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<blockquote data-quote="Weather Man" data-source="post: 16535786" data-attributes="member: 137766"><p><span style="font-size: 22px"><strong>Some Cadillac dealers dump brand rather than sell electric cars - WSJ</strong></span></p><p>Dec. 4, 2020 3:42 PM ET|About: <a href="https://seekingalpha.com/symbol/GM" target="_blank">General Motors Company (GM)</a>|By: <a href="https://seekingalpha.com/author/sa-editor-carl-surran" target="_blank">Carl Surran</a>, SA News Editor </p><p></p><p></p><p>At least some retailers seem skeptical about making the change to battery-powered vehicles, as <em>WSJ</em> reports ~150 General Motors (<a href="https://seekingalpha.com/symbol/GM?source=news_body_link" target="_blank">GM</a> +0.4%) dealers have decided to <a href="https://www.wsj.com/articles/about-150-u-s-cadillac-dealers-to-exit-brand-rather-than-sell-electric-cars-11607111494?source=news_body_link" target="_blank">part ways with Cadillac rather than invest in costly upgrades required to sell electric cars</a>.</p><p></p><p>According to the report, GM recently gave Cadillac dealers a choice: Accept a buyout offer of as much as $1M-plus to exit the brand or spend ~$200K on dealership upgrades including charging stations and repair tools to get their stores ready to sell electric vehicles, and ~17% of Cadillac's 880 U.S. dealerships agreed to take the offer to end their franchise agreements for the brand.</p><p></p><p>Some dealers have said they are wary of making upfront investments when EVs now account for just 2% of the overall U.S. vehicle market.</p><p></p><p>GM "has cast its fate on the presumption of an EV future that will define global mobility, and one that it will dominate along with a few other players," Doron Levin writes in an <a href="https://seekingalpha.com/article/4391378-gm-doubles-down-on-ev-future-clarifying-bet-on-underperforming-shares?source=news_body_link" target="_blank">analysis posted recently on Seeking Alpha</a>.</p></blockquote><p></p>
[QUOTE="Weather Man, post: 16535786, member: 137766"] [size=6][b]Some Cadillac dealers dump brand rather than sell electric cars - WSJ[/b][/size] Dec. 4, 2020 3:42 PM ET|About: [URL='https://seekingalpha.com/symbol/GM']General Motors Company (GM)[/URL]|By: [URL='https://seekingalpha.com/author/sa-editor-carl-surran']Carl Surran[/URL], SA News Editor At least some retailers seem skeptical about making the change to battery-powered vehicles, as [i]WSJ[/i] reports ~150 General Motors ([URL='https://seekingalpha.com/symbol/GM?source=news_body_link']GM[/URL] +0.4%) dealers have decided to [URL='https://www.wsj.com/articles/about-150-u-s-cadillac-dealers-to-exit-brand-rather-than-sell-electric-cars-11607111494?source=news_body_link']part ways with Cadillac rather than invest in costly upgrades required to sell electric cars[/URL]. According to the report, GM recently gave Cadillac dealers a choice: Accept a buyout offer of as much as $1M-plus to exit the brand or spend ~$200K on dealership upgrades including charging stations and repair tools to get their stores ready to sell electric vehicles, and ~17% of Cadillac's 880 U.S. dealerships agreed to take the offer to end their franchise agreements for the brand. Some dealers have said they are wary of making upfront investments when EVs now account for just 2% of the overall U.S. vehicle market. GM "has cast its fate on the presumption of an EV future that will define global mobility, and one that it will dominate along with a few other players," Doron Levin writes in an [URL='https://seekingalpha.com/article/4391378-gm-doubles-down-on-ev-future-clarifying-bet-on-underperforming-shares?source=news_body_link']analysis posted recently on Seeking Alpha[/URL]. [/QUOTE]
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