The combined average transaction price (ATP) for all U.S. GM brands was up nearly 14 percent year-over-year in June.
Per a recent report from Kelley Blue Book, the estimated ATP for all U.S. GM brands, including Buick, Cadillac, Chevrolet, and GMC, was $48,700, representing a 13.9 percent year-over-year increase compared to the estimated ATP in June of 2020 ($42,749).
The estimated ATP for all U.S. GM brands in May of 2021 was $48,555, indicating a 0.3-percent ATP increase between May and June of this year. Note that Kelley Blue Book ATP figures do not include applied consumer incentives.
The Kelley Blue Book report also provided insight into the broader auto industry, with the ATP for all major auto manufacturers studied coming to $42,258 in June of 2021, a 6.36-percent increase year-over-year compared to June of 2020. The ATP for all major auto manufacturers studied increased 2.24 percent between June of 2021 and May of 2021.
Every vehicle manufacturer studied showed year-over-year ATP growth last month, with the exception of Tesla, which did not report figures for two models, skewing its ATP numbers. The largest year-over-year ATP increase went to Mitsubishi, up 18.3 percent, followed by Stellantis with a 15.8-percent year-over-year increase.
With regard to segments, non-luxury models were up 7 percent, beating estimated ATP increases for luxury models, which rose 2.9 percent.
“Despite unprecedented low incentives and inventory levels in June, last month showcased more historically high average transaction prices, reaching an all-new record,” said industry intelligence analyst at Cox Automotive, Kayla Reynolds. “New-vehicle affordability continues to decline as the income required to purchase the average new vehicle continues to climb. In June, for the first time in a decade, vehicle buyers were essentially paying sticker price – the manufacturer’s suggested retail price – for new vehicles.”