Cadillac says the ELR will be priced for the discerning few

Cadillac ELR

The Cadillac ELR may be based on the same powertrain as the Chevy Volt, but it’s aimed at quite a different market segment, and it appears GM intends to keep production low and prices high.

When GM unveiled the luxury PHEV in January, it indicated that the sticker price would reflect its exclusivity. But, with EV prices trending downwards – GM has announced a $5,000 price cut on the 2014 Volt – Automotive News wondered if Cadillac had revised its pricing plans for the ELR.

“Not at all,” said Cadillac Senior VP Bob Ferguson. “We’re really confident about that vehicle. We’re only going to make so many. I actually think you’re going to see a scramble for that vehicle.” Ferguson added that Tesla’s success with Model S is a sign that pricing is holding up well in the luxury segment.

Auto analysts seem to agree. IHS Automotive expects the ELR to sell only 2,100 units in the US in 2014. Jim Hall of research firm 2953 Analytics, says the ELR will be a halo car for Cadillac, and will be among the brand’s highest-priced vehicles.

 

Source: Automotive News