Most of the dealers accepting the buyout also own one or more GM brands and only sell a small number of Cadillacs a month, not enough to spend the money for the upgrades.
Cadillac’s first electric model, the Lyriq, will launch in the first quarter of 2022, nine months earlier than expected.
Photo courtesy of GM.
With General Motors’ plans to electrify its Cadillac lineup by the end of the decade, about 150 Cadillac dealers out 880 in the U.S. will accept buyouts from GM instead of making the upgrades to sell and service EVs, according to the Wall Street Journal. The buyouts range from $300,000 to $1 million.
Most of the dealers accepting the buyout also own one or more GM brands and only sell a small number of Cadillacs a month, not enough to spend the $200,000 needed for the upgrades.
Cadillac’s first electric model, the Lyriq, will launch in the first quarter of 2022, nine months earlier than expected. The model will be the first EV produced at its Spring Hill plant, which is being retooled with a $2 billion investment for EVs.
However, GM will not offer buyouts to GMC dealers who do not want to sell Hummer EVs, CNBC reports.
The rebirth of the Hummer as an electric model is expected in 2021 with its most expensive package, Edition 1, bowing first — for about $112,000. Other more affordable versions will follow.
Originally posted on Automotive Fleet
The magazine highlighted the Telluride HEV, Niro HEV, and Sportage HEV for efficiency, performance, and overall value.
Read More →
Hyundai earns three top spots in U.S. News’ 2026 hybrid and EV rankings, led by repeat wins for the Tucson Hybrid and IONIQ 5 and a category win for the new IONIQ 9.
Read More →
Subaru introduces the all-electric 2027 Getaway, a three-row SUV with 420 hp, over 300 miles of range, and fast-charging capability, expanding its EV lineup.
Read More →
EV sales showed strong month-over-month gains and surging used EV demand, while tighter inventory and declining prices narrowed the gap with gas-powered vehicles.
Read More →
The all-electric SUV gets more standard driver-assist features, new package options, and revised trim configurations for the Touring and Grand Touring models.
Read More →
Nissan's hybrid powertrain with dual-motor all-wheel drive adds refinement and updated driving characteristics in the Rogue.
Read More →
Kia unveiled its compact electric SUV, offering up to 320 miles of range, fast-charging capability, and multiple battery and drivetrain options ahead of its late-2026 launch.
Read More →
A new online calculator from Coltura estimates how much drivers can save by switching to an EV, using real-time local fuel and electricity costs.
Read More →
Rivian detailed pricing, trims, and key features for its upcoming R2 electric SUV, with deliveries set to begin in 2026.
Read More →
Rivian and Uber plan to put the first 10,000 autonomous R2 robotaxis into service starting in 2028 and expand to multiple cities as part of a broader push.
Read More →
