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

September 23, 2016 11:34 AM EDT

Find out which companies are about to raise their dividend well before the news hits the Street with's Dividend Insider Elite. Sign-up for a 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 Premium Free!

You May Also Be Interested In

Related Categories


Add Your Comment