Cadillac's new boss said this week that he believes General Motors' premium brand could sell ultra-luxury vehicles that retail for a quarter-million dollars by 2029.

"It is too early today for a $250,000 Cadillac," said Johann de Nysschen, in an interview on Wednesday at the annual LA Auto Show, according to Reuters. "Fifteen years from now, it won't be."

Cadillac's flagship vehicle, the XTS sedan, sells for around $70,000, which is tens of thousands of dollars less than the range-topping vehicles available from its German competitors like BMW and Mercedes-Benz.

De Nysschen, a former import executive, was named Cadillac president back in August, and now oversees product blitz that will cost the Detroit automaker around $2.5 billion over the next six years, he said to Reuters.

At the L.A. show, he unveiled high-performance versions of the ATS-V sedan and coupe, which will go head-to-head with the BMW 3-series M sport.

We learned at the show that the cars are offered with a six-speed manual transmission, which includes a new feature called "no-lift shift."

As part of the brand "overhaul," Cadillac is preparing to debut new high-end sedans next year, including the CT-6, and an even more expensive model no later than 2020.

De Nysschen mentioned that the CT-6 will be sold for somewhere "in the 70s," or just above the XTS.

He added that Cadillac is considering a smaller model to be positioned below the ATS, one that could compete with for sales against the Mercedes-Benz CLA.

"We quite clearly have in the passenger car line an opportunity below where ATS is positioned today," de Nysschen said at the auto show. "There is a whole new category for compact premium sedans."

"The Germans have so many you can't keep track. An obvious, obvious shortcoming in our lineup," he added.

Cadillac could also get more crossover vehicle options in order to supplement the SRX, he said.

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