Cadillac’s latest XTS launched in Guangzhou yesterday evening with prices ranging from RMB 349,900 to RMB 569,900 (56,000USD to 108,000USD) with both 2.0T and 3.6L engines being offered.
“True to its pioneering and innovative spirit, Cadillac has created many milestone masterpieces during its 110 years,” said Shanghai GM President Ye Yongming at today’s launch ceremony. “The new XTS articulates the brand’s persistence in innovation by combining dramatic styling with advanced technology, and subsequently displaying the unique personalities of its owners. In addition, the launch of the XTS reflects Shanghai GM’s effort to expand its presence in the Chinese luxury car segment. Our aim is to increase Cadillac sales to more than 100,000 units by 2015 and its share of the premium car segment to 10 percent by 2020.”
Cadillac has high hopes for the Chinese market with its ‘Double Ten’ strategy where it hopes to capture 10 percent of the Chinese luxury segment and sell 100,000 vehicles in China by 2015. Current sales are circa 2500 units per month giving them sales of around 30,000 units per year.
Cadillac hopes to hit its ‘Double Ten’ goal by launching one new model each year for the next five years and to create a new product line up with a mixture of coupes, sedans and SUV’s. Cadillac are also pushing the Cadillac User Experience (CUE) technology heavily as part of its plan for China, and also plan to further Chinese production of its vehicles in the next few years.