Buick’s new logo as it electrifies its models. Image courtesy of Buick
Buick dealerships that don’t want to be part of the company’s changeover to a fully electric automaker will be given the option of being bought out by parent company General Motors.
In an interview with The Wall Street Journal recently, Buick’s head said all 2,000 Buick dealers in the U.S. will be given the option of taking the buyout.
Duncan Aldred, global vice president of Buick, GMC and GMC Hummer EV, was to outline the plans at a virtual meeting with dealers.
“Not everyone necessarily wants to make that journey, depending on where they’re located or the level of expenditure that the transition will demand,” Aldred told the WSJ. “So if they want to exit the Buick franchise, then we will give them monetary assistance to do so.”
Earlier this summer, Buick announced it would switch to being a fully electric automaker starting in 2024 when it introduces its first electric vehicle. It would also introduce new branding and a new logo. The transformation would be complete by 2030.
While those that take the buyout would give up the Buick franchise and no longer sell the brand’s vehicles, they can sell other GM brands, the WSJ noted.
When fellow GM-brand Cadillac made the same offer to its dealership, one-third agreed. Though, it’s not known how many Buick dealers will take the buyout.