The brand’s first all-electric model, the Cadillac Lyriq, is slated to go on sale in the spring of 2022. (Photo: General Motors Co via REUTERS)
About 150 General Motors Co. dealers have decided to part ways with Cadillac, rather than invest in costly upgrades required to sell electric cars, according to people familiar with the plans, indicating some retailers are skeptical about pivoting to battery-powered vehicles.
GM recently gave Cadillac dealers a choice: Accept a buyout offer to exit from the brand or spend roughly $200,000 on dealership upgrades — including charging stations and repair tools — to get their stores ready to sell electric vehicles, these people said.
The buyout offers ranged from around $300,000 to more than $1 million, the people familiar with the effort added. About 17% of…
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