DETROIT -- General Motors plans to introduce 10 all-new or redesigned Cadillacs within the next three years, executives said last week.
Within the next year, the company plans to show off a redesigned production version of the CTS sedan and the next generation of the Escalade sport-utility vehicle, said Don Butler, Cadillac's vice president of marketing.
The plan reflects the automaker's bid to capture a larger share of the luxury vehicle market. The 10 vehicles, which were not all disclosed, include the all-new ATS compact sedan and XTS large sedan already introduced this year. The list does not include a refreshed SRX crossover, which will be introduced later this year.
GM's goal is to "restore Cadillac to be the standard of the world," Butler said.
Butler declined to say when the new CTS and Escalade vehicles would reach showrooms.
Cadillac also hinted that it plans to extend its reach into other markets throughout the world. Right now, the brand is strongest in the U.S. with a small but growing footprint in China, Europe and the Middle East.
Before the introduction of the XTS and ATS, GM sold Cadillacs in only 50 percent of luxury segments. With the ATS set to hit showrooms within days, Cadillac offers products in 80 percent of luxury segments.
GM's new product plans also include the production of the ELR, an all-new electric luxury coupe, which the company officially announced last year.
"The way I like to describe that is it is a fantastic, phenomenal-looking luxury coupe that happens to be electric," Butler said.
The new CTS will "build on the positive hallmarks we've established with the CTS -- that's been an award-winning vehicle for us," Butler said.
In its global push for Cadillac, GM will find new markets, Butler said.
"You can't be a luxury brand without being global," he said. "Using U.S. and China as our foundational pillars, you will see us begin to broaden our global footprint and begin to move these products into other areas throughout the world."
For now, Cadillac's focus is trained on making the ATS and XTS a success. GM sold 1,739 XTS vehicles in July as sales geared up. Some dealers, however, still are getting their first XTS deliveries.
The compact ATS, which GM hopes will battle with strong competitors like the BMW 3-Series and Mercedes C-Class, started production at GM's Lansing Grand River plant and will hit showrooms within days.
GM placed a big bet on the ATS, launching an ambitious advertising campaign during the Olympics in an effort to lure customers from its competitors.
"What I can say with confidence is we are absolutely in the conversation," Butler said. "We are in the conversation in a meaningful way. We are really excited about what this vehicle means for us in the marketplace."
Chase Hawkins, Cadillac's new vice president for sales, said the Olympics commercials drove extensive foot traffic to Cadillac's 943 U.S. dealers. But dealers didn't have the ATS yet.
"There is a lot of demand to get into ATS," he said.
Cadillac expects to boost the percentage of buyers who lease its vehicles with the introduction of the ATS. Right now, the brand's lease rate is 37 percent, but Butler said that could approach 40 percent after the ATS hits the market.
The brand's rollout in China trails the U.S. The XTS, for example, won't hit showrooms in China until the end of this year, spokesman David Caldwell said.
In Europe, where consumers are conserving cash in the midst of a sovereign debt crisis that has pummeled the industry's profitability, luxury buyers are pulling back, Hawkins said.
But the company has no plans to stop pursuing luxury buyers there, he said.
"For us to be a strong global player, we've got to be a player in Europe," Hawkins said.
Courtesy of Indystar.com
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