Cadillac Said Looking to Trim Fat Off Dealership Network (GM)

September 23, 2016 11:34 AM EDT

Get daily under-the-radar research with StreetInsider.com's Stealth Growth Insider Get your 2-Wk Free Trial here.

General Motors' (NYSE: GM) Cadillac is said moving to considerate its dealership network.

Automotive News said Friday that the luxury GM unit is offering up to $180,000 to its 400 smallest U.S. dealerships if they'd rather give up their dealership versus implementing a slew of new standards being implemented by the brand.

The incentive program is known as Project Pinnacle. Offers start at $100,000 and carry a median value of $120,000. The offer applies to dealerships selling fewer than 50 new Cadillacs to customers in 2015.

Cadillac has 925 U.S. dealerships, but the smaller 400 only accounted for around 9 percent of total sales.

The dealerships will have until November 21st to make a decision on the offer.



Serious News for Serious Traders! Try StreetInsider.com Premium Free!

You May Also Be Interested In






Related Categories

Rumors

Add Your Comment