Billboards at Ziegler Cadillac, Buick and GMC Dealers in Lincolnwood, Illinois, USA. General Motors Company of America
Joel Lerner | Xinhua News Agency | beautiful pictures
ADVICE – Synthetic engine is offering buybacks to U.S. Buick dealers who don’t want to invest in the brand transition to exclusivity provide fully electric vehicles in the country by 2030the automaker confirmed on Friday.
The acquisition offers, which are being made available to Buick dealers on Friday, are GM’s latest efforts to accelerate the company’s electric vehicle plans and transform its sales network.
All of Buick’s approximately 2,000 U.S. franchisees will have an acquisition opportunity, said Duncan Aldred, global head of Buick, told The Wall Street Journal.
“Not everyone will necessarily want to make that journey, depending on their location or the amount of spending that the transition will entail,” he told the publication. “So if they want to get out of the Buick franchise, then we’ll give them monetary support to do so.”
Michelle Malcho, a spokeswoman for the company, on Friday confirmed the acquisition plan to CNBC but declined to disclose the expected cost or the number of dealers that GM anticipates making the offer. Many Buick dealers also sell GMC or one of the US GM brands.
The company offered similar buybacks to Cadillac dealers in 2020. About 150, or 17%, of those 880 retailers accepted the offer instead of assuming investment expectations. at least $200,000 to upgrade dealers for electric vehicles.
Buyback offers for Cadillac dealers range from about $300,000 to more than $1 million, a person familiar with the plans said. previously told CNBC. Malcho declined to disclose how much Buick dealers will be offered.
Buick’s EV plans are part of GM .’s $30 Billion Investment into electric vehicles by 2025. That investment is expected to result in about 30 new electric vehicles globally from the automaker, which has already committed exclusive electric vehicle supply in 2035.
