DETROIT — General Motors next year plans to launch a Cadillac-badged financing brand for luxury customers and dealers, according to an internal memo obtained by Automotive News.
Cadillac Financial, which will operate as part of the GM Financial business, will include a concierge service, a new website and Cadillac-certified customer experience teams, according to a September memo to employees. GM Financial plans to launch the Cadillac-badged service in mid-2022.
Most automakers with a captive finance arm have established separate brands for luxury units. For example, Ford Motor Credit backs Lincoln Automotive Financial Services, and Toyota Financial Services supports Lexus Financial Services. Breaking Cadillac out of the GM Financial fold is part of a broader vision to create a more personalized and streamlined experience for the luxury brand as it leads GM's transition to electric vehicles.
Under the broad GM Financial umbrella, there is no difference between the financing experience for a Chevrolet customer and a Cadillac customer, said Ed Williamson, dealer principal of Williamson Cadillac-Buick-GMC in Miami.
He hopes Cadillac Financial will be a differentiator.
"The good news is they are trying to do something, and it's going to be constructive," Williamson said.