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