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GM to offer franchise buyouts to U.S. Buick dealers
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General Motors Co. will offer buyouts to U.S. Buick dealers as an alternative for franchise owners who don’t want to make investments that will be needed as the brand goes all-electric, an executive said.
Global Buick chief Duncan Aldred confirmed in an interview that all of Buick’s roughly 2,000 U.S. franchise dealers will be given the opportunity to take a buyout. A dealer who takes a buyout would give up the Buick franchise and no longer sell the brand, although nearly all Buick dealers also sell other GM models. Mr. Aldred is scheduled to outline the plan during a virtual dealer meeting Friday.
GM said in June that Buick would transition to sell exclusively electric vehicles by 2030. That will require substantial investments in charging stations and store upgrades, along with other changes in the way dealers do business, Mr. Aldred said.