A total of 259 new Cadillacs were reported as registered in South Korea in October 2018, an increase of 86 percent compared to October 2017. The increase comes after several drops in sales volume during the first two quarters of 2018.
Individual model sales performance was as follows:
- Cadillac ATS sales increased 7 percent to 31 units, including 0 units of the ATS-V
- Cadillac CTS sales increased 12.5 percent to 36 units, including 0 units of the CTS-V
- Cadillac CT6 sales increased 135 percent to 132 units, including 53 units of the CT6 and 79 units of the CT6 Turbo
- Cadillac XT5 sales increased 213 percent to 47 units, with all units sold being of the XT5 3.6 variety
- Cadillac Escalade sales increased 85 percent to 13 units
- Cadillac does not market the XTS nor the Escalade ESV in South Korea
In the first ten months of 2018, Cadillac South Korea sales increased 11 percent to 1,679 units.
Sales Results - October 2018 - South Korea - Cadillac
|MODEL||OCT 2018 / OCT 2017||OCTOBER 2018||OCTOBER 2017||YTD 2018 / YTD 2017||YTD 2018||YTD 2017|
The Cadillac Society Take
Cadillac’s October sales performance in South Korea shows that the brand has finally turned a corner in the market following months of depressed sales levels. We believed that the prior declines in Cadillac sales in the market were caused by negative consumer perception following the restructuring of Cadillac’s parent firm, General Motors, which was an ongoing process during the first quarter of 2018.
Specifically, the restructuring proceedings were covered extensively by the media, with the overwhelming majority of this coverage portraying GM and its Chevrolet brand in a negative light. Prior to the finalization of the restructuring agreement, rumors ran rampant that GM would completely withdraw from the Korean market if it didn’t get the concessions it was looking for. Though Cadillac was not directly mentioned during this coverage, its image still suffered as a result of its association with General Motors and Chevrolet, likely causing consumers to become reluctant in investing in a Cadillac as a result of an uncertainty about the brand’s future in the local South Korean market.
About The Numbers
- All percent change figures compared to Cadillac October 2017 sales, except as noted
- Cadillac South Korea sales figures represent vehicle registrations rather than raw sales volume