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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:

GM says over 40% of new China launches in next five years will be EVs

SHANGHAI — General Motors is planning an electric car offensive in China with more than 40% of its new launches in the country over the next five years set to be electric vehicles (EVs), the U.S. carmaker said on Wednesday. GM's electric vehicles, many of which will be all-electric battery cars, will be manufactured in China with almost all parts coming from local suppliers, the company said in a statement released at its Tech Day event in Shanghai. Reuters reported earlier on Wednesday that GM was planning to overhaul its Chinese line-up to stem a slide of sales after more than two decades of growth in a country that contributes nearly a fifth of its profit. GM's new China boss Julian Blissett told Reuters that new technologies, such as EVs and cars with near hands-free driving for highways, would play a key role in GM's China initiatives, which are part of a push to get annual sales in the country back to the 4 million peak it hit in 2017. GM did not say in its statement how many new or significantly redesigned models it was planning to launch in China over the next five years. "China will play a crucial role in making our vision a reality," GM CEO Mary Barra said in the statement, referring to its initiative to create what it describes as a future of "zero crashes, zero emissions and zero congestion" through electrification and smart-driving technologies. GM has said it plans to invest more than $20 billion in electric and automated vehicles globally by 2025. It was not clear how much of that investment will be spent in China. (Reporting by Norihiko Shirouzu in Shanghai; Editing by David Clarke) Related Video: Green Buick Cadillac Chevrolet GM Electric China

GM delivers best Q3 sales since 1980, 2.4M vehicles sold

People are a weird sort. Even after registering over 70 recalls through the first three-quarters of 2014, General Motors saw its best Q3 results since Jimmy Carter was in the White House, registering over 2.4 million global sales between June and September on the back of strong results in the US and China.
US sales were marshaled by good results for GM's pickups, the Chevrolet Silverado and GMC Sierra, which bumped the manufacturer's truck market share to 35.6 percent, up nearly three points from Q1 2014. Buick has seen healthy growth as well, with the Encore dominating its segment for the sixth month running.
It was China, though, that really bolstered GM's sales, as the company's efforts to top last year's record-setting 3.16 million units continued apace. Small SUV sales saw massive growth, with Encore, Chevrolet Trax and Captiva figures jumping 90 percent in Q3. Brand-wise, Chevrolet, Cadillac and Buick all saw sales gains in the PRC, with each recording double-digit year-over-year jumps. Cadillac sales alone were up 63 percent compared to the first nine months of 2013.