part of the expansion.
GM is spending on the brand to fund a new-car renaissance at Cadillac, whose U.S. sales fell 6.5 percent last year. The brand does about half of what rivals BMW AG and Mercedes-Benz sell in the U.S. Luxury SUVs is one area where Cadillac is lagging, de Nysschen said.
Cadillac will add two SUVs below the size of the SRX and one above it. GM, based in Detroit, is also planning a large flagship car for Cadillac. There is no immediate plan for a new ELR, which is a plug-in hybrid that runs using an electric drive system similar to the Chevrolet Volt. Cadillac would also like an all-electric car, but nothing is planned yet.
Cadillac is also planning a large, prestige sedan that will sit above the CT6 sedan, which goes on sale this year. Since the CT6 is close in size to a BMW 7-series, the future sedan should serve as a style showpiece for the brand, said Uwe Ellinghaus, chief marketing officer for Cadillac.
Full article available at link.
1 - 20 of 234 Posts
Please link us to the internal, unreleased, (nonexistent) Cadillac-specific balance sheet you saw that supports your claim that Cadillac is posting a net loss!
No doubt the "falling profits" will be reflected there, also. Can't wait.
Cadillac is NOT nor will be an independent make. They are separating on an administration/ planning/ engineering basis, NOT a financial one.
This move ("something I have been talking about for 43 years on these boards"
) harkens back to when all GM Divisions had largely autonomous operating budgets & departments, back when Cadillac dominated the domestic luxury segment. I hope they truly 'cut the apron strings' with Corporate and gain their own head. With the right people, Cadillac could really soar.
1 - 20 of 234 Posts
