General Motors will offer all of its estimated 2,000 U.S. Buick franchise dealers buyouts as it moves to make the brand all-electric by 2030 in the United States.

The Wall Street Journal first reported the news, quoting Global Buick chief Duncan Aldred who is set to discuss the plans with dealers Friday in a virtual meeting. He noted shifting to EV's will require significant investments by Buick dealers.

"So if they want to exit the Buick franchise, then we will give them monetary assistance to do so," Aldred told the newspaper.

Buick said in June it plans to introduce its first EV in 2024, but did not provide specifics.

"The future dealer requirements are a logical and necessary next step on our path towards electrification to ensure our dealers are prepared to properly sell and service these unique vehicles," a GM spokeswoman told Reuters Friday. 

 

Last year, GM's Cadillac brand said it had thinned its dealer network as it shifts to EVs, saying it has nearly 40% fewer U.S. dealers than in 2018.

Source: Reuters 

© 2022 First XV. All rights reserved.