Cadillac's long-awaited ATS gives GM's luxury brand a direct competitor to the BMW 3 Series, which is still the best-selling luxury car in America. It's something Cadillac has lacked ever since the brand enlarged the CTS for 2008. Cadillac says the ATS weighs less than 3,400 pounds — less than the minimum weight of the 2012 Acura TSX (3,400 pounds), BMW 328i (3,406) and Audi A4 (3,505). That's an impressive statistic from GM, a company whose cars often show up heavier than the competition.

The rear-drive ATS will have three engines — two four-cylinders and a V-6 — with manual or automatic transmissions. All-wheel drive is optional. The ATS comes in base, Luxury, Performance and Premium trims.