General Motors has reached buyout agreements with nearly half its Buick dealerships across the country as part of the company's plan to transition Buick to an all-electric brand.
The buyout comes after GM's announcement last year that Buick dealerships will need to spend hundreds of thousands of dollars to transition to selling and servicing electric vehicles. That includes investing in training mechanics and salespeople, installing charging stations, and buying new equipment and tools.
About a thousand Buick dealerships will remain by the end of this year, but GM said that will be enough to meet and exceed current demand, and that most customers will still be within 25 miles or closer to a dealership when the buyouts are complete.
GM hasn't announced which dealerships accepted the buyout, but it's very likely most are in less populated areas, with lower sales volumes.
Buick will launch its first EV in 2024.
