Cadillac is finalizing plans to expand its lineup of cars and crossovers up to 10 models by 2016, according to two people privy with the carmaker’s talks with suppliers. The product expansion plan is part of General Motors Co's strategy to transform its luxury brand into a global power. Cadillac is set to offer this year an ELR plug-in hybrid, considered as the luxury counterpart of the Chevrolet Volt.
In the next four years, Cadillac may also offer a flagship sedan, a small crossover and a small car that will rival BMW's 1-Series, the sources told Reuters. The expansion plans come as Cadillac suffered a sales decline in the Unites States in 2012, forcing it to drop from fourth to fifth place behind Honda Motor Co's Acura.
Bob Ferguson, vice president of global Cadillac, told Reuters in an interview at the Detroit auto show that the luxury brand currently has the “core of a very good product set” and is working hard at examining the options to make it better.
Ferguson affirmed their goal, which is to make Cadillac a truly global luxury brand. GM has been polishing Cadillac's image by producing excellent products, allowing the brand’s ATS model to grab the 2013 North American Car of the Year award Monday. Despite that, concerns remain on Cadillac’s chances for global success.