Interior of the 2016 Buick Cascada convertible
General Motors announced plans on Friday to offer all of its Buick dealers buyouts as the storied division moves to make its vehicles all-electric by 2030 in the United States.
The news was first reported by the Wall Street Journal.
Buick was founded in 1899 by the automotive pioneer David Duncan Buick, becoming one of the first American automakers. It was the Buick Motor Company that formed the company General Motors in 1908, a move by Buick’s then general manager, William C. Durant, a major investor in the company.
The head of the Buick Motor Division of GM met with dealers Friday in an online meeting to discuss the move. The migration to all-electric will require significant investments by Buick dealers and some may not be willing to take such steps.
“If they want to exit the Buick franchise, then we will give them monetary assistance to do so,” Aldred told the newspaper.
Buick had announced plans in June it plans to introduce its first EV in 2024, but did not provide any further information on the timeline.
“The future dealer requirements are a logical and necessary next step on our path towards electrification to ensure our dealers are prepared to properly sell and service these unique vehicles,” GM said in a statement.
Buick stablemate Cadillac has already taken undertaken similar changes as it moves into electric vehicles. The brand has shed 40% of its dealers since 2018.
(Photo: Accura Media Group)
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