General Motors has cut the size of its Buick dealership network roughly in half in the U.S. through an ongoing voluntary buyout program, an executive told CNBC.
The 1,000-store reduction aims to increase the amount of sales per location, or throughput, and profits at the remaining dealers, according to Duncan Aldred, global head of GM's Buick and GMC brands. The buyouts also allow dealers who don't want to invest in electric vehicles to get out of the business.
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