Cadillac to re-enter European market
Following a short hiatus, Cadillac says it will be returning this year to the European market. Cadillac left over half of its European markets during 2009 as sales fell far short of projections.
When General Motors signed up with Kroymans Corp. to help distribute Cadillac, Hummer and Corvette models in 25 European countries, it had envisioned sales of roughly 7,500 units each year under the Cadillac brand alone. In 2008, Cadillac moved just 4,556 units - which combined with the poor sales of the Hummer and Corvette models, led to the bankruptcy filing by Kroymans in March, 2009.
Following the bankruptcy, Cadillac's presence in Europe was reduced significantly, holding on to strongholds in Russia, the United Kingdom and Switzerland. Now, less than a year later Cadillac has announced that it will once again enter the European market. Cadillac's next attempt at breaking into the European market will be carried out by a newly created organization, Cadillac Europe.
Cadillac Europe will be responsible for managing the importation, distribution and marketing of select Cadillac models for the European market.
"Europe is an important market for Cadillac," said Bryan Nesbitt, Cadillac general manager. "Re-establishing distribution of our premium offerings is good news for those who seek import exclusiveness."
To help Cadillac transition back into the European market will be the addition of the new CTS Coupe, which is set to make its European debut at the upcoming Geneva Motor Show.