GM buys out nearly half of its Buick dealers across the country, who opt to not sell EVs

[Elderberry]

Detroit Free Press by Jamie L. LaReau 12/20/2023

General Motors said nearly half its Buick dealers took buyouts this year rather than invest in selling and servicing electric vehicles as the automaker's brands transition to all electric by 2030.

That means GM will end 2023 with about 1,000 Buick stores nationwide, down 47% from where it started the year.

Late last year, Buick said it would be asking dealers to commit a minimum investment of $300,000 to $400,000 to prepare their stores to sell and service EVs.

"Buick is transforming, launching the best vehicles the brand has ever had and is the fastest growing mainstream brand in 2023," said GM spokesman Sean Poppitt in an email this week to the Detroit Free Press. "This all needs to be supported by the best customer experience in the transition to EVs. As stated before, this year we’ve given dealers who are not aligned with Buick’s future to exit voluntarily in a respectful and structured way; with the full support of our National Dealer Council."

More: https://www.freep.com/story/money/cars/general-motors/2023/12/20/gm-buick-dealerships-buyouts/71978066007/

[Wingnut]

Buick will go the way of Oldsmobile, Saturn and Pontiac as brands that are on the ash heap of history because of GM mismanagement.

[cato potatoe]

Isn’t Buick supposed to make BarcaLoungers on wheels?  Is the elderly demographic cohort disappearing?  Buick should stick to what they know, and quit trying to reinvent themselves. 

[Wingnut]

Isn’t Buick supposed to make BarcaLoungers on wheels?  Is the elderly demographic cohort disappearing?  Buick should stick to what they know, and quit trying to reinvent themselves.

This is what happens when they hire educated idiots (non car guys) and place them in management positions. 

[GtHawk]

The same thing happened with Cadillac dealers a while back when they refused to invest crazy money to service Cadillac EV's.

[Smokin Joe]

Buick will become a sunbelt brand. Maybe a couple of dealers in northern cities, but not many sales up this way. Need wider tires for golf carts.

[mountaineer]

Coming to a city near you:

Stockholm bans diesel- and gas-powered cars from driving downtown starting 2025
Published Tue, Oct 17 2023 5:30 PM EDT Updated Tue, Oct 17 20236:16 PM EDT
Rebecca Picciotto

Key Points

    *Sweden’s capital city plans to no longer allow diesel- and gas-powered vehicles to drive within a certain region of its downtown area to reduce traffic and pollution.
    *The vice mayor for transport said Stockholm “should be a public festival with outdoor seating and plenty of space for walking and cycling. Now we are taking the next big step to make this a reality.”
    *London and Brussels have their own policies to discourage high-emissions traffic but have not yet gone so far as an all-out ban on diesel and gas vehicles.  ...

Full story at CNBC

[mountaineer]

 Written by Olivia Murray on Dec 28, 2023
Auto Dealerships Turning Into Electric Vehicle Boneyards

When you have seasoned criminals running the legislative process, it should come as no surprise that you get a government saturated with theft, money laundering, and corruption.

Yesterday, The Wall Street Journal published a new report, revealing this:

    Electric vehicle sales growth hit a speed bump in the U.S. this year, and the impact is being felt throughout the industry.

The authors of the article suggest that the “relatively high prices” of EVs might have something to do with the people’s “hesitancy” to make the switch—because the average $54k for an EV (which is $5k more than the average gas vehicle) is only a “relatively high” cost for a car. [emphasis, links added] ... https://climatechangedispatch.com/auto-dealerships-turning-into-electric-vehicle-boneyards/

[Smokin Joe]

Written by Olivia Murray on Dec 28, 2023
Auto Dealerships Turning Into Electric Vehicle Boneyards

When you have seasoned criminals running the legislative process, it should come as no surprise that you get a government saturated with theft, money laundering, and corruption.

Yesterday, The Wall Street Journal published a new report, revealing this:

    Electric vehicle sales growth hit a speed bump in the U.S. this year, and the impact is being felt throughout the industry.

The authors of the article suggest that the “relatively high prices” of EVs might have something to do with the people’s “hesitancy” to make the switch—because the average $54k for an EV (which is $5k more than the average gas vehicle) is only a “relatively high” cost for a car. [emphasis, links added] ... https://climatechangedispatch.com/auto-dealerships-turning-into-electric-vehicle-boneyards/

The abject failure of attempted EV mass transit in northern latitudes is an indicator that there will be few, if any rural Buick dealers in the Northern States. Pass all the laws you want, people need transportation, not deathtraps, and the local dealers know it.

[catfish1957]

The abject failure of attempted EV mass transit in northern latitudes is an indicator that there will be few, if any rural Buick dealers in the Northern States. Pass all the laws you want, people need transportation, not deathtraps, and the local dealers know it.

I was looking at the financials, and could only find data back to 1975.  But from what I saw, counting bankruptcies, low EPS, chronic lagging Market Cap, and low overall ROCE?

This just might be the worst run company in the history of this country.  Today's buyout of a section of what is becoming another failed business model is just one in a continuing series of keystone cop board moves.

[Fishrrman]

"General Motors said nearly half its Buick dealers took buyouts this year rather than invest in selling and servicing electric vehicles as the automaker's brands transition to all electric by 2030..."

I wonder how many owners of those dealerships will take that money and then open up new Toyota, Honda, and Subaru shops, instead...?

[sneakypete]

I just don't see how the Buick  brand can survive this.

[Bigun]

I just don't see how the Buick  brand can survive this.

It doesn't matter who survives and who doesn't; the $$$ has already been moved from the public treasury into the pockets of those who cooked up this boondoggle. @sneakypete

[Smokin Joe]

"General Motors said nearly half its Buick dealers took buyouts this year rather than invest in selling and servicing electric vehicles as the automaker's brands transition to all electric by 2030..."

I wonder how many owners of those dealerships will take that money and then open up new Toyota, Honda, and Subaru shops, instead...?

Not sure, but there is only one Buick in the extended family. There are a bunch of Chevys (mostly mine) but whole other households driving Subarus. Toyota and Honda do well, but we don't own them.

[roamer_1]

Not sure, but there is only one Buick in the extended family. There are a bunch of Chevys (mostly mine) but whole other households driving Subarus. Toyota and Honda do well, but we don't own them.

Chevy pickup trucks, mostly... And a couple Tahoes... with a couple 'Yoda trucks throwed in.

Cars are mostly Dodge Caravans or Subaru.. with one lonely Yoda hybrid SUV

[sneakypete]

It doesn't matter who survives and who doesn't; the $$$ has already been moved from the public treasury into the pockets of those who cooked up this boondoggle. @sneakypete

@Bigun

No doubt you are right. NOTHING gets changed anywhere these days until the "right pockets" are stuffed full of Benjamins.

[Cyber Liberty]

This is what happens when they hire educated idiots (non car guys) and place them in management positions.

That's very true.  Look at 70's cars.

Buick will go the way of Oldsmobile, Saturn and Pontiac as brands that are on the ash heap of history because of GM mismanagement.

Also true.

[Bigun]

That's very true.  Look at 70's cars.

Also true.

GM, all of it, went onto the ash heap of history years ago for me during the Obama administration.

[catfish1957]

GM, all of it, went onto the ash heap of history years ago for me during the Obama administration.

lol....  I used to laugh when they did that stupid commerical where the woman whistles for a brand new GM truck for her husband for Christmas in the snow.

My response would have been.....    "Oh shit we both got dogs"

[Smokin Joe]

GM, all of it, went onto the ash heap of history years ago for me during the Obama administration.

All mine are 20th century vehicles, so...pre-Obama.

[roamer_1]

All mine are 20th century vehicles, so...pre-Obama.

Yep. I lost interest (love for it) sometime in the 90's with the advent of automotive computers. More trouble than they're worth. Yards and miles of wire and sensors.

Simple things.

[Smokin Joe]

Yep. I lost interest (love for it) sometime in the 90's with the advent of automotive computers. More trouble than they're worth. Yards and miles of wire and sensors.

Simple things.

You either keep them pretty stock (or make some major changes) after the 80s. I have older, carbureted vehicles, but I have to admit I like fuel injection.

[roamer_1]

You either keep them pretty stock (or make some major changes) after the 80s. I have older, carbureted vehicles, but I have to admit I like fuel injection.

We were doing injection long before computers... Just get a set of Holley injection heads and the injection kit, and you'll be set. I had that kit for a Chevy small block... part of a package deal... but it's gone now.

[Smokin Joe]

We were doing injection long before computers... Just get a set of Holley injection heads and the injection kit, and you'll be set. I had that kit for a Chevy small block... part of a package deal... but it's gone now.

Yeah, they still make them....but I have cars I have bought for less than that kit.