According to an article in The New York Times, Cadillac is attempting to make a comeback after losing its dominance in the luxury market. The Times reports that the 117-year old brand is attempting its final comeback.
President Mark Reuss of General Motors, the company that oversees the Cadillac brand, has said that this is the brand’s last chance to regain its former glory and prominence, says the Times. He plans to rebrand the car as a technologically advanced luxury vehicle instead of the relatively unremarkable status symbol it has become.
According to the Times, a marker of the company’s decline is the percentage of buyers of certain age groups. Roughly 40 percent of Cadillac buyers are older than 65, which they report compares unfavorably to Cadillac’s luxury market competitors like Audi, for whom that age range hovers around 20 percent. Luxury brands target youth to promote the vitality of the brand, and becoming associated with older buyers is a death sentence for a car brand that’s spent a long time trying to shirk that image.
Cadillac has moved their factory back to Detroit after a brief stint in NYC to hunker down and start the redesign, in the hopes that the final revamp will be the one that brings the luxury, youth and covet-ability back to the storied brand. If it all works out, it’ll be the Cadillac of Cadillacs.