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Chevrolet Average Transaction Price Up 5.9 Percent In April 2022

The Average Transaction Price (ATP) for new vehicles last month remained at an elevated level as compared to 2021, including for Chevrolet.

According to a recent report from Kelley Blue Book, the ATP for new Chevrolet vehicles was recorded at $46,225 in April of 2022, an increase of 5.9 percent year-over-year as compared to an ATP of $43,647 recorded in April of 2021. Notably, the ATP for new Chevrolet vehicles fell 0.7 percent month-to-month between March and April of 2022, with a figure of $46,542 recorded in April.

With regard to all four of GM’s U.S. brands, including Buick, Cadillac, Chevrolet, and GMC, ATPs were up 6.3 percent year-over-year last month, with a figure of $49,741 recorded in April of 2022, and a figure of $46,795 recorded in April of 2021. Month-to-month, GM’s ATP was down 0.4 percent, with a figure of $49,920 recorded in March of 2022.

Stepping back even further, the ATP for the broader automotive industry was up 13 percent year-over-year last month, with a figure of $46,526 recorded in April of 2022, and a figure of $41,172 recorded in April of 2021. Between March of 2022 and April of 2022, the broader industry ATP was up 0.7 percent from $46,223 to $46,526.

According to the Kelley Blue Book report, new vehicle inventory remained sparse in April of 2022, with an average supply in the low 30-days range, while customer demand remained high. As such, most dealers continued to sell inventory at or above the manufacturer’s suggested retail price (MSRP).

“For nearly a year now, we’ve seen new vehicles transacting above suggested retail prices,” said research manager of economic and industry insights for Cox Automotive, Rebecca Rydzewski. “High prices, a lack of inventory, few incentives – the market is changing, pushing many would-be buyers to the sidelines and forcing others to order from future stock and wait. We expect new-vehicle affordability will be a challenge for the foreseeable future.”

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Jonathan is an automotive journalist based out of Southern California. He loves anything and everything on four wheels.

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Comments

  1. Dealership are having a field day selling vehicles for over MSRP

    Reply
  2. It’s becoming much less common. Obvious some still play the game especially with new release models such as the ZR2/Z06. But now that production is ramping and the market is equalizing, the threat of losing allocation through complaints to GM is real.

    Most hide behind a “protection package” they charge thousands for that’s spray wax and 50 dollars in front window tint.

    Shop around gentleman.

    Reply
  3. Putinflation strikes again or is it “transitory”?

    Reply

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