In the best of all possible worlds, all automakers would have about 60 days’ worth of inventory on every model, according to automotive orthodoxy the right balance between supply and demand.
The Cadillac ELR is shaping up to be one of the biggest automotive flops in recent memory — as of May 1, inventories had expanded to a 725 day supply, with Cadillac moving just 61 units in April.
At the start of April, dealers had 1,077 ELRs on their lots. As of May 14th, that number had increased to 1,517, with inventories far outpacing sales of the car.
In case there’s a run on this $80,000 version of a $40,000 Chevy, Cadillac is prepared. Otherwise, they’re screwed:
While a Cadillac spokesman insists that the inventory backup is a result of production scheduling, the rising inventories, lagging sales and heavy incentives paint a clear picture: the ELR is an overpriced dog that is finding few buyers compared to the much cheaper Chevrolet Volt and the much more prestigious Tesla Model S, to say nothing of the various plug-in and pure EV offerings from other car makers.
I’ve seen exactly one of these critters on the local roads, and this market has never been particularly Caddy-adverse; apparently we’re buying the CTS, which is a hair or three bigger — “bigger” counts for a lot when you’re talking Cadillac — and which costs maybe three-fifths as much on a slow day.