Cadillac Back To Selling Ultra-Luxury Cars To Vie With Rolls Royce
Cadillac is returning to a market segment it hasn't occupied in decades: ultra-luxury cars with six-figure price tags.
Photo Insert: The Cadillac Celestiq
General Motors debuted the Cadillac Celestiq on Friday, July 22, 2022, and the company expects it to outperform the finest in the world, according to CNN Business' Peter Valdes-Dapena.
The Celestiq, an electric vehicle, is likely to cost up to $300,000 when it arrives on market, according to the Wall Street Journal, a price that GM has not formally verified or denied.
GM has not yet declared a start date for actual production. The vehicle presented by GM is a "show car" version of the Celestiq, but officials have stated that the production version will look remarkably similar, except that it will be extensively customizable by individual buyers.
Cadillac has previously offered automobiles for six-figure sums, but they were usually Cadillac Escalades, slightly over $100,000 and laden with accessories.
The Celestiq pits GM's luxury brand directly against Bentley and Rolls-Royce, which frequently sell cars at these rates. Cadillac hasn't occupied this territory since at least 1957, when it offered the Eldorado Brougham, according to John Wiley, manager of valuation analytics at Hagerty, a company that closely monitors the collector car market.
Only 400 Eldorado Broughams were produced by GM, and they were constructed entirely by hand rather than on an assembly line.
When it was new, the Eldorado cost little over $13,000, while a Rolls-Royce Silver Cloud could be purchased for around $16,000, according to Wiley. (Adjusted for inflation, those figures are roughly ten times higher today.) According to Wiley, a Cadillac Eldorado Brougham is now worth twice as much as a Silver Royce Silver Cloud as a collectible car.