The CT5 was officially reduced by 70,000 yuan in less than three months, and some models of Cadillac and Buick followed up with price reductions

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Following BYD's launch of a new round of price war after the Spring Festival, the number of car companies and models joining the wave of price cuts has increased day by day. Recently, SAIC-GM's luxury brand Cadillac and mainstream joint venture brand Buick have also officially announced price cuts for some of their models in order to gain more market share.

On February 21 this year, Cadillac posted on social platforms that the price of the new Cadillac CT5 luxury model was 219,700 yuan. It should be pointed out that the all-new Cadillac CT was launched on December 29 last year, with a price range of 289,700 yuan to 341,700 yuan. In less than three months, the price of the entry-level Cadillac CT5 luxury entry-level model was officially reduced by 70,000 yuan.

The official drop of the Cadillac CT5 luxury model is not small, you must know that the official starting price of the Cadillac CT4, which is one level lower than it, is also 219,700 yuan. After the official reduction, the price of the Cadillac CT5 has entered the price range of mainstream joint venture B-segment models such as the Camry, Passat and Accord.

From the perspective of the car, as one of Cadillac's main sales models, Cadillac CT5 will lower the car purchase threshold to 219,700 yuan is a very sincere move. Previously, the old Cadillac CT5 entry-level model was a fashion type, and the current Cadillac CT5 luxury model is priced at the same price, which is equivalent to an increase in equipment without a price increase.

At present, Cadillac has four models on sale, with prices ranging from 219,700 yuan to 341,700 yuan. According to the car, it is understood. All Cadillac models are equipped with a 2.0-liter four-cylinder turbocharged engine with a maximum power of 174kW and a maximum torque of 350Nm. In terms of transmission, the Cadillac CT5 is equipped with a 10-speed automatic manual transmission.

Cadillac has slashed the starting price of the CT5 in an apparent attempt to achieve higher sales. According to the data, for the whole year of 2023, Cadillac's cumulative sales in the Chinese market will be 183,000 units, a decrease of 3,000 units from the same period in 2022. Among them, the sales volume of the main sales model Cadillac CT5 was 88,000 units, accounting for 48.1%.

In the Chinese market, annual sales of 200,000 units is a threshold for second-tier luxury brands. Cadillac, one of the second-tier luxury brands, has also crossed this threshold. Of course, in 2023, Lexus, which is also a second-tier luxury brand, will fail to sell more than 200,000 units throughout the year, with sales of only 181,000 units, a year-on-year increase of 3%.

In addition to Cadillac, the Buick brand has also recently lowered the starting prices of some of its models. On February 21, Buick launched the Buick E4 value-added model, with a total of four models and a price range of 159,900 yuan to 229,900 yuan. According to the car, Buick E4 is a medium and large pure electric coupe SUV based on the Aoteneng pure electric platform.

On June 19, 2023, the Buick E4 was launched for the first time in the Chinese market, with a total of four models and prices ranging from 189,900 yuan to 259,900 yuan. Now it seems that the price of the Buick E4 value-added model has dropped by 30,000 yuan compared with the price of the old model. This round of price adjustment of Buick E4 has reduced the price overlap with Buick E5 to a certain extent.

It is worth mentioning that today Buick also adjusted the price of Buick E5, in addition to adding two new models of Pioneer Pro and Zhixiang Pro version, it also lowered the guide price of Buick E5 Zhixiang standard endurance version, Zhixiang long-range version, Zhenxiang standard endurance version, Zhenxiang long-range version and Avia four-wheel drive version, with a maximum reduction of 29,000 yuan.

According to Che Ze, the official prices of Buick E5 Pioneer Pro and Zhixiang Pro version are 169,900 yuan and 188,900 yuan respectively. The two new cars are equipped with smaller capacity lithium iron phosphate batteries, while the pure electric range is also 30km to 515km less. However, Buick has upgraded the configuration of the two new cars.

Among them, the Pioneer Pro model has added front seat heating, front seat electric adjustment, steering wheel heating and other configurations, and the Zhixiang Pro model has added advanced perforated seats, trunk electric opening and closing, 360-degree panoramic image, APA automatic parking assistance and other functional configurations. At the same time, the new car has also been upgraded to the latest eConnect intelligent connection system, providing Migu Kuaiyou Kugou Music, QQ Music, etc., and adding a variety of voice voice talent options.

Whether it's Cadillac or Buick, the purpose of choosing to cut prices is to gain more market share in their respective segments. After entering 2024, the competition in China's auto market will only become increasingly fierce. Faced with this situation, both joint venture brands and domestic brands have to join the price war in exchange for more sales in order to survive in the Chinese market.