150 Cadillac Dealers Choose To Take GM Buyout And Give Up Selling Brand
DETROIT December 4, 2020; Automotive News reported that nearly 1 in 5 Cadillac dealers in the U.S. reportedly have decided to quit the brand rather than make costly upgrades to sell and service electric vehicles.
A Cadillac spokesman would not confirm how many of the brand's 880 dealers accepted the buyout offers first reported by Automotive News last month. Dealers had until Nov. 30 to decide on the offers, which generally ranged from $300,000 to more than $500,000.
About 17 percent, or roughly 150 dealers, are taking the buyouts, The Wall Street Journal reported Friday, citing sources it didn't identify.
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