Nearly half of Buick dealers opt out of EV revolution
Buyout has cost General Motors $1 billion so far
Some 47% of Buick dealers have chosen to take a buyout from General Motors Corp. rather than stick around for the electric vehicle revolution, The Detroit News has reported.
“This year we’ve given dealers who are not aligned with Buick’s future to exit voluntarily in a respectful and structured way,” Buick spokesman Sam Poppitt told News reporter Kalea Hall.
Buick is moving to an all-electric future. While Buick does not yet have any electric vehicles on the market, it will in 2024. From there, the plan is to switch the entire Buick fleet to electric by 2030, The News reports.
“Buick's buyout program has cost GM about $1 billion through the third quarter of this year,” Hall reports, citing GM’s Wall Street filings.
Michigan Capitol Confidential is the news source produced by the Mackinac Center for Public Policy. Michigan Capitol Confidential reports with a free-market news perspective.