Chevrolet Not Offering Buyouts To Dealers That Won't Sell EVs

The future of motoring is electric, but not all auto dealers are ready or willing to make the transition. In some cases, automakers are offering franchise buyouts to dealers. But Chevrolet apparently won’t be part of that group.

Speaking recently to The Verge, Chevrolet Global Vice-President Scott Bell said the brand wouldn’t partake in buyouts. Cadillac has already thinned its dealership count through a round of buyouts, ultimately cutting nearly 600 outlets from the roster. Recently, Buick announced it would also offer dealer buyouts for those not choosing to invest in EVs. With these companies all part of General Motors, most dealers carry multiple brands. But those choosing to exit Cadillac and Buick only have Chevrolet and GMC left.

Gallery: 2024 Chevrolet Equinox EV

Bell allegedly sees that as a good thing for Chevrolet, which has a much larger dealership network than Buick or Cadillac. He noted that a vast majority of Chevy dealers already sell the Bolt, suggesting that these locations are ready for an electric future. It’s unclear if Chevrolet will require dealers to make expensive upgrades to sell EVs, which was a caveat for Cadillac dealers to stay with the brand. And the last we heard, GMC wouldn’t offer buyouts either.

Recently, Ford gave an EV ultimatum to its dealers not unlike that of Cadillac, but without a buyout option. The dealer investment is also higher, estimated to be between $500,000 and $1.5 million. However, this outlines two tiers of EV sales for Ford dealers, and if they don’t choose to make the investment, the locations can still sell Ford vehicles. They just have to stick with internal combustion and hybrid models, which will still exist for several years to come. contacted Chevrolet for additional information regarding its position with dealerships going forward into an EV future. With vehicles like the Chevrolet Silverado EV, Equinox EV, and Blazer EV coming soon, the electrified Bow Tie lineup will be quickly expanding. We’ll jump in with an update if new information becomes available.

Source: The Verge

Source: Read Full Article