Cadillac South Korea sales decreased 50 percent to 72 units in February 2020 compared to February 2019.
Individual model sales performance was as follows:
During the first two months of the 2020 calendar year, Cadillac South Korea sales decreased 57 percent to 120 units.
| MODEL | FEB 2020 / FEB 2019 | FEBRUARY 2020 | FEBRUARY 2019 | YTD 2020 / YTD 2019 | YTD 2020 | YTD 2019 |
|---|---|---|---|---|---|---|
| CT6 | -61.54% | 25 | 65 | -69.57% | 42 | 138 |
| CTS | -76.47% | 4 | 17 | -56.25% | 14 | 32 |
| ESCALADE | -41.67% | 14 | 24 | -41.03% | 23 | 39 |
| XT5 | -21.21% | 26 | 33 | -32.14% | 38 | 56 |
| XT6 | * | 3 | * | * | 3 | * |
| CADILLAC TOTAL | -50.00% | 72 | 144 | -57.30% | 120 | 281 |
With the significant 50 percent decline in February, Cadillac sales have now accumulated seven consecutive months of decreases in South Korea. Combined with the dramatic decrease of 65 percent in January, which represented Cadillac’s lowest Korean registrations in recent years, the luxury brand’s sales volume during the first two months of the year fell to less than half of the result during the same time frame in 2019.
It’s worth noting that the negative performance seen during the first two months of the prior year (in 2019) was already depressed as a result of the luxury automaker discontinuing the Cadillac CT6 sedan with the turbocharged 2.0L engine, which was by far the most popular CT6 configuration, much like the CT6 was the most popular Cadillac model in South Korea.
The ongoing negative trend in Cadillac South Korea sales underlines just how badly Cadillac needs to begin selling its two newest crossover SUVs – the XT4 and XT6 – in the local Korean market. The XT4 has yet to launch in Korea as of this writing, despite being on sale in the U.S. for over a year, while the XT6 just went on sale in Korea during the trailing end of February.
Both models are built at U.S. plants and exported to Korea. However, given that the ongoing Coronavirus pandemic has brought Cadillac production to a halt, we don’t expect to see too many deliveries of any Cadillac vehicle, XT6 included. We also expect Cadillac sales to decrease as a result of COVID-19 in South Korea, as well as all other markets where Cadillac operates.
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