The average transaction price (ATP) for new Buick vehicle sales was up 16.4 percent in March, as compared to the ATP recorded a year prior.
According to a recent report from Kelley Blue Book, the ATP for new Buick vehicle sales was $39,810 last month, representing an increase of 16.4 percent as compared to an ATP of $34,202 recorded for March of 2021. Compared to the previous month, Buick’s ATP was up 1 percent over an ATP of $39,423 for February of 2022.
With regard to General Motors as a whole, which includes all four U.S. brands (Buick, Cadillac, Chevrolet, and GMC), ATP was up 10.7 percent year-over-year, with a figure of $49,898 recorded in March of 2022, and a figure of $45,073 recorded in March of 2021. GM’s ATP was down 1.9 percent month-to-month, with a figure of $50,876 recorded for February of 2022.
Looking at the broader automotive industry, the ATP for new vehicle sales was up 12.9 percent year-over-year in March, with a figure of $45,927 this year, and a figure of $40,680 for March of 2021. ATP was down 0.3 percent month-to-month as compared to a figure of $46,082 for February of 2022.
According to Kelley Blue Book, the average luxury buyer doled out $65,123 for a new vehicle last month, an increase of $272 month-to-month and an average of $2,550 over sticker price. Luxury vehicle share was down to 15.5 percent of total sales, as compared to 16.3 percent of total sales the month prior and 18.4 percent of total sales in December of 2021.
The latest figures mark 10 straight months of consumers paying over sticker, with continuing high demand and low inventory. Vehicle incentives were down in March, averaging 3.2 percent of ATP.
Looking ahead, continuing supply chain disruptions, low inventory, and high consumer demand all point to elevated vehicle prices going forward.
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