“We see Buick’s dealer network as a business advantage, and they will remain a critical part of the retail and relationship chain with customers,” Poppitt said in the statement.
“However, Buick — with the support of its National Dealer Council — will allow those dealers who do not share Buick’s all-electric vision to exit now on an elective basis before investment in essential training, tools, and special equipment is required,” he added. “The minimum investment to become an EV-ready Buick dealer will vary by dealer but is estimated to be $300-400K, on average. Acceptance of an offer is voluntary, but all Buick dealers who remain must be adequately prepared to sell and service Buick EVs.”
Buick’s dealer buyout offer followed a similar offer from Cadillac, which also plans to be all-electric by 2030. About a third of Cadillac’s nearly 900 U.S. dealerships elected to take a buyout, with offers generally from $300,000 to $500,000. Cadillac dealerships will be required to invest, on average, $200,000 to prepare to sell and service EVs.
