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Why Cadillac is willing to lose 43 percent of its dealers

Cadillac is offering about 400 dealers in the United States a lump sum of money to close down. That represents over 40 percent of Cadillac dealers in America. Offers start at $100,000 and top out at $180,000. The average offering is around $120,000. According to Automotive News, Cadillac chief Johan De Nysschen estimates it will cost the automaker around $50 million to close these dealers. Any dealer that chooses to remain open will have to submit to Cadillac's ambitious Project Pinnacle, which will divide dealers into incentive categories based on how many units they sell. "Every single Cadillac dealer will have the potential to earn significantly higher profits than they do today," says De Nysschen. Dealers have until November 21 to decide if they want to take the cash or submit to Project Pinnacle. A logical question: Why is Cadillac willing to spend $50 million to close down 43 percent of its dealers? First, GM's luxury brand has way more dealerships than it needs. Second, the 400 dealers with offers to shutter each sold 50 or fewer vehicles in 2015, representing just 9 percent of its sales volume in America. So, while closing these smaller dealerships may have a small initial impact on sales, it's not going to be a major hit to Cadillac. Related Video: News Source: Automotive News - sub. req.Image Credit: Gary Cameron / Reuters Cadillac Car Dealers Luxury Performance

Meet the next president's new Beast, a giant bomb-proof limo

We don't know who will be our president in 2017, but now we have a better idea of how that person will be transported on land. The next presidential limo, officially referred to as the presidential state car, will be another Cadillac. And a big one. You're looking at a lone spy photo of a car that will be of high interest to actual spies – not to mention Secret Service agents and lots of law-enforcement types. President Obama has been riding around in a Cadillac nicknamed The Beast for a while now. (It recently made an appearance on Comedians in Cars Getting Coffee.) Over the Secret Service radios, it goes by Cadillac One and Limo One. While the current car looks like a stretched Cadillac DTS sedan, it's actually kind of huge and built on a Chevrolet Kodiak medium-duty truck chassis. The same is likely to be true again, but this one will look a lot more like the latest Cadillac models. Through the camo we can see a front end reminiscent of the new CT6 large sedan. Imagine one of those scaled to about 5/3 of the production car and you've got the right idea. Fun fact: It will be the first presidential limo to feature Caddy's new wreathless crest logo on its grille. View 6 Photos As for features, we're in the dark and will remain so even after the new president-mover goes into service. The details are a legitimate matter of national security, but you can bet it's bulletproof, can withstand small bombs, and has some kind of onboard secondary air supply in case of a chemical or biomedical warfare attack. Oh, and it has that big red phone in back in the event things get really bad. The new one will no doubt carry the latest communications and safety technology. The new presidential limousine has been in the works for some time. The government sent out a request for proposals in 2013, and this model is expected to go into service sometime in 2017. Chances are it will make its debut at the inauguration of [INSERT CONTROVERSIAL NAME HERE] in about a year's time. Related Video:

EV tax credits: Here's every electric car or plug-in hybrid that qualifies

Starting on April 18, the Internal Revenue Service released new guidance for U.S. buyers shopping for a new electric or plug-in hybrid vehicle. On April 18th, the IRS showed only six fully electric vehicles on the qualified list, but a day later Volkswagen confirmed its U.S.-built ID.4 also qualifies. That means right now, seven fully electric vehicles qualify for the full $7,500 EV tax credit, with three more from Chevrolet coming for the 2024 model year (we would expect these 2024 models to roll out slowly and be difficult to find for at least the first few months they are on the market). In addition to those seven fully electric cars, two plug-in hybrids also qualify for the full $7,500 credit. To qualify, a vehicle must be assembled in North America and must meet a strict set of guidelines that cover where battery materials were sourced. If any battery materials come from certain countries (importantly including China), the vehicle's tax credit is automatically cut in half. Further, according to the IRS, the vehicle's manufacturer suggested retail price (MSRP) can't exceed $80,000 for vans, sport utility vehicles and pickup trucks or $55,000 for any other type of vehicle (basically meaning sedans). Electric vehicles that qualify for the full $7,500 EV tax credit: Cadillac Lyriq (2023-2024) Chevrolet Blazer EV (2024) Chevrolet Bolt EV (2023-2024) Chevrolet Bolt EUV (2023-2024) Chevrolet Equinox (2024) Chevrolet Silverado (2024) Ford F-150 Lightning — all models (2022-2023) Tesla Model 3 Performance (2022-2023) Tesla Model Y — all models (2022-2023) Volkswagen ID.4 — U.S.-built models (2022-2023) Plug-in hybrid cars that qualify for the full $7,500 EV tax credit: Chrysler Pacifica PHEV (2022-2023) Lincoln Aviator Grand Touring (2022-2023) A smaller credit is offered on fully electric cars and plug-in hybrids that are assembled in North America but have batteries with materials sourced from unqualified countries (mostly China).