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About 150 Cadillac dealers take GM buyouts rather than invest in EVs

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General Motors released this teaser image of an illuminated Cadillac crest on the front of the Lyriq ahead of the crossover’s debut.

GM

DETROIT – About 150 General Motors dealers have accepted buyouts and will stop selling Cadillacs as the Detroit automaker pivots the luxury brand to lead its all-electric vehicle efforts, a person familiar with the details confirmed to CNBC.

GM recently told its 880 U.S. Cadillac dealers that in order to sell its upcoming EVs it would cost at least $200,000 to upgrade dealerships. The cost includes EV chargers, tooling and training. Such capital expenditures are typically viewed as part of business for larger dealers, but could be challenging for smaller…



Source cnbc.com

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