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Cadillac to Corvette: You’re not getting our twin-turbo V8 engine

NEW YORK — Cadillac president Johan de Nysschen bluntly shot down rumors his brand's powerful twin-turbo V8 is also headed for the Chevy Corvette. Speaking Wednesday at the New York Auto Show, he said: "Just quit the speculation it's headed for Corvette. It's not." The 4.2-liter V8 cranks out 550 horsepower and 627 pound-feet of torque in the Cadillac CT6 V-Sport, which debuted at the show. With that kind of performance and the fact the engine will be hand-built at the General Motors Performance Build Center in Bowling Green, Ky. — at the Corvette factory — led enthusiasts to presume the engine would eventually be under the Vette's hood. De Nysschen, however, argued the engine will also focus on levels of refinement, rather than the Corvette's raw, visceral dynamic. "I think Corvette wants a different kind of character," he said. In fact, the V8 is set to be only for Cadillacs, de Nysschen said, giving the luxury brand its first exclusive engine in years. "It's a matter of being a thoroughbred luxury car," he said. "It's really only a luxury brand that could recoup this [development] cost." A version of the engine making 500 hp and 553 lb-ft will also be used in other Cadillac models. De Nysschen declined say which vehicle will get the engine next. The new V8 uses a "Hot V" configuration more common to German performance cars, and has direct injection, electronic wastegate control, active-fuel management and stop-start technology. It teams with a 10-speed automatic transmission and fits either rear- or all-wheel drive systems. With a new mid-engine Corvette — and potentially more versions of the existing generation Vette — on the horizon, speculation pointed to the sports car getting a twin-turbo powerplant of some sort (V6 rumors also have floated), and the Cadillac 4.2-liter seemed to fit on paper. According to de Nysschen, that won't be the case. Still, even though the Cadillac boss says this specific engine won't go to Corvette, it's hard to not think some version of this engine, perhaps in a different displacement, could find its way under the hood of the Vette at some point in the future. Related Video:

Cadillac Lyriq teased ahead of debut next week

The Cadillac Lyriq is just around the corner, set to be fully revealed on August 6. Cadillac just released a few teaser photos and videos as preparation for the big debut a week from today. It’s our best look at the production version of the car yet. Of course, you may remember photos of the EV concept released over a year ago, but the production crossover is shaping up to be a little different. This carÂ’s most intriguing element so far is the charge outlet panel integrated into the front fender. The large piece appears to lift up and slide out of the way when itÂ’s time to plug in. This reveals a decorative LED light strip that outlines the outlet, ultimately leading into the Cadillac logo above. Below the panel is a small, silver GM badge that if our guess is correct, says “Ultium” for the Ultium battery technology going into the Lyriq.  The wheels feature a unique silver and black two-tone design. Those black inserts are ridged, and the wheel is likely designed for better aero performance and increased range. ItÂ’s tough to say much about the design itself, but the silhouette is giving us crossover coupe vibes with its heavily raked rear window and sloping roofline. It appears to have a couple spoilers, one on the roof and then another as a ducktail below the rear window. CadillacÂ’s video teasers provide for the briefest of front end glimpses. Still, we can see the fancy lighting signature that Cadillac has created. ThereÂ’s both a light-up Cadillac badge and small LED lighting strips integrated throughout the grille. ItÂ’s concept car-like in appearance, so we do wonder whether this will find its way into a production Lyriq. The vertical DRL weÂ’re used to seeing on other Cadillacs has also made an appearance on the outer edges of the front bumper. ItÂ’s been previously stated that the Lyriq would enter production in 2022, so even when GM does reveal the electric Cadillac next week, itÂ’ll be a long while till we see the vehicle on the road. Related Video:

Why Cadillac is willing to lose 43 percent of its dealers

Cadillac is offering about 400 dealers in the United States a lump sum of money to close down. That represents over 40 percent of Cadillac dealers in America. Offers start at $100,000 and top out at $180,000. The average offering is around $120,000. According to Automotive News, Cadillac chief Johan De Nysschen estimates it will cost the automaker around $50 million to close these dealers. Any dealer that chooses to remain open will have to submit to Cadillac's ambitious Project Pinnacle, which will divide dealers into incentive categories based on how many units they sell. "Every single Cadillac dealer will have the potential to earn significantly higher profits than they do today," says De Nysschen. Dealers have until November 21 to decide if they want to take the cash or submit to Project Pinnacle. A logical question: Why is Cadillac willing to spend $50 million to close down 43 percent of its dealers? First, GM's luxury brand has way more dealerships than it needs. Second, the 400 dealers with offers to shutter each sold 50 or fewer vehicles in 2015, representing just 9 percent of its sales volume in America. So, while closing these smaller dealerships may have a small initial impact on sales, it's not going to be a major hit to Cadillac. Related Video: News Source: Automotive News - sub. req.Image Credit: Gary Cameron / Reuters Cadillac Car Dealers Luxury Performance