Cadillac broadened its luxury portfolio by introducing a full-size
sport-utility vehicle at the start of the 1999 model year. Based on General
Motors' full-size sport-utility platform, the new vehicle represents the first
product in a long-term strategy to give Cadillac a significant presence in the
luxury end of the sport-utility segment.
"Entering this market next fall represents an acceleration of our plan
to do so a few years later. We are doing this because of greater than
expected growth in demand for luxury sport utility vehicles,"
said John F.
Smith, Cadillac general manager and GM vice president.
"This new sport
utility will offer an excellent opportunity to attract new customers —
especially younger, upscale buyers — to Cadillac showrooms."
Ronald Zarrella, GM vice president of North American Operation’s
vehicle sales, service and marketing, said the new product demonstrates
GM's ability to take quick action to bring Cadillac into this market.
"While a sport-utility vehicle was already in Cadillac's portfolio
plan, this offering enables Cadillac to respond to customer needs more
quickly than originally planned,"
Zarrella said.
"The luxury sport-utility
segment has tripled in one year, and we are moving swiftly to take
advantage of this opportunity by committing to delivering the product less
than one year after making the decision."
"With both Cadillac and GMC offering luxury sport utilities, we expect
to double our share of this hot-growing segment while responding to the
growing demands of luxury customers,"
Zarrella added.
"For Cadillac, the new entry is the first in a series of vehicles that
over time will combine the strengths of today’s SUVs with the refinements
and technology found in Cadillac passenger cars,"
Smith said.
Smith said the broader portfolio means dealers can offer more choices
to people who shop Cadillac, and can retain more loyal customers.
"More
than 50 percent of our customers lease. These customers tend to be
younger, and when they come back to the showroom after two or three years,
we'll be able to offer them an expanded choice of luxury products,"
Smith
said.
"This new luxury sport utility is another important step in our
long-range plans to revitalize Cadillac,"
Smith said.
This new entry will be the third step in a series of additions to
Cadillac’s portfolio, which began with the introduction of the Catera
entry-luxury sedan in the 1997 model year. The newly introduced 1998
Seville will go on sale in December and was designed to meet the needs and
wants of prestige-luxury customers around the world.