Update: Cadillac ELR Plug-in Hybrid "Sales Fail" Continues, Dealers Offering Up to $19k Off
July 11, 2014 3:34 PM
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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.
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Wrong Marketing Idea I suspect
7/11/2014 5:17:34 PM
I think the problem was GM decided to go after the wrong market here. I own a Chevy Volt myself and the car is well worth what I paid for it. It's been months since I last went for gas and the drive is smooth and the car handles much better and has greatly more bells and whistles than my original 2005 Corolla which was about half the price. Even after two years of ownership, I'm very happy with my vehicle.
When the ELR was announced, it seemed like to me another Volt with every feature they could think of. Keep in mind some of the things missing in the Volt like LED headlights was because GM realized the Volt might be too expensive for the average folk if they added it in. The ELR I suspect was everything that they had wanted in the original Volt.
Some folks buy cars for practical reasons. The Volt is expensive but it has glass smooth acceleration, runs on pure electric for most folks and really really cuts down on trips to the gas station. It's quiet and has enough bells and whistles if maybe too many at times. So asking a bit more than an average car is reasonable for some folks like myself who are interested in that.
The ELR however has everything in it including the kitchen sink so to speak which unfortunately puts it into unaffordable territory. So the only reason you'd want an ELR over a Volt is you really want all those features which seem a little excessive to me or you want the car as a status symbol. Unfortunately, try as GM might it's not a strong status symbol. So in the end, I don't think the ELR will do all that well despite all the efforts on GM's part.
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