The Average Transaction Price (ATP) for new vehicles is rising, and that includes Buick, which realized an ATP in excess of $38,000 last month.
As reported by vehicle valuation and automotive research company Kelley Blue Book, the ATP for new Buick vehicles sold in the U.S. was $38,098 in October of the 2021 calendar year, rising 4.8 percent compared to Buick’s ATP of $36,345 in September of 2021. The October 2021 figure represents an increase of 8.8 percent as compared to Buick’s new-vehicle ATP from October of 2020, recorded at $35,024.
With regard to all four General Motors brands in the U.S., including Buick, Cadillac, Chevy, and GMC, the GM vehicle ATP in October of 2021 was $54,448, an increase of 2.3 percent from the month prior, during which GM had an ATP of $53,211. GM’s October 2021 figure was up 21.4 percent year-over-year when compared to the automaker’s ATP from October of 2020, recorded at $44,861.
The high overall increase in ATP for General Motors reflects rising ATPs across the auto industry. Per the Kelley Blue Book report, the ATP for all new vehicles sold in the U.S. was $46,036 in October of 2021, rising 2 percent from September of 2021 ($45.125), and 12.9 percent from October of 2020 ($40,770).
The rise in ATPs across the industry is primarily attributed to continuing demand amid rapidly diminishing supply as a result of the ongoing global microchip shortage. Additionally, automakers have drastically reduced incentive spending, with an average of 4.3 percent of ATP in incentive spending during October of 2021, as compared to 5.6 percent of ATP the month prior, and 9.1 percent of ATP in October of 2020. Finally, sales saw an uptick in customer demand for luxury vehicles, large pickups, and large SUVs, driving ATPs even higher as a result.
With regard to overall new vehicle sales, the figures were up slightly month-over-month, rising 4.1 percent to 1,056,137 units. Compared to figures from 2020, however, sales were down a considerable 22.4 percent.
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Comments
this is interesting. our friends here at GMauthority reported earlier Chevy’s ATP at $51,000 and GMC $63,000. Is Buick’s low number any reflection to low low sales for the high-end Avenir line? Granted Buick’s best selling nameplate, where a good chunk of their sales is from, is the Encore GX which starts at $24,000 and maxes out around $38,000.
It’s because Buick doesn’t sell $60,000+ pick up trucks and a full sized SUV Escalade variant.
The most expensive Buick is a fully loaded Enclave which built on their website is around $65k but obviously no one pays near that in reality.
Anyone who pays $60+K for a pickup either has a large horse trailer or equivalent to haul frequently or has a screw loose.
It’s more that Buick doesn’t have the high-end vehicles (trucks) that Chevrolet, GMC, and Cadillac have.
I’m sure we will get some interesting comments on here about how Buick’s ATP is so much lower than GMC and Cadillac and even Chevy.
Simple: Take just Chevy and GMC. Remove every truck and the Tahoe/Yukon, Suburban/Yukon XL and any Denali trim. Anyone willing to bet that Buick’s would be slightly higher than Chevy’s and about the same as GMC if you did that?
I wish that GM Authority would catch up on the Buick news. At this writing, they have yet to report about the latest annual Consumer Reports Reliability Study, in which Buick was the ONLY domestic brand that be in the top 10 (besting Chevrolet, Cadillac, and GMC in that regard – for those who always make it a competition among GM marques). Also, about the luxurious Buick GL8 Flagship Concept and the futuristic Buick Smart Pod Concept unveiled at Auto Guangzhou 2021. Photos of both vehicles are available elsewhere.
Welcome to the bizarre new world where trucks are high-end vehicles and Buick is gm’s low cost leader
I wonder if it is because there isn’t the same supply issue as many Buicks are produced in China
for export and well built!