The new convertible Cadillac will share a platform both with the 2013 ATS and the next-generation CTS.
Cadillac has developed a soft-top convertible to rival the Audi A5 cabriolet, after having cancelled the XLR back in the worst of its woeful 2009 days.
The new model will be built using the Alpha platform. It will also be used to support the 2013 AT and next-generation CSS.
The model will not be a convertible version of the upcoming ATS, but it will be its own vehicle.
Cadillac claims that the new convertible will be priced competitively, possibly even at a discount and below the market.
It will be up against soft-top competitors such as the Audi A5 cabriolet and the Mercedes-Benz E-Class convertible. Hard-top folding-roof jobs such as the Lexus IS and BMW 3-Series cabrio are also available.
There are many engine options, including turbocharged four-cylinders and V6 and V8 units.
The Cadillac convertible will most likely be available in 2013 and 2014, marking it as a model-year 2014.