Cadillac Coronavirus Financial Relief and New Car Incentives

Jeff Youngs | April 15, 2020

As the coronavirus continues to spread, touching virtually all parts of the globe, businesses both large and small are feeling the economic pain. In some cases, entire industries are in crisis. One such example is the U.S. auto industry, where dealer showroom traffic has slowed to a crawl and recent sales figures paint a grim picture.

Cadillac Coronavirus Financial Relief and New Car IncentivesIn response to the COVID-19 pandemic, automakers are doing everything they can to keep their current customers in good standing and the shiny new metal moving. From payment relief for existing customers to unprecedented new-car incentives to entice new buyers, automakers are pulling out all the stops. Many automakers are also leveraging their manufacturing expertise to produce much-needed personal protective equipment for frontline healthcare workers as well as ventilators and respirators for those infected with the disease.

Cadillac, the luxury flagship division of General Motors, is doing its part by offering payment deferrals to existing customers as well as low-rate financing on several of its popular models. To address concerns related to dealership sales department closures and social distancing, Cadillac is offering virtual tours of its products via Cadillac Live and promoting its “Shop. Click. Drive.” online shopping, purchase and delivery program. Existing Cadillac owners receive OnStar Crisis Assist services for a limited time, as well as three months of complimentary in-vehicle Wi-Fi services with 3GB of data at no charge.

If customers have questions about or need assistance with any of the above listed services, they are encouraged to contact the Cadillac Customer Care team at (800) 333-4223 or visit the “We Have Your Back” section of the Cadillac website.

Cadillac Customer Relief Programs

In order to provide owners a little relief from the financial carnage the coronavirus is inflicting on some families’ budgets, Cadillac is offering payment deferrals to existing GM Financial (GMF) customers. Those in need of help are encouraged to text “INFO” to 53721, message through the GM Financial mobile app, or contact the GMF Customer Experience team at 1-800-284-2271. Customers can also visit the GM Financial website.

Cadillac New Car Incentives

While not the groundbreaking 0% (APR) financing for up to 84 months promotion that GM is pitching through some of its other brands, Cadillac is offering some strong incentives on select models.

For example, 2020 models of its XT4, XT5 and XT6 crossovers now have 0.9% (APR) for up to 72 months plus a $2,000 purchase allowance plus deferred monthly payments for up to 120 days. This promotion is available to very well-qualified customers who finance with GM Financial. Note, however, that the program is not available on leases and you must take retail delivery by April 30, 2020.

In addition to the 0.9% financing offer, Cadillac is extending its First Responder Discount to professional healthcare workers. The discount is available through June 30, 2020. Contact your preferred Cadillac dealer for pricing.

Other Cadillacs – Escalade, CT5, CT6, and leftover inventories of the CTS – are available with a combination of cash rebates, conquest lease cash, and low interest rates, depending on the model.

Cadillac Factory Closures

Like all other brands in the GM stable, all factories producing Cadillac vehicles in North America have been idle since the third week of March. This is to ensure worker safety as well as to prevent inventory from stacking up on dealer lots due to the slowdown in sales.

GM had originally hoped to restart production on March 30. However, as confirmed cases of the coronavirus continued to climb, the automaker was forced to abandon that plan. There is currently no timetable in place for production to reconvene. GM has stated that they are closely monitoring the situation and will provide updates when it is pertinent.

Cadillac Economic Outlook & Sales Forecast

While there’s never a good time for a global pandemic, the timing of the coronavirus is especially frustrating for Cadillac.

GM’s flagship division was just starting to build momentum on the back of a total product makeover in which it is phasing out the ATS, CTS and XTS sedans while simultaneously launching the CT4 and CT5 sedans, as well as the XT6 crossover SUV. That’s a lot of alphabet soup, but when completed, Cadillac’s new-product initiative will better position the brand to compete against the likes of Mercedes-Benz, BMW and Lexus for the hearts and minds (and dollars) of the American premium vehicle buyer.

Following a rough March, Cadillac sales were down 15.8 percent for the first quarter of 2020 – more than three points worse than the total industry (-12.5%). With J.D. Power forecasting an industry-wide decline of up to 65% for April and a full-year sales tally as low as 12.2 million vehicles – down substantially from its pre-virus estimate of 16.9 million units – things will likely get worse for Cadillac before they get better.

In the end, however, it’s all about the product, and Cadillac’s long-term fortunes will ultimately be in the sanitized hands of American luxury car buyers.

What’s Next

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