When I was beginning my PR career in the late 18th century, my bosses would often refer to a client’s/prospect’s product or service as aspiring to be the ‘Cadillac’ of its space.
In those days, Cadillac was synonymous with luxury and status.
As we now know, that was then and this is now. Aside from a few drug dealers and pro athletes who like to tool around in tricked-out Escalades, no one goes near the Cadillac brand. In fact, there’s new proof that, when it comes to luxury, the tables have really turned on the once mighty brand.
According to a Scarborough Research/Radio Advertising Bureau study, Volkswagen owners have a media household income of $77,914 vs. $59,565 for Caddy drivers. Volkswagen? Ouch! I can remember when the VW bug was seen as a low-end, counter-culture means of transportation to and from the Woodstocks and Monterrey Pop Festivals of the era. Now, though, VW is clearly leaving Cadillac in the dust.
Caddy is in a freefall and I, for one, see no way for them to avoid the abyss. When their aging owners finally die so, too, will the brand.