Last month, the average transaction price (ATP) for new GMC vehicle sales was up 4.3 percent as compared to ATP figures recorded in March of 2021. Additionally, the ATP for new GMC vehicle sales was up 0.5 percent as compared to figures recorded in February of 2022.
According to a recent report from Kelley Blue Book, the ATP for new GMC vehicles was recorded at $56,898 last month, representing a 4.3-percent increase as compared to an ATP of $54,572 recorded in March of 2021. The latest GMC vehicle ATP figure was up 0.5 percent as compared to an ATP of $56,613 recorded in February of 2022.
Collectively, all four GM brands in the U.S., which include Buick, Cadillac, Chevy, and GMC, saw ATP increase year-over-year to $49,898, a 10.7-percent rise as compared to an ATP of $45,073 for March of 2021. GM’s collective ATP figures were down 1.9 percent month-to-month, as compared to an ATP of $50,876 for February of 2022.
In terms of the broader automotive industry, new-vehicle ATP was up 12.9 percent year-over-year in March to $45,927, versus an ATP of $40,680 for March of 2021. The broader auto industry figure was also down 0.3 percent month-to-month as compared to an ATP of $46,082 for February of 2022.
According to the Kelley Blue Book figures, the segment with the biggest rise in ATP year-over-year were Hybrid/Alternative Energy Cars, up 26.9 percent to $38,545 last month as compared to $30,381 in March of 2021. The figures were up 8.6 percent month-to-month from $35,488 in February of 2022.
By comparison, the ATP for the Full-size Pickup Truck segment was up 8.9 percent year-over-year to $60,289, as compared to $55,373 for March of 2021. The segment was also up 0.7 percent month-to month versus an ATP of $59,880 for February of 2022.
Going forward, continuing disruptions to production and high consumer demand are expected to keep vehicle inventory tight and vehicle prices high.