What's the motivation for the drop-top rejection? Volume projections. Cadillac doesn't see enough convertible fans stepping up with cash to support the production of an ATS convertible.
The sedan is still on track to arrive in dealerships during the summer of 2012. Rumor has it that the coupe is slated to arrive a few years later as a 2015 model. Regardless, we're eagerly awaiting word on what the V versions will pack under their hoods.