When Cadillac revealed its all-new 2020 CT5 at the 2019 New York Auto Show, many were skeptical whether or not it would satisfy the list of necessary improvements over its CTS predecessor. Competition is fiercer than ever and the CT5 has big expectations, to say the least. While we'll reserve final judgment until we get some wheel time, the CT5 is already looking very promising when it comes to pricing.

Cadillac has officially announced pricing for the 2020 CT5 and, comparing the base models, it's way less than the outgoing CTS with a starting price of $37,890, including destination. All-wheel drive adds $2,600. That will get buyers the 2.0-liter turbocharged four-cylinder good for 237 hp and connected to a 10-speed automatic transmission that sends power to the rear wheels. The outgoing 2019 CTS base model began at $46,995, and it also came with less standard features.

The CT5, by contrast, has a range of standard items, including driver-assist systems like forward collision alert and automatic emergency braking. There's also a 10-inch touchscreen, keyless push-button start, OnStar, and Active Noise Cancellation and sound optimization. Not bad at all for under $40k. The automaker also notes the CT5, thanks to its fastback styling, offers more interior space than competitors like the BMW 3 Series, Mercedes C-Class, and Audi A4.

Moving up the trim latter, the CT5 Premium Luxury begins at $41,690 with RWD and $44,780 with AWD. The CT5 Sport with AWD bases at $45,290. Yes, that's still over $1,000 less than the outgoing CTS base model, which also came powered by the same turbo four. Well done, Cadillac.

It must also be noted – because Cadillac specifically pointed this out – the above prices do not include Super Cruise. Pricing for that will be announced shortly. Same goes for the 2020 CT5-V. It will be powered by the familiar 3.0-liter twin-turbo V6, now good for 355 hp. Of course, the CT5 we're anxiously waiting to see revealed is the supposed Blackwing variant, which we just learned could come powered by the 6.2-liter supercharged LT4 V8 with upwards of 650 hp.