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Luxury car brands scrambling to avoid a blue Christmas

DETROIT — When financial markets surge to new records, sales of luxury cars usually rise, too. Instead, October U.S. auto sales reports on Wednesday showed that a collapse in sales of luxury sedans is accelerating. Consumers have gradually shifted over to luxury sport utility vehicles from sedans in the past decade, but the trend — which has occurred in both the non-luxury and luxury sedan segments of the auto market — was particularly pronounced in October. Sales of Daimler AG's Mercedes-Benz S-Class, long a global benchmark for large, premium sedans, plunged 49 percent in October, and are down 24.8 percent for the year to date. General Motors' Cadillac brand said it sold just 779 of its CTS sedans in October. Demand for that car, designed to compete with German luxury sedans, is down nearly 33 percent for the year. "There's still a significant portion of the market that wants a car, but I'm sure there were people who preferred a horse to a car at one point." Cadillac's best-selling model this year is the XT5 compact SUV, which has more than doubled sales from a year ago. The shift within the luxury vehicle market away from sedans toward SUVs of all sizes is forcing some of the most prestigious brands to scramble to add SUV models to their lineups or boost SUV production to meet demand. "In the short term, there will be pressure to add (consumer) incentives, cut production or both," said Cox Automotive analyst Michelle Krebs. "And we just don't see an end in sight to this trend." The Dow Jones Industrial Average has been trading at all-time highs, usually a good sign for luxury sedans, but as major automakers reported new U.S. vehicle sales for October on Wednesday, sales for passenger cars continued their slide while luxury SUV and crossover sales rose again. According to Kelley Blue Book data, in 2007 luxury sedans made up 7.6 percent of U.S. new vehicle sales, while luxury SUVs made up 4.2 percent. Through September this year, luxury SUVs made up just over 7 percent of the market, compared with 4.9 percent for luxury sedans. In the short term, luxury brands could use holiday season sales promotions to clear slow-selling sedans off dealer lots, analysts said. Toyota's Lexus brand said on Wednesday it will launch its "December to Remember" year-end sales promotion for the 18th straight year.

2021 Cadillac Escalade Interior Review | Tech-forward fortress

Of all the interiors that are vital to Cadillac’s success, the new 2021 EscaladeÂ’s is arguably the most important. ItÂ’s supposed to be the best GM can muster, and the previous generation was a distant second to the classically elegant Lincoln Navigator. Cadillac didnÂ’t try to copy LincolnÂ’s success with its redesigned full-sizer, instead opting to follow a more generic theme of tech-forward luxury. When we say tech-forward, though, we mean it. The 38 inches of curved OLED screens we covered in our Escalade infotainment review absolutely dominate the dash in a brazen display of opulence. There isnÂ’t much room for anything else to take center stage, but whatÂ’s there is extremely nice. Large swaths of wood trim stretch across the dash and also adorn a substantial part of the center console. ItÂ’s harder to find something that doesnÂ’t feel like soft-touch leather, wood or metal trim than it is to find cost-cutting materials. There are certainly some areas with the usual black plastic for buttons, but every car company that isnÂ’t Rolls-Royce resorts to plastic at some level. The seating position and ergonomics of the Escalade are a big step up from past models. There was a feeling of claustrophobia in previous Escalades with the whole interior being built up around the driver in an unfriendly manner. This Escalade tones that down with lower and flatter surfaces, along with just being bigger in general. That feeling of expansiveness is great for decompressing and relaxing in the available heated, cooled and massaging seats. Riding in the back is almost as lovely. Switching to an independent rear suspension and making the vehicle longer means more passenger and cargo space (10.3 cu-ft more than before with the third row up). The majority of this is realized in the third row (10.4 inches more than before), where even large adults can sit comfortably with a laid-back seating position. Before, if your knees weren't in your face, it's probably because you gave up and hitched a ride with someone else. A BMW X7 or Mercedes-Benz GLS will still outclass it for materials and third-row features, but the Escalade wins on sheer bigness. Getting back there is a breeze with a huge walkway, though putting the seat back into place is borderline annoying, requiring much more physical effort than a powered second row would. As big as the third row is, sitting in the second row is even better thanks to the massive dual screens mounted to the front headrests.

Despite De Nysschen saying it won't, Cadillac cuts struggling CTS prices

Ah, well that didn't last long. Not even two years after elevating the price of the then-new third-generation Cadillac CTS by $7,000, the company is now stepping back, telling dealers it will be slashing the price of the 2015 model by anywhere from $1,000 to $3,000. It seems that there are two reasons behind Cadillac's move. First, and most obviously, are its slumping sales, down seven percent last year. That figure is made worse, Automotive News reports, by the seven-percent gain made by the greater luxury market, not to mention gains from fellow American luxury brand Lincoln. Cadillac, meanwhile, also likely faced pressure from its dealer body, which AN reports hasn't been so keen on the price increases. The price reduction is something of a surprise following statements made by Cadillac President Johan de Nysschen shortly after he took office. In September of last year, the 54-year-old exec, who took charge of Cadillac in July of 2014, defended the company's decision to raise prices, telling Automotive News a price cut was "not going to happen." It seems current conditions contradict de Nysschen's statements, though. "We're taking what we've seen are the more desirable optional features for customers and making them more readily available," Cadillac's Dave Caldwell said of the price cut. "Once a car has been on the market for a while, it's not unusual to look at the customer behavior and try to optimize for it." In what's sure to be a pleasant surprise for anyone in the market for a CTS, the most expensive models are getting the biggest price cut, with the price on the Premium and Performance Collection sedans dropping $3,000, AN reports. The 2.0T will get a $2,000 drop, while certain optional extras will now be standard on the Luxury trim, including a panoramic sunroof, navigation and Bose stereo.