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Cadillac To Move Headquarters Out of Detroit to New York City

Julia Sun
9/23/14 4:35 PM EDT
Cadillac is moving its headquarters to New York City in 2015 in hopes of getting closer to the luxury lifestyle. GM's management, including CEO Mary Barra, believe Cadillac's move away from Detroit will help its brand image. Cadillac's new President Johan de Nysschen said, "We want to put a little bit of distance between Cadillac and the rest of the General Motors entity so that we can begin to put together a team that is able to give 100% mindshare to meeting the challenges of the premium market." Cadillac's sales have fallen nearly 5% through the end of August. Meanwhile German companies such as Audi and BMW have been shipping out more luxury cars than other automakers. Manufacturing and technical product development will stay in Michigan. Only the executives and marketing team will call the Soho area of Manhattan their new home.
Stock quotes in this video: GM

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