Update: Cadillac ELR Plug-in Hybrid "Sales Fail" Continues, Dealers Offering Up to $19k Off
July 11, 2014 3:34 PM
comment(s) - last by
GM has only sold 390 ELRs so far this year
Many people laughed out loud when General Motors
priced its Cadillac ELR plug-in hybrid car at $75,000
. The laughter grew even louder when GM pitched the ELR as a logical competitor to the
BMW 6-Series Grand Coupe
Well, there was definitely no laughter coming from GM once the
dismal sales numbers for the coupe started rolling in
. Through April 2014, only 241 ELRs were sold. Through June 2014, that number had only risen to 390 vehicles. GM was so desperate to move the vehicles that it offered $5,000 in incentives (per vehicle) just to get people to test drive the car along with $3,000 in incentives for buyers and lessees.
Today, we’re hearing about even more bad news for GM with regards to the ELR — or good news if you’re still in the market to purchase one.
is reporting that one Cadillac dealership in Maryland is offering up to $13,600 in discounts on the ELRs just to get them off the lot.
Likewise, dealerships in Austin, Texas and Bradenton, Florida are offering up to $12,000 off the vehicle. Also keep in mind that the a $7,500 federal tax credit is still in effect (if you qualify) in addition to various state credits/rebates that are available. Combine the $7,500 federal tax credit with the $13,600 discount from the Maryland dealership, and you’re looking at over a $20,000 price cut on a vehicle that hasn’t even been on the market for a full year yet.
As some of our commenters have pointed out, $55,000 is probably still too much to pay in their minds for what is
essentially rebodied Chevrolet Volt
with a plush interior.
While GM is still struggling to find buyers for its ELR, Tesla Motors is having no trouble selling its $69,000+ Model S electric sedan. For Q1 2014,
Tesla sold 6,457 Model S sedans
and is expecting global deliveries of 35,000 vehicles for all of 2014.
Updated 7/11/2014 @ 3:34PM
Cadillac dealership in Ellicot City, MD
is actually offering up to $18,985 off new ELRs, which is actually quite... shocking.
This article is over a month old, voting and posting comments is disabled
RE: Taken From Another Thread
7/11/2014 10:01:45 AM
That's not $35k worth of improvements, which is the point.
Also, I thought the "luxury" car makers figure out over a decade ago that nobody wants to buy a rebadged version of a cheaper car which is what this is. It's a rebadged Volt with some improvements, not an entirely new vehicle, which is what you expect when you spend $75k.
"What would I do? I'd shut it down and give the money back to the shareholders." -- Michael Dell, after being asked what to do with Apple Computer in 1997
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