DETROIT -- Cadillac said today that its track-ready 2016 CTS-V sedan will start at $83,995 when it goes on sale in late summer.
That's a considerable jump from the previous generation of CTS-V models -- they started in the mid-$60,000s -- but about $10,000 lower than the cars against which the 640-horsepower machine will be shopped: BMW's M5 and the Mercedes E63 AMG.
Cadillac said in a statement that U.S. dealers will begin taking CTS-V orders this week. Its rollout will follow the introduction in coming weeks of the smaller ATS-V coupe and sedan, which starts at $60,465.
The CTS-V is powered by a 6.2-liter supercharged V-8 capable of hitting 200 mph and scooting from 0 to 60 mph in 3.7 seconds.
The car "is essentially two cars in one: a luxury sedan with sophisticated road manners and a track-capable sports car with awe-inspiring performance,” Cadillac President Johan de Nysschen said in the statement.
"This type of car is exclusive, the domain of the few who can access this level of incredible capability," de Nysschen said. "V-Series matches or overtakes the finest cars in this elite class, while being more accessible.”
Both the M5 and E63 AMG start at $93,600, including shipping.
The CTS-V's sticker offers a glimpse into Cadillac's pricing strategy under de Nysschen, who took over in August. Dealers in recent years have complained that Cadillac got too aggressive on pricing for models such as the CTS and compact ATS sedans by assigning stickers that are on par with the German stalwarts.
De Nysschen, while insisting that Cadillac must price its cars to reflect the cost of matching or beating the performance and quality of the Germans, has acknowledged that Cadillac's lack of brand cachet relative to BMW, Mercedes and Audi makes it tough to price at parity.
The price spread between the ATS-V and its peers is smaller than that of the CTS-V relative to its rivals. The ATS-V starts at $60,465, including shipping, vs. BMW's M3 ($62,950) and Mercedes' C63 AMG ($63,925).
Early ATS-V reviews have been favorable.
"BMW should be afraid," auto critic Marc Noordeloos wrote in his Automobile magazine ATS-V review, gushing over the car's track performance. "Very afraid."
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