General Motors Co. plans to introduce new Cadillac models to increase its sales by more than double and surpass Toyota’s Lexus as the world‘s fourth best-selling luxury car brand. GM chief executive Dan Akerson wants to transform Cadillac into a global player in the luxury car market, and bring it into position wherein it could rival the world’s luxury bestsellers in BMW, Audi and Mercedes-Benz.
According to a person privy with GM’s plans, the company aims to hold the fourth luxury car spot currently held by Lexus within 10 years. However, for the plan to be successful, Cadillac must introduce the right new models to the market, said the source, adding that plans were still private.
According to J.D. Power and Associates, Cadillac must find a way to extend its reach to buyers younger than Ann Romney, Mitt Romney's wife, who drives two SRX SUVs. Ann, who is turning 63 this April, is about the same age as the median Cadillac customer in 2011. Thus, Cadillac needs to attract younger buyers if GM aims to become the fourth largest luxury carmaker.
"We are working on more new Cadillacs than at any point in the brand's history," Don Butler, GM vice president for Cadillac marketing, said in February, adding that GM is currently is discussion over the best way to become a global player.
Mark Reuss, president of GM North America, revealed recently that GM is deciding on several vehicle options for Cadillac. Executives at GM are thinking of producing a sedan larger than the XTS, an SUV smaller than the SRX, and a new Escalade built on the same architecture as the Buick Enclave. [source: Autonews]