The average transaction price of a new Buick vehicle increased by 17 percent between December 2021 and December 2020.
According to a Kelley Blue Book report, a new Buick vehicle transacted for an average price of $40,139 this past December, compared to $34,295 during the same period a year before. The Tri-Shield brand’s ATP remained fairly stable compared to November 2021’s figure, which amounted to $40,110.
Buick’s ATPs were well below the industry average for last month, which stood at $47,077 – up 1.7 percent from November and up 14 percent year-over-year. The most expensive Buick vehicle, the Enclave Avenir, starts at $55,295 with the destination freight charge, while the regular Enclave starts at $41,990. Meanwhile, the Buick Encore, Encore GX and Envision are all priced from under $40,000. With most of its products priced below the industry average, it’s easy to see why the brand’s ATPs are lower than the industry average.
Buick sales decreased 34.8 percent to 28,789 units in the fourth quarter of last year, on the back of slowing sales of the Buick Enclave, Encore and Encore GX. The Envision bucked this trend, though, with sales increasing 9.58 percent year-over-year to 9,286 units. As expected, inventory shortages driven by the semiconductor chip shortage negatively impact Buick vehicles sales. That said, this limited inventory was also the driving factor behind the higher year-over-year ATPs.
“New-vehicle inventory levels remain tight, and with sufficient consumer demand, dealers continue to hold prices at or above the manufacturer’s suggested retail price (MSRP),” KBB said in an analysis.
New car prices are expected to remain elevated throughout 2022 as automakers continue to grapple with the effects of the chip shortage and production setbacks related to the COVID-19 pandemic.
Subscribe to GM Authority for more GM average transaction price news, Buick news, and around-the-clock GM news coverage.
No Comments yet