The average transaction price of a Cadillac vehicle exceeded $80,000 USD in September 2021.
According to data compiled by Kelley Blue Book, the average transaction price of a Cadillac vehicle last month stood at $81,938, a significant 51.2 percent increase from September 2020, when the luxury brand’s ATPs stood at $54,202. September’s ATPs were also up 8.7 percent from $75,399 in August 2021.
Just like in August, the Cadillac Escalade was the driving force behind Cadillac’s unprecedented ATPs in September. Consumers continue to shell out six-figure sums for the full-size luxury SUV, which received a complete redesign for the 2021 model year. The Cadillac Escalade was also among the top 20 fastest-selling vehicles in September 2021 and boasted a ridiculously high ATP of $99,798. This outclassed one of its direct rivals, the Mercedes-Benz GLS, which had an ATP of $97,359 last month.
KBB says new vehicle prices hit another all-time high in September 2021 at an average of $45,031. This was largely due to the mix of vehicles sold, the publication says, with more and more consumers opting for large mid-size and full-size SUVs. Luxury vehicle sales also accounted for 16.6 percent of total market sales, up from 15.1 percent in September 2020, driving up industry ATPs even further.
“Luxury share in September was among the highest in the past decade, and luxury buyers paid an average of $60,845 for a new vehicle last month,” KBB said.
The COVID-19 pandemic and semiconductor chip shortage have resulted in inventory shortages for popular vehicles like the Escalade. This has driven up ATPs, with more buyers showing a willingness to pay MSRP or sometimes even above asking price to get the vehicle they want. Incentive spending is also down, with many automakers seeing little reason to offer discounts on vehicles that will find buyers in relatively short order. Incentive spending dropped to 5.2 percent of the average transaction price last month, a new record low.
High ATPs will likely remain in place as automakers continue to grapple with lower-than-usual production output due to the ongoing global chip shortage. Experts have warned the chip shortage could last well into 2023 due to sustained high demand.
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Comments
Hay Mary I see that your high end cars still come off the line. What about the Chevy cars that most people can afford the lots are empty. I guess its all about the $$$$ don’t worry about the middle class people that can keep GM afloat by buying in volume.
All the lots are empty. My caddy dealer had 5 new vehicles on the lot. The chevy dealer had a few dozen. There is an imbalance at the moment.
Of course it’s all about the money, they’re a publicly traded corporation. Their goal is to return value to their shareholders, it’s not a charity.
I’m nowhere near ready to afford a Cadillac, let alone a Buick or GMC… but it amazes me how many people can afford these vehicles especially with the increased prices. I understand leases help but even now a dealer told me they are looking at 800 dollar a month leases on CT4s, assuming you can find one.
Guys theses are fleet and livery’s sales. A few Escalades have gotten into the public but this is all fleet sales.
No it is not.
@Jake: sure…LOL! Go check your facts.
I dont have so anything I can see the limo pool and the Hertz and Avis lots at the airport.
*Pop Quiz*
Q: Your business has been struggling for years because of Uber & Lyft. Then came the pandemic reducing business to almost nothing for a year. What do you do now?
—-
Jake: use magic imaginary money to buy a whole fleet of Escalades.
The fleet and livery Escalades and Tahoe’s have specific options not on retail units. I saw 4 Escalades in the limo pool tonite. Great looking SUV’s
I’ve seen livery Escalades and they are a few in general. The only way you can tell a livery is by looking at the license plate which looks different and comes off as an official government plate but is for livery use only.
Apparently, you have excellent eye site to know you spotted a livery ‘Slade far away or you are truly brainwashed to think most of the Escalades are livery.
I live in NH and I guess I just look at different cars being in the livery industry. There are a few really great looking Tahoe’s and Yukons and Escalades driving around my town. The civilian owned units are easy to spot. Regular plates. At Logan airport and in The Boston area there are many of these running around. Most have livery plates and or Massachusetts vanity plates with the company’s name abbreviations on them. I’m happy that the owners of these limo services can get newer vehicles. It’s very stressful to have older units in inventory. The miles and wear and tear is hard. The transportation industry has taken and wack and I hope it gets better.
Brainwashed? No. There are many of these out and about that aren’t livery. I’m happy that people can drive a full size suv. If they can be comfortable in their vehicle of choice. This is America and we can drive anywhere and anything we want. I guess I am brainwashed in the fact we are a free society and we can say anything. 😃
Fair enough. I believe each city is different and cater the livery service more than others. Heavily congested downtown areas you will see livery more so.
For every sucker there is a seat!
We bought a Cadillac XT4 in April when there was a decent supply and we love it!
Why it’s a trash car. You must have very low ambitions in life. SMH do better brother.
And why is it your business what he does with his money? What car do you own that makes it better than his car?
And why is any of your business what I said to him?
Gee Rex, that is a stupid question to ask back. It is a public site for one thing but it does not give you a right to be nasty to people based on what they say.
Perhaps you need to lift yourself to be a better human being in life instead of being an insolent jerk.
Get out of here troll leave people alone you piece of trash. Every time I see you comment you always make a fool out of yourself.
Hey little girl. Between the both of us, we know which one of us is a true troll do you? I find it fascinating you always have to respond to me and can’t leave things well enough along, can’t you mosquito? And you talk about who makes a fool out of whose self?
At least it is nice to know that you were talking about yourself loud and clear.
Yes you. I only state facts you troll and insult people.
You stated no facts on here whatsoever and you are constantly so bothered on everything I post on here that it is taking too much of your time. I should be flattered that you are giving me so much attention or you are just creepy looking for attention. Personally, I think the latter which you represent in your daily life or lack thereof.
However, your last sentence describes best about you and I agree 100% about your own character.
Just ignore the idiot bro.
Although this looks to be great news for Cadillac now, let’s wait till all this disruption in the auto industry is over and things (hopefully) get back to somewhat normal. What people need to understand about this is that there are no (and have not been any) CT4’s or CT5’s for sale to speak of. The XT4 has better inventory than the sedans, but not by much. This may not be what’s best for the more common folks like me, but Cadillac/GM is smart to be allocating chips to the highest grossing models.. To top that off, because even the higher grossing vehicles are in short supply, the “markup” is amazingly high on these vehicles. Thus driving the ATP even higher. A few months back I had the CT4 in for an oil change and walked around the dealership while waiting. They had zero CT4/CT5’s, a couple XT4 and XT5’s, one XT6 and about 10 Escalades. The lower priced models had $2-5,000 markup, but every Escalade had at least $10,000 and up to $30,000 in markup. Crazy.
So when this all goes away, lets see where all these brands ATP goes to and stays.
Excellent post Dan. You are so right on every point and observation of this topic.
Oh Dan you made such a great post I admire you so much Dan. Geez what a loser no wonder nobody likes you and everyone thinks you are trash.
I agree little girl. Everything you said about yourself is very true on here.
Yesterday I drove down Route 1 and saw 8 brand new Beautiful Escalades in front of the Cadillac dealer. And a couple of used units. Great looking SUV’s. Couldn’t get over to take a picture I was in rush hour traffic. Maybe Herb Chambers Cadillac gets a good allotments.