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About 150 General Motor Co. dealers are parting ways with Cadillac instead of investing in costly upgrades required to sell electric cars, according to FOX Business. GM recently gave the dealers the choice: accept a buyout ranging from $300,000 to more than $1 million to exit the brand or spend about $200,000 to upgrade their dealerships for the sale of electric vehicles. About 17% of Cadillac’s 880 US dealerships agreed to take the offer to end their franchise agreements for the luxury brand, because many of them own other GM brands like Chevrolet and Buick and don’t sell many Cadillacs. That decision illustrates that even as the value of electric vehicles rises, many car industry insiders remain skeptical about selling and investing in the products. Dealers are weighing costly facility investments like electrical-system upgrades against uncertainty about demand for the vehicles, which now account for about 2% of U.S. vehicle sales. Some retailers say they are putting off orders of electric models, worried they will sit too long on their lots. Even in markets where electric vehicles are more popular, like San Francisco, dealers say the lack of commuting during the pandemic has led to a drop off in demand for cars like GM’s Chevrolet Bolt. https://nypost.com/2020/12/06/unplugged-cadillac-dealers-ditch-brand/
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As a long time Mercury owner, it still breaks my heart that Ford killed the Mercury Brand. It wasn't making money or some such nonsense. How come other companies can have their cake and eat it too like General Motors with the Buick brand! GM kept Buick and look at them now! Great looking vehicles! And they have Cadillac to compete with! I think we sunk the boat on this one. I'm trying to keep my current Grand Marquis until I can't drive anymore unless I see some new Mercuries in the future. We gave up too easily, in my opinion giving up that sector to GM, Chrysler and foreigners.