Vehicle prices continue to rise, including for new vehicle sales. Cadillac is part of that trend, with the average transaction price (ATP) for new Cadillac vehicle sales up in the month of December.
According to a recent report from automotive research company Kelley Blue Book, the ATP for new Cadillac vehicle sales was recorded at $79,182 in December, an increase of 11.8 percent compared to Cadillac’s ATP recorded a month prior ($70,811). The December 2021 figure is also up 25 percent year-over-year as compared to an ATP of $63,366 in December of 2020.
With regard to all four General Motors U.S. brands, including Cadillac, Chevrolet, GMC, and Buick, the ATP for new-vehicle sales in December of 2021 was set at $53,580, an increase of just 0.3 percent compared to the ATP of $53,436 recorded in November of 2021. However, compared to the year prior, the December 2021 ATP for GM is up 20 percent against an ATP of $44,668 recorded in December of 2020.
Meanwhile, the ATP for new Chevy vehicles dipped in December of 2021, as did the the ATP for new GMC vehicles.
The broader automotive industry ATP was up 1.7 percent to $47,077 as compared to $46,269 in November of 2021, and up 13.9 percent as compared to an ATP of $41,335 recorded in December of 2020.
Unsurprisingly, the main driver in ATP increases seen last month were new luxury vehicles.
“December typically is the best month for luxury vehicle sales, and 2021 followed that trend in a big way,” said analyst for Cox Automotive Kayla Reynolds. “The result was another record in overall average transaction prices, completely driven in December by the increase in luxury vehicle sales.”
Meanwhile, the ongoing global microchip shortage continues to impact inventory, with sales at historic lows at 1,219,034 units sold in December of 2021. That said, the December figures represent a small uptick after six months of sales decline, which bottomed out in November of 2021.
Subscribe to GM Authority for more Cadillac news, General Motors business news, and around-the-clock GM news coverage.
No Comments yet