The average transaction price of a new Buick vehicle stood at $35,089 at the end of August, which was down 2.8 percent from $36,112 in July.
Buick ATPs fell in August despite the industry ATP rising by 1.6 percent from $42,670 to $43,355. While Buick ATPs fell from July to August, they were up 6.4 percent year-over-year from August 2020, although car sales in 2020 were uncharacteristically low due to the COVID-19 pandemic and the various government restrictions put in place in the wake of the outbreak.
The segments Buick competes in saw mild price increases between July and August. Compact SUV/crossover models rose from an ATP of $32,225 to $32,747, while mid-size SUV/crossover models rose from $43,617 to $44,206. Subcompact SUV/crossover models rose from $27,447 to $27,687.
As we reported previously, Cadillac ATPs reached $74,000 in August of 2021, while GMC ATPs rose to $58,010 and Chevy ATPs rose to $47,025. Combined, ATPs at General Motors’ four U.S. brands (Buick, Cadillac, Chevy, GMC) were up 0.3 percent between July 2021 and August 2021, rising from $49,343 to $49,468.
In a review of August sales figures, Kayla Reynolds, an analyst for Cox Automotive, said low inventory levels and incentive spending continue to drive new vehicle price increases up – and relief won’t come until the effects of the COVID-19 pandemic and global chip shortage dissipate.
“The automotive industry is still reeling from the extraordinary circumstances of the last year and a half, setting new records seemingly left and right,” Reynolds said. “With the ongoing inventory challenges that auto manufacturers are facing across the board, coupled with historically low incentive spending, car shoppers end up being the ones paying the price, quite literally. New-car prices just continue to climb, month after month.”
High prices are pushing some consumers away, however. Total U.S. vehicle sales last month totaled just 1,092,302, which was among the lowest monthly total in a decade and the lowest sales volume since the height of the pandemic in April 2020.
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Comments
In the U.S. the ruination of Buick is just about complete. If not for the Enclave which they can’t produce all you have is a couple foreign vehicles. With ATP’s 12,000.00 a vehicle behind Chevy , Buick is the modern day Geo. Congratulations Mary Smith, whoops I mean Barra you’ve managed to make another division invisible.
Buick does not sell trucks, anything like Blackwing, or Yukon so obviously prices are lower!!
Buick is now a niche CUV brand doing well with Encore, Enclave and now Envision. With time brand reputation will improve and the lineup will increase.
The ATPs are behind Chevy because Chevy has trucks like the Suburban and Tahoe that go into the $60,000s+ and near $70,000.
Can you please find out when we can purchase 2021 Buick Encore GX Select Window Rain Guards??
I have to laugh at the comment by Jofa above. Once again, let’s blame Mary for everything including your burnt toast.
Let’s see this for what it really is: Buick is the ONLY GM brand without the high priced trucks and nothing in the Yukon/XL/Denali or Suburban and Escalade size. Nearly every truck and large suv GM sells is well above the $50,000 mark and many of them are now pushing $100,000. So explain to us how Buick, with the highest priced vehicle they sell topping out around $55,000.00, would be able to achieve an average transaction price of $47,000 or higher? Most of Buick’s sales are for vehicles selling under $35,000.
Dan,
I happen to like burned toast. What is it that I need to explain? Small gm has relegated Buick to what it is, the modern day Geo. You can whine all you want about Buick not having the T1 platform, all it takes is some effort by gm. Unfortunately they would give about the same effort they gave the Avista. Look at the bright side , I think Buick still has a higher ATP than h/k.
Jofa: I think any explanation would be justified on the following (based on your comment above):
1. How is it Mary’s fault that Buick’s ATP is lower than the rest?
2. Explain to us how Buick would ever achieve an ATP over what it is (based on the vehicles they sell) and why you feel the ATP they have is bad?
3. Buick is actually doing quite well. Why do you feel they are the new Geo?
I’m not going to sit here and say you are wrong, but if you intend to complain, whoops, I mean claim what you are, then back it up. I’m simply pointing out how silly I feel your comment is based on the facts.
Right, because what Buick and GM REALLY need is another rebadged suburban/tahoe/Yukon/escalade. I’m sure that will really go well with consumers. Talk about market saturation…
I wonder what the list price of the 2024 Buick Electra, with the Ultium battery, will be?
It will be priced in Yaun. We won’t see it here.
In an article here on GM Authority, “All-New Buick Electra Concept EV Crossover Debuts in China,” dated Sept. 28, 2020, Deivis Centeno wrote, “Although GM hasn’t yet disclosed this openly, the all-new Buick Electra Concept is expected to serve as the foundation for an upcoming, global-market Buick midsize crossover currently in development, and that should hit the market during the 2024 calendar year.”
I think Buick is doing better now then they did two or three decades ago… They are finally losing the old people car stigma… That’s ok when I see a white haired old man driving a Corvette or BMW LOL! But anyway the cars they are making are what people want and that’s all that matters! Good job Buick and GM!
And what is so wrong about white-haired old me? Not all of us are eating red jello and watching Matlock reruns at the retirement home, waiting for Bingo.
I’m 72, arthritic, and have my share of other problems, but I am doing my level best to enjoy my life. If I could fit in one, I’d gladly find one of the low-horsepower Corvettes that sell for nothing and enjoy it for what it offers: a great ride with the top down on a sunny day.
If the Envision was made someplace other than China I would try one on, Its size and design suit my needs fine.
You will be old some day as well; I just hope you are in good enough health to enjoy yourself, and also, not give two hoots what some youngster thinks about what you drive.