WardsAuto sources say the large Cadillac CUV was slated to arrive in 2017 as an ’18 model. Persisting fears it might overlap with the popular Buick Enclave and GMC Acadia contributed to its cancellation.
The automaker also doubles a charge it planned to take in the second quarter related to earlier recalls to $400 million. It took a $1.3 billion reduction to its first-quarter earnings related to recall costs.
On the large-pickup side of business, marketing exec Rick Scheidt says the automaker is “over the hump” in terms of building an inventory with a sufficient selection of body styles and powertrain options.
GM delivered 254,076 cars, trucks and CUVs last month, compared with 237,646 in like-2013, according to WardsAuto data. The automaker likely saw its market share bump back over 18% from 16.7% in March.