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GM Cadillac chief: New CT5 will replace 3 sedans; EVs coming

DETROIT - The head of General Motors' Cadillac luxury division said on Thursday the brand will shrink its lineup of sedans and expand its offerings of sport utility vehicles and hybrid and electric vehicles in response to market shifts. Expanding Cadillac's global sales is central to GM's overall profit strategy, and Cadillac has reported a 27 percent increase in worldwide sales through the first half of the year. However, in the United States, now the brand's second largest market behind China, Cadillac sales are down 1.6 percent and combined sales of the brand's four sedan models have plummeted 16.3 percent through the first half of the year. That has forced GM to order layoffs at two Michigan factories that build Cadillac cars, and raised questions about the long term future of the plants. "We have to rebalance our sedan portfolio," Johan de Nysschen told Reuters in interview, offering new details about the strategy. Cadillac will not directly replace the current XTS, CTS or ATS sedans when they end their life cycles in 2019, he said. Instead, Cadillac will use a single new car called the CT5 to appeal to consumers shopping for sedans priced between $35,000 and $45,000. New versions of the CT6 sedan will be offered to customers who want a larger car starting at $50,000. Sources had told Reuters last week that GM was considering ending production on six cars including the CT6 and XTS and models from Chevrolet and Buick. That report now appears only half-right as far as Cadillac is concerned. The new CT5 will be built at a factory near Lansing, Michigan, that currently builds the slow-selling Cadillac ATS and CTS models. A small luxury sedan to compete with the Audi A3 will be built in the same plant, de Nysschen said. Cadillac will offer more SUVs, starting with a compact model called XT4, followed by a larger SUV with three rows of seats due by 2019 to compete with vehicles such as Volvo's current XC90 model. Volvo, owned by China's Zhejiang Geely Holding Group, scored a public relations coup by announcing plans earlier this month to power all its vehicles with either hybrid or all-electric technology starting in 2019. The move challenges Tesla, which has eclipsed more established brands with tech savvy luxury buyers. Cadillac has plans "not dissimilar to what Volvo has announced," with more electrified vehicles launching in the second half of the next decade, de Nysschen said.

GM posts $4 billion third-quarter profit thanks to trucks and SUVs

DETROIT — General Motors is posting huge third quarter numbers, pulling in $4 billion in profit over three months after losing money due to the virus outbreak. GM's adjusted earnings were $2.83 per share, easily outpacing Wall Street's per-share projections of $1.43, according to a survey by FactSet. Revenue of $35.5 billion also edged out most expectations. Shares jumped almost 6% before the opening bell Thursday. The company swung back from a $806 million loss in the second quarter, when it was restarting factories shuttered for safety during the early stages of the pandemic. The Detroit automaker joined most global automakers in reporting better-than-expected earnings from July through September as sales across the globe started to rebound from coronavirus lockdowns, especially in China. GM sales in China jumped 12% in the third quarter, with sales of its Buick and Cadillac brands both rising more than 25%. In the U.S., GMÂ’s most profitable market, sales fell 9.9% in the third quarter compared with a year ago, but were a dramatic improvement over the 34% drop in the second quarter. Sales improved sequentially each month, the automaker said, an encouraging trend. GMÂ’s profit was boosted by higher-priced pickup trucks and large SUVs, which have seen strong sales in the U.S. through the pandemic. It was the best quarter on record for GM's Chevrolet Blazer. Sales of the Cadillac XT6 spiked 45% in the U.S. over last year. Large pickups also sold well. GM also said it was pumping $2 billion into its Spring Hill, Tennessee manufacturing plant to push its transition to produce electric vehicles. Last week, crosstown rivals Fiat Chrysler and Ford reported strong third-quarter net income. FCA said it made $1.4 billion for the period, while Ford earned $2.39 billion. Related Video: Earnings/Financials Buick Cadillac Chevrolet GM GMC

2020 Cadillac CT4 Review & Buying Guide | Cadillac recommits to the small sedan

The 2020 Cadillac CT4 is a brand-new entry into the baby luxury sedan space, replacing the ATS. With an excellent rear-wheel-drive chassis and a performance-oriented “V” trim (to be topped by a yet-wilder “Blackwing” model), the CT4 is aimed at the enthusiast end of the segment. Cadillac fields the lone American entry in this class, meaning the CT4Â’s main competitors — the Audi A3, BMW 2 Series Gran Coupe and the Mercedes-Benz A- and CLA-Classes — are all European. However, since it's a bit bigger than those and features a rear-wheel-drive platform (all-wheel drive is available), it's hardly an apples-to-apples situation. The Genesis G70 is perhaps a closer comparable. In any event, the CT4 is a compelling, American alternative that delivers excellent comfort, interior quality and driving dynamics at a price that strongly challenges the various competitors from Europe. What's new for 2020? The Cadillac CT4 is new for 2020, alongside the bigger CT5. You can check out our first drive of the hot CT4-V model for more on CadillacÂ’s new sedan strategy. 2020 Cadillac CT4 View 4 Photos What's the CT4's interior and in-car technology like? The Cadillac CT4 packs the sort of high-quality materials and convenience features one expects from an entry-level luxury model. The seats are comfortable and supportive, and in higher-end models, the front buckets are offered with heat, ventilation and massage features. The CT4 also boasts what GM calls a “sound-optimized” interior coupled with active noise cancellation and amplification to mitigate unpleasant frequencies and enhance desirable ones. In all, we find the CT4Â’s interior much more compelling than that found in other recent Cadillac products such as the new XT4 crossover. The infotainment system is controlled by an 8-inch touchscreen with an optional rotary-control interface. The base setup includes Android Auto, Apple CarPlay and Amazon Alexa integration and offers USB Type-A and Type-C connectivity and charging. Upgrades include navigation and multiple Bose audio packages, all of which bring with them wireless device charging. How big is the CT4? Like many of CadillacÂ’s previous sport sedans, the CT4 is a bit of an oddball size-wise for the segment it targets, stretching more than a foot longer than the Audi A3 and nearly 9 inches longer than the BMW 2 Series Gran Coupe. However, this doesn't translate into a comparable interior space advantage because of the CT4 rear-wheel-drive platform.