A buyout program General Motors started last year to give Buick dealers the option to leave the brand if they didn’t want to invest in a transition to an all-electric lineup has trimmed about half the Buick dealership network, according to news reports.
GM announced the voluntary buyouts in September 2022 for any of its 2,000 U.S. Buick dealers who chose not to participate in the Detroit automaker’s EV plans. GM had announced its goal to go all-electric by 2030 three months earlier. Dealers who took a buyout can still sell other GM brands.
Reports by CNBC and Automotive News put the number of Buick dealers who’ve taken a buyout so far at about half the total. CNBC reported that GM aimed to increase each Buick store’s sales and profit, as well as allow those who don’t want to invest in EVs to exit the brand. The reports indicate that remaining Buick dealers have increased Buick throughput threefold.
The Buick buyout program will continue, GM executives told the publications.
The brand still commands positive public sentiment, ranking first in J.D. Power’s recent U.S. Sales Satisfaction Index Study in the mass-market category for the second year in a row.
