2010 Cadillac SRX Has Largest Gains in Sales and Residual Value in Segment
Sales up 493 percent, projected resale value up 17 percentage points
DETROIT, June 14, 2010; Since its debut last year, the all-new 2010 Cadillac SRX has posted the largest gains in its segment for both sales and projected resale value, establishing SRX as a leader among mid-size luxury crossovers.
SRX total U.S. sales through May have risen almost 500 percent, compared to the first five months of last year, outselling the Mercedes-Benz M-Class, Audi Q7, BMW X5 and Acura MDX. The average transaction price for the new SRX is more than $2,300 higher than the previous model.
Along with the sales and transaction price increases, SRX's projected resale value has risen 17 percentage points in the past year, the largest gain in its segment. SRX's projected resale value after 36 months is 48 percent of the initial purchase price, compared to 31 percent for the previous model, according to the May/June forecast by ALG, an industry benchmark for residual values and depreciation data.
"Cadillac has done all the right things to support higher residual values for the SRX," said Matt Traylen, ALG's Chief Economist. "The all new 2010 model is substantially improved, but was launched with a significantly reduced MSRP. This resulted in record low incentive spending for the SRX, lower reliance on fleet sales, a quicker turn time on dealer lots and ultimately a positive impact on brand value."
The SRX has remained in high demand since its launch last summer, said Kurt McNeil, vice president of Cadillac sales. The 2010 SRX delivered bold design to the fast-growing mid-size luxury crossover segment, he said.
"Residual value is a key indicator of the strength of the new SRX," McNeil said. "SRX has succeeded by offering distinctive styling, great handling and a host of features that help it stand out in the luxury crossover crowd."
Offered in all-wheel and front-wheel drive versions, SRX comes standard with a 3.0L direct injected V-6 engine. It has an optional 2.8L turbocharged V-6. SRX's available features include a cargo management system, pop-up navigation screen, adaptive forward lighting that swivels the headlamps in synch with vehicle steering, integrated hard drive for audio storage and pause-and-replay radio and a dual-screen system for rear entertainment.
Cadillac has been a leading luxury auto brand since 1902. In recent years, Cadillac has engineered a historic renaissance led by artful engineering and advanced technology.