Cadillac Is Killing Its Pricey ELR Plug-In Hybrid
Cadillac has reportedly opted to cancel any plans to continue producing its ELR plug-in hybrid coupe after watching the luxury hybrid’s sales fall last year.
According to Automotive News, Cadillac president Johan de Nysschen confirmed last week that the General Motors GM division does not plan a follow-up to the first generation of ELRs that launched at the end of 2013. The trade publication noted that ELR sales dropped 22% last year to only 1,024 vehicles, as dealers complained about the car’s high price tag of nearly $76,000 (with shipping).
Cadillac slashed the price of the ELR by $10,000 last year, though that cut failed to spark sales growth. Meanwhile, the debut of fellow GM brand Chevrolet’s new Volt—which shares a similar platform design with the ELR and is less expensive—with an expanded drive range had some in the industry wondering if Cadillac’s ELR might undergo a similar second-generation redesign. But de Nysschen told reporters last week that the brand “[does not] plan further investment” in the coupe, according to Automotive News.
Fortune wrote in 2014 about Cadillac’s trouble with slow demand for the pricey ELR, as consumers dubbed it “the $75,999 Volt” for its similar technology to its Chevy counterpart at nearly double the price.