GM is introducing the Electric Cadillac Escalade, known as the Escalade IQ, as a test of their EV strategy and a profitable brand for General Motors.
"The Escalade is one of the lynchpin or capstone vehicles for GM. It is the sweet spot of their image and profitability," said Tyson Jominy, J.D. Power vice president of data and analytics. "It certainly defines the Cadillac brand. Beyond that, it's an extradentary profitable brand itself for General Motors."making it GM's luxury EV brand.
Auto insights firm Edmunds reports the average transaction price for an Escalade was $115,500 through the first half of this year. That places it below the industry-leading Mercedes-Benz G-Class SUV at more than $202,000, but above nearly 300 other vehicles, excluding exotics such asSales of Escalades have grown in importance to the brand, representing upward of 30% of Cadillac's U.S. sales in recent years.
Rory Harvey, who previously led Cadillac before becoming head of GM North America in June, described the strategy as "a stunning proposition in terms of having the two variants" that will allow the company to better juggle production with demand. "The intention is to not take anything away from the ICE Escalade … and that's one of the challenges. How do you do a vehicle as good as that and then up your game," he told CNBC.The vehicle has grown into a status symbol, highlighted in hundreds of songs, TV shows and movies for the rich, stylish and powerful.
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