GM Dealers Choose Buyout Over EV Sales
Dec. 7, 2020—General Motors recently gave its dealers a buyout option if they held any hesitation about converting to electric vehicle sales.
According to Clean Technica, 17 percent of Cadillac's dealers chose the buyout option, receiving between $500,000 and $1,000,000.
Dealers who chose to take the money will have access to new Cadillacs until the end of next year and will be offered prime deals on used Cadillacs at auctions until 2024. Those who did decide to stick with the automaker now have to upgrade repair equipment, install EV chargers, and attend additional training to continue selling GM vehicles.