Chevrolet Not Offering Dealer Buyout
Sept. 13, 2022—Chevrolet will not offer buyouts to dealers that do not want to make electric vehicle upgrades, according to The Verge.
Recently, Chevrolet's sister brand Buick announced buyout plans for franchise dealers that are not interested in making necessary investments for the electric vehicle future.
The idea behind buyouts such as these, according to the recent Buick announcement, is that most of these dealerships sell other GMC brands. Dealerships could take the buyout and sell other brands instead.
According to The Verge, Buick and Chevrolet's sister brand Cadillac offered a similar buyout that ended last year and resulted in 575 dealers accepting the buyout.
Vice President Global Chevrolet Steve Bell told The Verge that not offering the buyout could be a good thing for Chevrolet. If dealerships choose not to do the Buick buyout, for example, they have the option of becoming an exclusive Chevrolet dealer instead.
Bell also told The Verge that he sees an existing commitment from Chevrolet dealers to sell electric vehicles. He pointed to the dealers that represent 95 percent of Chevrolet sales. Those dealers are selling the electric Chevy Bolt.