But what about the European market?
General Motors recently fired Cadillac president and CEO Johan de Nysschen not because he was a bad CEO, but because he wasn't a good fit for what Cadillac needs in order to survive in the long-term. The competition coming from Germany, Japan, and Korea is stronger than ever and will only gather strength. Survival, even for Cadillac, is not a guarantee. But the American luxury brand is regrouping and getting things in order. If this report from GM Authority via Cadillac Society is correct, then Cadillac's future has huge potential.
The report claims that at a recent presentation the automaker gave to investment bankers and analysts at the Deutsche Bank Automotive Conference, the automaker revealed plans to increase sales volume and profits two-fold over the next four years.
Double sales and profits by 2021? It's possible, and here's how: crossovers and China. Cadillac is already expanding its crossover lineup with the recent introduction of the XT4, set to arrive in American and Chinese showrooms very soon. It will join the XT5 and within the next couple of years, an all-new three-row crossover likely to be dubbed XT6.
A three-model crossover lineup is, in a word, vital. North America and China are the main markets. Not to be done away with entirely, Cadillac's sedan lineup will also soon be re-worked. As we previously reported, the ATS sedan is dead and we figure the coupe will be phased out around this time next year.
Both it and the CTS will be replaced by a single model, the CT5, in 2020. Cadillac previously went on record stating it launch a new vehicle every six months through 2021. By that time it will have introduced five vehicle lines. Although most of the above is not entirely new information, what we found surprising to see was what we didn't see: any mention of Europe. Cadillac desperately tried to make a dent in the European market, but it was proven, once again, to be dominated by the German brands, hence Cadillac's strategy to turn eastward and focus on its home market.