: No-sale costs GM $10 million

01-13-04, 06:05 PM
No-sale costs GM $10 million

Automotive News / January 12, 2004

Auto shows are meant to stimulate sales, but Cadillac officials nixed a lucrative offer at the Dubai show in the United Arab Emirates in December. Cadillac displayed the Sixteen concept at the show, which draws wealthy buyers from the Middle East. Cadillac spokesman Jeff Kuhlman says one wealthy show-goer offered $10 million for the 1,000-hp super-luxury vehicle. "He left his cell phone number," Kuhlman says. But GM doesn't sell concept cars because they're not designed for real-world use and because GM likes to keep them for future reference. Mark Hogan, senior vice president for advanced vehicle development, says of the hefty offer: "It came into my office, and the question was, 'Is it possible?' And the answer was, 'No.' "

01-13-04, 11:40 PM
Are you really surprised?
That Sixteen prototype is worth much more than $10 million. It is also one of the most complete and finished concepts in history.

01-14-04, 01:13 AM
Arabs can afford it! A friend of mine knows someone who taught school there for a couple of years, and even the kids in class have gold plated cell phones, watches, etc! Practically everything is gold-plated there. 10 million, that's just a drop in the bucket. There are many rich families there who have unlimited access to money, and I hope Cadillac doesn't get any ideas because of this and charge more!! ;)

01-14-04, 09:39 AM
Anybody here ever watch the movie "Tucker?"

I'll bet GM doesn't sell the concept cars because they know that they're not going to last more than a month under normal use.

El Dobro
01-14-04, 08:22 PM
Off hand I can guess at two reasons for GM not selling the car. One would probably be some sort of liability problem where it has to stay under the ownership of GM. Another would be a tax problem. The expense may have a big write-off behind it. Usually when GM gives up on a prototype or concept car, it's destroyed.

El Dobro
01-14-04, 08:25 PM
There's probably some Fed BS behind it too. That would fall under liability problems.