The average transaction price (ATP) for a new Buick vehicle rose nearly 10 percent in August of 2022, as compared to ATP figures recorded for August of 2021.
According to a recent report from Kelley Blue Book, the ATP for new Buick vehicles was $38,492 last month, a 9.7-percent year-over-year increase compared to an ATP of $35,088 recorded for August of 2021. New Buick ATPs were also up month-to-month, rising 0.8 percent from a figure of $38,204 recorded for July of 2022.
As GM Authority reported last month, new Buick ATP was recorded at $38,214 in July of 2022, a 5.8-percent increase year-over-year compared to an ATP of $36,111 for June of 2022.
Buick was among the brands with the least price strength last month, selling 1 percent or more below MSRP in August.
Collectively, the ATP for all four of GM’s U.S. brands increased 5.2 percent year-over-year to $52,175 in August of 2022, as compared to a collective ATP figure of $49,574 recorded for August of 2021. Month-to-month, GM’s collective ATP figures rose 1.9 percent from $51,206 in July of 2022.
The ATP for the broader automotive industry was up as well, rising 10.8 percent year-over-year from $43,589 in August of 2021 to $48,301 in August of 2022. Industry ATP was up 0.5 percent from a figure of $48,080 in July of 2022.
According to the recent Kelley Blue Book report, new-vehicle inventory days’ supply for the broader auto industry was steady in the mid-to-high 30s over the summer, up 43 percent in August as compared to available inventory during the same time period in 2021. New vehicle inventory last month was estimated at 1.2 million units, well below levels in 2020 and 2019. New-vehicle sales are down to 1.1 million units per month this year, as compared to an average of 1.4 million units per month recorded for the first eight months of 2019.