Our Terms of Service and Privacy Policy have changed.

By continuing to use this site, you are agreeing to the new Privacy Policy and Terms of Service.

3 of 7
BACKNEXT
Cadillac Cimarron
Cadillac Cimarron
The most important part of any luxury brand is its image and one bad model can ruin it. In the early 1980s, Cadillac joined other luxury brands in trying to attract more entry-level buyers with a smaller, more fuel-efficient car.

Instead of coming out with a truly new product, GM added the Cadillac crest to what was, in all important respects, a Chevrolet Cavalier. It also added thousands to the price tag.

In all, it was neither a good Cadillac nor a good value. Even GM executives will readily admit today that this was a really bad idea.

Cadillac did manage to bounce back from this mistake and has returned to respectability as America's only true luxury brand. The underlying good news here is that if GM can pull Cadillac back on its feet, this company itself may be able to bounce back.

NEXT: EV1

Last updated June 02 2009: 3:55 PM ET
Email | Print | Share  |  RSS
 
google my aol my msn my yahoo! netvibes
Paste this link into your favorite RSS desktop reader
See all CNNMoney.com RSS FEEDS (close)
Find Your Next Car
More Galleries
The 7 biggest investment mistakes celebrities make From betting too heavily on real estate to overestimating future earnings, here are 7 of the most common money mistakes that celebrities make. More
Cotton candy, toothpicks, pet gel -- these products are all made from marijuana Legal cannabis, an estimated $5.4 billion industry, is drawing in entrepreneurs with a variety of innovative products -- from skin patches to pain relief gel for pets. More
Coolest hotel bars for business travelers CNNMoney asked two concierge services for high-flying business people what hotel bars they'd recommend in 5 major U.S. cities. Here are their favorite spots. More

Special Offer