Chevy Average Transaction Price Tops $51,000 In October
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The Average Transaction Price (ATP) for new Chevy vehicles broke the $51,000 mark amid rising new-vehicle ATPs across the auto industry.
Per a recent report from vehicle valuation and automotive research company Kelley Blue Book, the ATP for new Chevy vehicles was $51,441 in October of 2021, a rise of 2.1 percent compared to September of 2021, during which the Bow Tie brand recorded an ATP of $50,399. Notably, the figure recorded in October of 2021 represents a 22.8-percent increase compared to the brand’s ATP recorded in October of 2020, during which Chevy had an ATP of $41,898.
Taken as a whole, all four of GM’s U.S. brands (Buick, Cadillac, Chevy, and GMC) recorded an ATP of $54,448 during October of 2021, a rise of 2.3 compared to an ATP of $53,211 recorded in September of 2021, and a rise of 21.4 percent compared to an ATP of $44,861 recorded in October of 2020.
More broadly speaking, the ATP for thegreater auto industry was $46,036 during October of 2021, a rise of 2 percent compared to an ATP of $45,125 recorded the month prior, and a 12.9-percent increase compared to an ATP of $40,770 recorded in October of 2020.
The rapid rise in ATPs is attributed to continuing demand and dwindling supply amid the ongoing global microchip shortage. Driving the price increase was an uptick in luxury vehicle sales, as well as an uptick for large pickups and SUVs. Incentives are also low, falling to 4.3 percent of ATP in October of 2021, as compared to 5.6 percent of ATP in September of 2021 and 9.1 percent of ATP in October of 2020. All brands studied in the latest Kelley Blue Book report reduced incentive spending month over month.
Total new vehicle sales across the auto industry increased slightly month over month in October, up 4.1 percent to 1,056,137 units. However, industry new vehicle sales were well below figures recorded last year, dropping 22.4 percent.
In response to the microchip shortage, automakers are prioritizing high-end models. That includes General Motors and Chevy, reserving available microchip supplies for its most profitable models.
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and coming soon “without heated seats or steering wheel”……
Only on some models. Maybe read farther than the headline. Other makers are doing th same thing.
I’m gonna sit this crap out till there’s no chip shortage and 10k off truck month!
If I’m reading it right:
Cadillac has the third highest ATP ($81,144) on that list, second only to Porsche ($100,878) and Land Rover ($88,968)… trailed by Jaguar ($74,953), Mercedes ($74,013) and BMW ($64,295).
GMC is not far behind ($63,506) and actually GREATER than Lincoln ($62,096), Audi ($60,967), Infiniti ($59,085), Volvo ($56,017), Tesla ($54,560) and Lexus ($53,995)!!
Full-size trucks and SUVs are big business. At the same time, they have higher costs in materials, labor, shipping, and now, acquisition of CAFE and emissions credits.
Facts are facts. GMC has almost surpassed BMW’s ATP… just wait till Hummer sales start.
not sure if this is just me here, but this ATP is crazy insane. $50,000+ average price for a Chevy!!!! Where are folks getting the money to afford this kind of reality????
I dont know about everywhere else but here in Georgia it looks like the car dealerships are more out of business then in. Lots are empty. I ordered car in late march and as of today it still has not been delivered
That includes the Trucks & 7 yr loans! No problem for the public ??
Wonder what it is taking out the trucks & truck body vehicles.
Lers go to the dealerships and ask the techs the failures and postives of auto repair on all models.
Asinine the point we’ve reached. If this isn’t a red flag, you’re beyond help. How do the globalists achieve their climate goals? This is how. Soon all the slobbering mouth breathers will rely on automated rideshare pods or cattle carlike mass transit… and bicycles and…
To the rich go the spoils. They’re laughing at us while they “build back better” – all the way to their offshore bank accounts. It’s all a sham. When dear silver tongued Barack talked about “redistribution of wealth”, it was just assumed that he was for a more equitable society. Nope. Word has it, the textbook wealth consolidator just purchased another elite oceanside property. So much for those rising sea levels. It’s all a joke, people. The joke’s on you and me.
No, the joke is just on you-
You are not very perceptive. Keep boiling, Froggy.