One might not immediately think of a Cadillac as being a young person’s vehicle, but the fact of the matter is that the luxury marque’s average purchase age has been decreasing over the last decade as it attracts a younger demographic.
Cadillac Society Executive Editor, Alex Luft, had the opportunity to chat with Cadillac chief John Roth at the 2023 North American International Auto Show (NAIAS). Roth revealed that the average purchase age of a new Caddy vehicle currently stands at 54. That’s a marked decrease over the marque’s average purchase age reported almost a decade ago in 2014, during which the average was 59.4 years old.
There’s no clear winner when it comes to factors that play into the decrease in the average age of Cadillac buyers, but a variety of aspects can have an influence. Brand perception, of course, plays a big part in what automaker gets a buyer’s attention and money, as is brand loyalty. Nostalgia can be a major selling point for older buyers.
Price also plays a role, especially in today’s economy. That has traditionally deterred younger buyers from purchasing luxury cars, as they typically have not had the same amount of funds as their older counterparts.
Younger buyers may be more interested in sporty vehicles or the newest technologies. Cadillac has certainly been a hit with younger buyers in recent history thanks to the high-performance Cadillac Blackwing models and Cadillac Escalade-V. The Cadillac CT4-V Blackwing and CT5-V Blackwing ultra-high-performance luxury sedans tend to attract buyers who are much younger than those of “regular” Cadillac vehicles, skewing the luxury marque’s average purchase age to the lower end of the spectrum. In fact, the CT4-V Blackwing average purchase age is 54, while the CT5-V Blackwing draws in buyers with an average age of 56.
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The explanation makes sense.
