(Reuters) – Cadillac’s new boss believes General Motors’ premium brand could eventually sell ultra-luxury cars that retail for a quarter-million dollars by 2029.
“It is too early today for a $250,000 Cadillac,” said Johann de Nysschen, in an interview on Wednesday at the annual auto show here. “Fifteen years from now, it won’t be.”
Cadillac’s current flagship car, the XTS sedan, tops out at around $70,000 which is tens of thousands of dollars less than the range-topping models of such German competitors as BMW and Daimler AG’s Mercedes-Benz.
De Nysschen, a former import executive who was named Cadillac president in August, is overseeing a product blitz that will cost GM an estimated $2.5 billion over the next six years, he told Reuters.