New vehicle prices remain high, and that includes Buick. In fact, one recent report indicates that the Average Transaction Price (ATP) for new Buick vehicles was up nearly 20 percent in January of 2022.
Per a recent report from Kelley Blue Book, the ATP for new Buick vehicles was $41,429 last month, an increase of 19.9 percent as compared to the ATP of $34,544 recorded in January of 2021. The month-to-month change in new Buick ATP was not quite as high, rising just 3.2 percent from an ATP of $40,142 recorded in December of 2021.
With regard to all four GM brands in the U.S., including Buick, Cadillac, Chevy, and GMC, the ATP was up 20 percent year-over-year, rising from $44,668 in January of 2021 to $52,206 in January of 2022. The month-to-month ATP was down, with a figure of $53,436 recorded in December of 2021.
As GM Authority covered previously, Chevrolet’s ATP was up 17 percent year-over-year last month, while Cadillac’s ATP was up 29 percent year-over-year last month.
ATP figures for the broader automotive industry rose 12.5 percent year-over-year between January 2021 and January 2022, recorded at $41,248 and $46,404, respectively. Month-to-month, ATP figures for the broader automotive industry dipped 1.8 percent from $47,243 recorded in December of 2021.
As indicated in the recent Kelley Blue Book report, the fall in month-to-month ATP for the broader automotive industry in January is the result of lower luxury vehicle sales. Per the report, new luxury vehicle sales fell to 16.3 percent of total sales last month, as compared to 18.4 percent of total sales in December of 2021.
That said, new vehicle prices are still elevated as compared to prices a year ago. What’s more, vehicle inventory is low, but holding steady, while customer demand remains high.
According to executive analyst for Cox Automotive Michelle Krebs, new-vehicle prices appear to have peaked, and although vehicle supply is expected to improve, it is also expected to remain low through the first half of the year.
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