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GM to offer U.S. Buick dealers buyouts

General Motors Co said Friday it will offer all of its estimated 2,000 U.S. Buick franchise dealers buyouts as it moves to make the brand all-electric by 2030 in the United States. The Wall Street Journal reported the news earlier, quoting Global Buick chief Duncan Aldred who is set to discuss the plans with dealers Friday in a virtual meeting. He noted shifting to EVs will require significant investments by Buick dealers. "So if they want to exit the Buick franchise, then we will give them monetary assistance to do so," Aldred told the newspaper. Buick said in June it plans to introduce its first EV in 2024, but did not provide specifics. "The future dealer requirements are a logical and necessary next step on our path towards electrification to ensure our dealers are prepared to properly sell and service these unique vehicles," a GM spokeswoman told Reuters Friday. Last year, GM's Cadillac brand said it had thinned its dealer network as it shifts to EVs, saying it has nearly 40% fewer U.S. dealers than in 2018. GM booked a total of $274 million in costs during 2020 and 2021 related to the effort to buy out Cadillac dealers who were not prepared to invest $200,000 to $500,000 per store in the equipment and training to support the brand's shift to an all-electric vehicle lineup, planned by 2030. Buick traces its roots back nearly 120 years — five years before GM's 1908 founding — to an era when electric cars briefly outsold gasoline models in the United States. All Buicks sold back then were gasoline-powered. Future Buick electric vehicles in the United States and China will carry the Electra name, which dates back more than 60 years, along with an alphanumeric designator. (Reporting by David Shepardson) Related video:

2022 Buick Envision Plus three-row crossover is like an Envision, plus

Buick exited the sedan segment when it axed the Regal, but it's going all-in on crossovers and SUVs. It released a dark preview image that gives us an early look at a three-row family-hauler named Envision Plus. Announced only for the Chinese market as of writing, the Envision Plus is — as its name implies — positioned above the Envision in the company's range, though it's smaller than the Enclave. It's mechanically related to the crossover it shares its nameplate with, but it appears to receive a specific design with a new-look front bumper and a more upright grille. It also wears a boxier silhouette that allowed Buick to add a third row of seats. Extra seating aside, we expect the Plus will offer an interior close to the standard Envision's, which we described as "a scaled-down take on the Enclave's interior" in February 2021. Similarly, Buick will likely offer the Envision Plus with the same turbocharged, 2.0-liter four-cylinder as the smaller model. It produces 228 horsepower and 258 pound-feet of torque, and it spins the front or the four wheels via a nine-speed automatic transmission. Buick will release more details about the 2022 Envision Plus in the coming weeks, and it will unveil the model at the 2021 edition of the Shanghai auto show opening its doors on April 21. While the company hasn't confirmed plans to sell its latest crossover in its home market, we wouldn't be surprised if it arrives here before the end of 2021. Auto shows were put on hiatus in 2020, at the height of the on-going coronavirus pandemic, and the upcoming Shanghai show is the first major industry event in over a year. In addition to the Buick people-mover, we'll discover Toyota's first global electric car. It will arrive as a near-production concept close in size to the hot-selling RAV4. Related video: 2021 Buick Envision Running Footage

GM to idle car production at five factories as Americans continue CUV love affair

In case you needed another reminder that Americans have fallen out of love with sedans, General Motors today announced plans to idle five factories in January in a bid to cut its inventory to 70 days. Detroit-Hamtramck Assembly ( Buick LaCrosse, Cadillac CT6, Chevrolet Volt and Impala) and Fairfax Assembly in Kansas ( Chevy Malibu) will stop production for three weeks. Lansing Grand River ( Cadillac ATS and CTS, and Chevy Camaro) is going down for two weeks, while Lordstown, OH ( Chevy Cruze) and Bowling Green, KY ( Chevy Corvette) will go idle for a week each, Automotive News reports. GM's shutdown reflects a broader problem with the company's supply – at 847,000 vehicles, the company's supply increased unsteadily from a low of 629,000 units in January of 2016. That's more than a 25 percent increase in the past year. Citing information from Autodata, The Detroit News reports that at the end of November, GM had a 168-day supply of LaCrosses, 177 days' worth of Camaro, 170 days of Corvette, 121 days for Cruze, 119 days for ATS, 132 days for CTS, and 110 days of CT6. Meanwhile, inventory of the company's more popular vehicles is actually below the professionally accepted 60- to 70-day supply, The News reports. The Trax, Colorado pickup, and GM's full-size SUVs are sitting below 50 days and experiencing year-over-year sales increases. GM needs a rethink of its inventory levels, which is something that's apparently coming. "We're going to be responsible in managing our inventory levels," GM spokesman Jim Cain told The News. Another unnamed spokesman told Automotive News the company's day-to-day supplies would "fluctuate before moderating at year-end." But at least one analyst thinks this won't be the last time Detroit needs to stop production to level things out. "Incentives are elevated, residuals are declining, and rates are rising," Brian Johnson, an analyst with Barclays, told The News. "And while GM in particular may benefit in the months ahead from new product launches, it's important to recognize that GM's inventory is elevated at the moment, and it wouldn't surprise us if they need to announce another production cut – which could pressure the stock." Related Video: News Source: The Detroit News, Automotive News - sub. req.Image Credit: Paul Sancya / AP Plants/Manufacturing Buick Cadillac Chevrolet GM GMC Crossover SUV Sedan bowling green cadillac xt6 fairfax