Lower incentives, fewer fleet sales, quick-turning inventory extend momentum
Increased demand from retail luxury buyers drove Cadillac U.S. sales in December 12 percent higher compared with December 2011and 26 percent above November 2012. The brand closed 2012 with its highest retail sales total since 2007, due to popularity of the new ATS sport sedan, XTS luxury sedan and SRX crossover.
The new ATS Sport Sedan is averaging a segment-best just 25 “days-to-turn” – the average time a car remains in inventory before being sold. The new 2014 XTS luxury sedan is turning at a rate of 39 days, also much quicker than the industry average of 60 to 90 days.
“We’re building momentum in the market based on product strength,” said Chase Hawkins, vice president of Cadillac sales. “We’ve earned seven consecutive months of sales increases, while reducing incentives to the lowest level in more than a decade. It speaks to the strength of the new ATS and XTS, and our increasing ability to earn conquest sales.”
Sales of the new ATS jumped 38 percent in December compared to November. Among those who traded in a car and bought an ATS, more than half – 53 percent – were conquests from a rival automaker.
Cadillac sales to fleet customers declined 39 percent in 2012 to the lowest total since 1975, reflecting Cadillac’s emphasis on top-tier luxury retail consumers
SRX total sales were up 20 percent in December over the previous month, making 2012 the best retail and total sales year in the history of the SRX product line.