GM Offers Buyouts To 400 Cadillac Dealers

(RTTNews) - General Motors (GM) luxury brand is offering 400 dealers as it reshapes the brand's image to better compete with rivals, according to media reports.

The Detroit auto maker will provide as much as $180,000 in "transition assistance" to U.S. Cadillac dealers unwilling to invest in a set of new standards introduced by brand chief Johan de Nysschen. Cadillac has 925 dealers, and the 43% being offered a buyout typically sell fewer than 50 models a year.

The buyouts are optional and available until Nov. 21, the reports said, citing spokesman. Many of the affected dealers have Cadillac stores coupled with other GM brands, such as GMC or Chevrolet.

The specifics of the buyout program were first reported by Automotive News.