Cadillac Trims Price on CTS Sedan

CTS-V

On Wednesday General Motors Co.'s Cadillac unit boosted content and cut prices on its redesigned 2015 model CTS sedan by as much as $3,000, Automotive News reports.

Johan de Nysschen

The adjustment trims hefty price increases of $6,000-$15,000 announced when the larger next-generation model was introduced last autumn. Cadillac tells dealers the price cut is to "enhance competitiveness" and help them sell more vehicles.

Cadillac hiked prices last year on reengineered models in a bid to compete directly with BMW and Mercedes-Benz. AN says CTS sales have tracked the performance of the midsize luxury car market overall since then but only because of customer incentives that averaged $9,200 per vehicle.

Dealers have complained that the higher sticker price for the CTS has hurt sales to returning customers. Last year Cadillac President Johan de Nysschen declared the brand was ready to sacrifice volume to elevate its image.