The 2014 Cadillac ELR plug-in hybrid will carry a sticker price of $75,995 -- including destination charges -- when it becomes available for sale in January 2014. After a $7,500 federal tax credit, the ELR has a net price of $68,495. The high tag of the 2014 Cadillac ELR plug-in hybrid -- more than twice that of the Chevrolet Volt that shares the same underpinnings and powertrain -- indicates General Motors' plan to build the coupe in limited number so as to endow it with an aura of exclusivity.
"We're only going to make so many," Bob Ferguson, senior vice president of global Cadillac, told Automotive News in August, adding that there could be "a scramble for that vehicle." GM is set to start building the Cadillac ELR at its Detroit-Hamtramck site late this year. Interested buyers could acquire the plug-in hybrid through a nationwide network of around 500 Cadillac dealerships certified to sell and service the coupe. Cadillac currently has about 940 dealerships in the United States.
According to GM, buyers and prospective customers also will have their own "ELR Concierge Representative" trained in "white glove customer care" via a phone call. The reps could provide information on battery care, home charging, service scheduling and other issues. The high price of the ELR comes as carmakers initiated price cuts on their electric vehicles and plug-in hybrids due to weaker-than-expected consumer demand.
In August, GM trimmed the price of the Volt by $5,000, to $34,995 including destination. It followed similar moves for the Nissan Leaf and Ford Focus Electric.
In the same month, Ferguson remarked that he views the success of Tesla as an indication that pricing is firmer for electrified vehicles in the luxury segment than in volume brands. GM is targeting wealthier buyers for the ELR by endowing it with bold, angular styling and bespoke interior. The ELR's cabin features soft-touch materials, real wood accents and available carbon-fiber trim.