The Average Transaction Price (ATP) for new Chevrolet vehicles was up 17 percent last month, as compared to ATPs recorded in January of 2021.
According to a recent report from Kelley Blue Book, the ATP for new Chevrolet vehicles last month was $47,882, an increase of 17.4 percent as compared to the ATP of $40,787 recorded in January of 2021. Notably, ATP fell 2.9 percent between January of 2022 and December of 2021, with the latter recorded at $49,337.
As a whole, all four of GM’s brands in the U.S. (Chevrolet, Buick, GMC, and Cadillac) saw ATPs increase between January of 2021 and January of 2022, with the former recorded at $44,668, and the latter recorded at $52,206, an increase of 20 percent. Between December of 2021 and January of 2022, ATPs for all four U.S. GM brands were down slightly, with ATPs in December of 2021 recorded at $53,436.
More broadly speaking, ATPs across the U.S. auto industry were up 12.5 percent when comparing January of 2022 to January of 2021, with the former recorded at $46,404, and the latter recorded at $41,248. However, ATPs were down 1.8 percent between December of 2021 and January of 2022, with the former recorded at $47,243.
The fall in ATPs across the auto industry is primarily the result of lower luxury vehicle sales last month, with luxury vehicle sales falling to 16.3 percent of total sales in January 2022, as compared to 18.4 percent of total sales in December of 2021. However, prices are still significantly elevated compared to prices last year. Although low, new-vehicle supply appears to be holding steady, while customer demand remains strong.
“The surge in new-car prices appears to have peaked,” said executive analyst for Cox Automotive Michelle Krebs. “Yet, while we expect vehicle supply to improve, it will continue to be tight particularly through the first half of the year. Because of this, we expect prices to remain high for the foreseeable future, but car shoppers can rest assured we don’t anticipate any more record highs.”
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Comments
The Chevy dealers here are playing straight up msrp or they are about a grand off.
The GMC dealers are marking up $3,000 over msrp and then taking $1,000 off the mark up.
The Acadia Denali that we bought last year for $46,000 is now $58,000
I would walk before I pay that.
C8.R – Just wait till the market corrects itself and all these morons who paid huge markups are going to be so under water. The repo companies are going to be busy.
I’m with you. It’s ridiculous what’s going on.
Cadillac sells for an average of $18,200/vehicle more than Lincoln. That has to infuriate Jim Farley who once said f *** GM.
i think that could change here soon or the gap could at least close a little, lincoln has finally stepped up their game and are now selling competitive products for the first time probably since the 80’s.
The family owned Chevy-Buick-GMC dealer I’ve dealt with for years, is currently selling everything for sticker. The only discounts they honor are the few factory incentives available. They won’t even except programs like the GM Supplier Discount. But compared to most dealers around here, they’re practically giving cars away. The Chevy store that’s closest to me is adding a “market adjustment” to everything on their lot, ranging from $1200 for stripper Silverado WT’s, to $6500 on Trail Bosses and High Country’s.
It all makes me glade I took delivery of my Sierra Denali last April, just before things started to get nuts.
I just won’t buy anything until it’s normal again. Guess I get to keep my money !
My son works as a Chevy sales rep and paid msrp from his dealership for a new camaro……