Cadillac vehicles aren’t exactly affordable, often selling for well over $70,000 on average. But that begs the question: how much does Cadillac actually make, in terms of dollars and cents? For one reason or another, Cadillac and its parent, General Motors, do not report financial results for the luxury marque individually, so Cadillac Society is breaking down the luxury marque’s approximate earnings for the second quarter of 2024 just below.
Cadillac Society Executive Editor, Alex Luft, delved into this very topic during the seventh episode of the Cadillac Society Podcast. Take a listen at the 26-minute mark to the video below, but if you’re a visual learner, keep reading below for an estimation.
First, let’s set the stage for how we will estimate Cadillac’s earnings for the most recent quarter – Q2 2024, which covered April, May and June. Cadillac sold 38,455 units during the quarter, a one percent drop compared to the same quarter a year ago. The Cadillac Escalade was the most popular vehicle in the luxury marque’s lineup, moving 10,069 units last quarter, followed by the Cadillac Lyriq (7,294), Cadillac XT5 (5,890), Cadillac XT4 (5,154), Cadillac XT6 (4,439), Cadillac CT5 (3,841), and Cadillac CT4 (1,768).
Sales Results - Q2 2024 - USA - Cadillac
| MODEL | Q2 2024 / Q2 2023 | Q2 2024 | Q2 2023 | YTD 2024 / YTD 2023 | YTD 2024 | YTD 2023 |
|---|---|---|---|---|---|---|
| CT4 | -35.10% | 1,768 | 2,724 | -35.58% | 3,502 | 5,436 |
| CT5 | -28.82% | 3,841 | 5,396 | -31.29% | 6,863 | 9,989 |
| ESCALADE | +38.60% | 10,069 | 7,265 | +50.17% | 19,204 | 12,788 |
| ESCALADE ESV | -100.00% | 0 | 4,290 | -100.00% | 0 | 7,995 |
| LYRIQ | +441.10% | 7,294 | 1,348 | +465.37% | 13,094 | 2,316 |
| XT4 | -10.11% | 5,154 | 5,734 | -19.78% | 10,033 | 12,507 |
| XT5 | -13.57% | 5,890 | 6,815 | -13.72% | 12,165 | 14,100 |
| XT6 | -16.32% | 4,439 | 5,305 | -10.15% | 9,045 | 10,067 |
| CADILLAC TOTAL | -1.09% | 38,455 | 38,877 | -1.72% | 73,906 | 75,198 |
Transaction data on a model line basis is not readily available, so we will use the average transaction price (ATP) instead. During May 2024, the ATP of a new Caddy was $73,076. In fact, ATPs held relatively steady in April and March as well, at $73,799 and $72,539, respectively. With that in mind, we can estimate how much revenue Cadillac generated during Q2 2024.
Multiplying the luxury marque’s May ATP (of $73,076) by the number of vehicles sold during Q2 2024 (38,455 units), we find that Cadillac’s estimated revenue was roughly $2.8 billion.
At first glance, that figure seems very healthy, but in the grand scheme of things, it’s really not all that impressive.
Let’s compare that $2.8 billion to the overall revenue generated by General Motors. Looking at GM North America specifically, we find that the automaker earned $36.1 billion in revenue across all of four of its brands – including Buick, Cadillac, GMC, and Chevrolet – during the first quarter of 2024. Though we are comparing Q2 2024 sales to Q1 2024 earnings, the revenue for the GM North America division typically holds relatively steady from quarter to quarter.
As such, the $2.8 billion in (estimated) revenue for Cadillac is a mere drop in the bucket compared to $36.1 billion earned by GM during the preceding quarter. As enthusiasts and champions of the Cadillac marque and its products, here’s to hoping that sales, and associated earnings are on an upward trajectory going forward.
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Raymond J Ramirez
So the Cadillac Lyriq is the best selling luxury electric vehicle in the U.S. or those numbers include international sales?
Mike
In the grand scheme of everything automotive industry with world revenue near $3 trillion, 2.8B isn’t much but it is something. Better than losing money. However, from my research, I see many car makers lost so much money on EVs and tech that I wonder if they are stirring the red to a dark brown.