Almost half of Buick dealers across the United States have opted to take buyouts from General Motors (GM) to avoid having to sell Electric Vehicles (EVs) at a time when consumer reports show Americans are increasingly turned off by the cars.<\/p>\n\n\n\n
According to GM, almost 1,000<\/a> of its nearly 2,000 Buick dealerships across the U.S. chose to take buyouts from the parent company rather than investing potentially millions into retooling and prepping dealers to service and sell EVs.<\/p>\n\n\n\n The buyouts mean that GM will now have just about 1,000 Buick dealerships across the nation as the automaker moves forward with adhering to President Joe Biden\u2019s green energy agenda.<\/p>\n\n\n\n The Wall Street Journal<\/em> reports<\/a>:<\/p>\n\n\n\n Dealers who are taking the buyout would give up the Buick franchise and no longer sell the brand<\/strong>, he said. The dealer can continue to sell other GM models, such as Chevrolet or GMC, that often account for a higher percentage of sales. [Emphasis added]<\/p>\n\n\n\n The Journal<\/em> reported in late 2022 that the automaker planned to offer buyouts to its U.S. Buick dealer network. The move came after the Detroit automaker gave them a choice: Invest at least $300,000 to sell and service EVs, or exit the Buick franchise.<\/strong> The investments would cover electric-vehicle chargers and worker training, among other initiatives. [Emphasis added]<\/p>\n\n\n\n The move comes as U.S. car dealers are so concerned with EV sales that they are urging<\/a> Biden to abandon his EV mandates and carbon emission regulations that would effectively force all-electric cars on consumers.<\/p>\n\n\n\n \u201cThe reality, however, is that electric vehicle demand today is not keeping up with the large influx of [EVs] arriving at our dealerships prompted by the current regulations. [EVs] are stacking up on our lots,\u201d the car dealers write:<\/p>\n\n\n\n With each passing day, it becomes more apparent that this attempted electric vehicle mandate is unrealistic based on current and forecasted customer demand<\/strong>. Already, electric vehicles are stacking up on our lots<\/strong> which is our best indicator of customer demand in the marketplace. [Emphasis added]<\/p>\n\n\n\n At the same time, a bombshell Consumer Reports survey recently revealed that EVs spur nearly 80 percent<\/a> more problems for car owners than gas-powered cars using traditional combustion engines.<\/p>\n\n\n\n