Cadillac bumped up the prices of the Cadillac CTS sedan 15 months ago and is now trying to undo the harm done by that move. The luxury carmaker is now chopping off prices of the CTS sedan by as much as US$3,000.
Dealers complained that Cadillac is trying to price its upcoming models head-to-head with its German rivals BMW and Mercedes-Benz.
Cadillac told dealers in a memo that the sticker prices on most 2015 CTS models will be reduced by US$1,000 to US$3,000. Some trim levels will now have added features. The new pricing is effective now.
Cadillac took this step “after receiving feedback from both dealers and customers” to “enhance its competitiveness in the marketplace and to help you sell more cars.” The comapny’s annual sales fell 7% last year despite of a 6% increase for the luxury market overall. The price reduction should be helpful in boosting sales.
Source: Automotive News