The average transaction price (ATP) for a new Buick vehicle increased by 2.5 percent month-to-month and 8.6 percent year-over-year in September 2022.
Per a new report from Kelley Blue Book and Cox Automotive, the ATP for a new Buick vehicle was recorded at $39,473 in September of 2022, representing a 2.5-percent month-to-month increase compared to an ATP of $38,530 recorded in August of 2022, and an 8.6-percent year-over-year increase compared to an ATP of $36,341 recorded in September of 2021.
By comparison, the ATP for the other three GM U.S. brands (Cadillac, Chevy, and GMC) all experienced a year-over-year decline. Collectively speaking, the four U.S. GM brands’ ATP was down 1.3 percent last month, falling to $52,511 from an ATP of $53,220 recorded for September of 2021. GM’s ATP increased 0.8 percent month-to-month from a figure of $52,084 recorded for August of 2022.
As for the broader automotive industry, the new-vehicle ATP was up 6.1 percent year-over-year, increasing from $45,319 in September of 2021 to $48,094 in September of 2022. However, last month’s industry ATP figure was down 0.3 percent month-to-month from $48,240 in August of 2022.
New-car shoppers in the non-luxury segment paid an average of $829 above sticker price last month, a small decline compared to figures from August of 2022. Buick, however, was among the car brands showing the most price strength in the non-luxury segment, joining Mazda and Dodge in transacting between 2 percent and 4 percent over sticker price last month. Meanwhile, Ford, Honda, and Toyota all showed the least price strength, transaction at 1 percent of more below MSRP in September of 2022.
Notably, new-vehicle incentives saw yet another decline last month to just 2.1 percent of ATP, as compared to an average of 5.2 percent of ATP recorded for September of 2021. Additionally, strong luxury vehicle sales are seen as a major factor in the current elevated average new-vehicle prices, with luxury vehicle share at an historic high of 18 percent of total vehicle sales.
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Comments
Congratulations to Buick on this achievement!
How much of the increase is solely due to mandatory connected services?
Mandatory OnStar is what increased the average price, you lost me as a customer… I’ll buy a brand that still lets me choose the options that I like.
Mandatory Onstar is not a option.I think it is time for me to look at other brands .Good by GM,
The main reason Cadillac is down on ATP is the XT4 is available in good numbers( newsflash most sold are the top of line), same for the Chevy brand .. Malibu was gone for nearly a year for lack of chips. GM still has the most enviable days to sell, with many vehicles sold in transit. Sure the rising interest rates have slowed the market a bit, that should spread evenly among the top tier manufactures tho.