Sep 23, 2014 10:24 AM
GM to move Cadillac brand HQ to New York City
The Associated Press
DETROIT (AP) Cadillac is moving its headquarters to New York next year to be closer to more people living lives of luxury.
General Motors also says the high-end brand will become a separate business unit, giving it more freedom to chase global growth.
Cadillac's U.S. sales are down nearly 5 percent this year, even though luxury vehicle sales and the overall U.S. market are growing. German rivals are responsible for much of the luxury growth.
Autodata Corp. says Audi sales are up nearly 15 percent, BMW is up almost 12 percent and Mercedes-Benz up 9 percent.
Cadillac's leaders will move to offices in Manhattan. GM is still determining who else will move. The company says technical product development teams will remain in the Detroit area, and manufacturing will not change.