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Dealerships might hamper GM’s plans to electrify its cars. Wall Street Journal tipsters claim that roughly 150 GM dealerships in the US have decided to drop the Cadillac brand and accept a buyout (ranging from $300,000 to over $1 million) rather than spend about $200,000 to upgrade the dealerships with charging stations, repair hardware and other equipment needed to sell EVs. Many of these brands only sell a few Cadillacs per month versus more for Buick, Chevrolet and GMC, but it’s still a significant blow when GM has 880 Cadillac dealers in the country.
Cadillac brand leader Rory Harvey confirmed to the WSJ that GM was offering buyouts, but didn’t say how many dealers took them or how much they were worth.