One in six dealers to close.

[D.Smith]

https://www.thedrive.com/news/37974/one-in-six-cadillac-dealers-opt-to-close-instead-of-selling-electric-cars-report?fbclid=IwAR3X4Jza--P78ww2yKbrx3anaooouomMuVQ4wizNQg974NoLBdYyW5Tynhw

[Eric DeVirgilis CLC# 8621]

I like the first comment on that article.

[Big Apple Caddy]

This buyout is a lot better than what Cadillac offered four years ago to its 400 smallest dealerships.  In 2016, the offer was just $100k to $180k and very few took it.  This latest offer is a lot more tempting, at least to small dealers who weren't selling many Cadillacs anyway.

[Jon S]

Here’s why:

Almost 20% of Cadillac dealers have opted to accept buyouts from General Motors Company rather than pay for costly upgrades needed to service and sell electric vehicles, according to a published report Friday. The move will reduce Cadillac's U.S. dealership count by about 150 outlets, The Wall Street Journal reported, citing people familiar with the plans. Most of the dealers giving up the Cadillac brand sell other GM lines such as Chevrolet and GMC, according to the report.