As average new-vehicle prices continue to rise, average transaction prices for the four GM brands sold in the U.S. are up seven percent, per a recent report.
According to Kelley Blue Book, the average transaction price in January of the 2021 calendar year among the four U.S. GM brands (Buick, Cadillac, Chevrolet, and GMC) was $44,204. Compared to the average transaction price of $41,324 in January of 2020, that’s an increase of $2,880, or 6.97 percent, year over year.
For reference, the average transaction price for the four U.S. GM brands in December of 2020 was $44,709, which reveals a 1.13 percent decrease when compared to the average transaction price recorded in January of 2021. Note that the figures included here do not reflect any applied consumer incentives.
Per the latest report from Kelley Blue Book, the estimated average transaction price for a light vehicle in the U.S. during January of the 2021 calendar year was $40,857, which is an increase of $2,110 (or 5.45 percent) compared to January of 2020, and a decrease of $295 from the previous month.
“January 2021 prices are coming off a historical fourth quarter, with average transaction prices reaching more than $40,000 for the first time at the end of 2020,” said industry intelligence analyst at Cox Automotive, Kayla Reynolds. “As we have seen the last few years, we expect transaction prices to continue to grow.”
The automaker with the largest year-over-year growth in average transaction prices was FCA/Stellantis, with an increase of 9.97 percent when comparing January of 2020 to January of 2021. Mitsubishi had the greatest year-over-year decrease, dropping 8.05 percent during the same time period.
With regard to individual vehicle segments, minivans had the greatest year-over-year growth at 12.25 percent, with Luxury Cars following close behind at 11.75 percent. The vehicle segment with the largest year-over-year drop were High Performance Cars with a decrease of 16.63 percent.