It’s a good time to be in the luxury car business. Cadillac just recorded its second-highest sales mark in the brand’s 115-year history. Worldwide, the company delivered 356,467 vehicles last year, reflecting a 15.5% increase over the previous year. The biggest growth market for the company was China where sales were up over 50% in comparison to the previous year. There was also a good chunk of sales growth coming from the rest of the world as export sales grew 10%.
The international growth was a huge factor. Commenting on the great numbers, Cadillac President Johan De Nysschen said, “The resurgence of the brand is underscored by our attaining the second-highest total sales figure in Cadillac’s 115-year history. Our objective of rapidly establishing a second volume hub for the brand to complement our U.S. operations has been attained, as our Chinese business grew exponentially, leaving us well-positioned for sustained growth going forward.”
The brand’s top-selling product was the XT5 crossover. That vehicle alone was responsible for 40% of the units delivered with 143,905 sold worldwide. Global sales of the ATS remained strong this year as well, up 17.2%.
Looking stateside, average transaction prices continued to tick higher. The average transaction this year in the US was north of $54,000. That gave Cadillac the second-highest average transaction price among major automotive brands in the US. Speaking of the U.S. numbers, De Nysschen added, “In the U.S., our focus on high-quality business has seen overall revenue growth being supported through higher transaction prices, while Cadillac residual values continue to strengthen, leaving us well positioned for 2018 and beyond, in preparation of our new product offensive starting with introduction of the XT4 later this year.”
Despite the jump in global sales and the increased transaction amount for U.S. units, sales in the States declined this year by 8%. This was the first year that more Cadillacs were sold in China than the US, making it Cadillac’s largest market. 175,489 units were sold in China compared to just 156,440 in the U.S. If Cadillac continues to see huge growth in China then expect to see another year of historic sales in 2018.