Cadillac Average Transaction Price Down 13.7 Percent In September 2022
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The average transaction price (ATP) for a new Cadillac vehicle fell 0.8 percent month-to-month and 13.7 percent year-over-year in September of 2022, according to a new report.
Per Kelley Blue Book and Cox Automotive, the ATP for a new Cadillac vehicle was recorded at $70,688 last month, a decrease of 0.8 percent compared to an ATP figure of $71,238 recorded the month prior. September’s ATP figure was also down 13.7 percent year-over-year compared to an ATP of $81,878 recorded in September of 2021.
Cadillac’s ATP drop contributed to a collective 1.3 percent year-over-year decline for all four of GM’s U.S. brands (Buick, Cadillac, Chevy, GMC), falling to $52,511 in September as compared to a collective ATP of $53,220 recorded in September of 2021. GM’s ATP last month was also up 0.8 percent compared to a new-vehicle ATP of $52,084 recorded for August of 2022.
More broadly speaking, the ATP for the entire auto industry fell 0.3 percent month-to-month in September of 2022, recorded at $48,094 as compared to an ATP of $48,240 in August of 2022. September’s industry ATP decline marks the first ATP decline for the broader auto industry in five months. Nevertheless, industry ATP was still up 6.1 percent year-over-year compared to an ATP of $45,319 for September of 2021, and well above sticker price as well.
One of the big contributing factors to the elevated industry-wide ATP figure was strong luxury vehicle sales, which accounted for 18 percent of total new-vehicle sales in September of 2022. By comparison, luxury vehicles made up 17.6 percent of total new-vehicle sales in August of 2022.
Per the new report, the average luxury vehicle buyer paid $65,775 last month, a decline of $60 compared to an ATP of $65,835 in August of 2022. Among luxury brands, Mercedes-Benz and Jaguar demonstrated the most price strength last month, transacting at 2 percent to 4 percent over sticker, while Audi, Alfa Romeo, Infiniti, Lexus, Porsche, and Tesla demonstrated the least price strength, transacting at 1 percent or more below MSRP.
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Pricing has reached a plateau.
Should have kept Pontiac and let Cadillac go under when they had the chance years ago.
Pontiac was 10% vs Cadillac 4.5% sales for GM. Who knows why the bean counters make the calls they do.
Pontiac was essentially a bunch of rebadged Chevrolets. IT was a dead brand that sold due to people thinking i was different than a Chevrolet. Cadillac still had a brand and still does today, which is getting stronger as the days go by. The only problem with Cadillac were bad product choices, and overall some terrible decisions. Cadillac also sell for higher profit margins.
I guess we will have to agree to disagree. Pontiac offered cars that were more bang for your buck. Performance and styling was much better than Cadillac. Didn’t share a whole lot between models except Camaro and Firebird . MUCH cheaper to buy, maintain and longer lasting than later Cadillac models.
It is called profit.
It was not just Pontiac. With the exception of Cadillac, the entire line had become homogenized.
The same drive trains were fitted, whether it was a 6000, a Century, or a Celebrity or a Cierra.
The days of HydraMatic, Dynaflow, or PowerGlide dependent on make were gone. Same with various and different engines, or suspension, or finish quality.
It all started with the “New 1977 Chevrolet” when GM really took away the differences between the GM brands. Body and chassis were similar or the same for decades but engines were different. 1977 the engines were nearly the same through all division except maybe Cadillac.
I think it was around 1978 that Oldsmobile was sued because it was learned it was a Chevy Engine, not a Rocket 88 or whatever they called them. After the law suit, labeling, documentation engines were manufactured by “General Motors”. After that and up to the bankruptcy, most vehicles between divisions were rubber stamped. There were a few differences, my son had a 1991 Grand Prix (POS it was) that had a V6 engine that no one else had, Olds had the first turbo’s.
There were in fact two distinct 350 V8s. The Chevrolet, and a different engine for Buick, Olds, and Pontiac, sourced from the Olds division. SOME Olds cars got a Chevy for reasons I do not know.
GM’s only other substitute I can remember: it was one year in the early 50s that some Caddies were built with Dynaflow transmissions from Buick due to a fire at the HydraMatic plant.
The Gentle Grizzly:
Funny that all of GM’s 350 gray iron block and head castings for Olds, Chevy whatever, came out of the GM foundry in Southern Illinois. The engine guts: oil pans, valve covers, pushrods, pistons, etc. came from the same vendors.
I just roll and laugh at these pi%#$#&^g contests.
GM bosses felt the Cadillac brand wanted to compete against the likes of BMW and Mercedes’. Twenty years ago they started to drop the names and used the Alphabet soup of letters and numbers, just like the the European manufacturers. Also the word Cadillac wanted to be used in the model name. Before that everyone knew what a sedan deville was, but today what is an XT4 without using the word Cadillac?
Today, I cannot tell you exactly what models Cadillac has. What is an XT4, 5 or 6. CTS whatever.
Pontiac was not known other than in North America and Australia.
GeorgeS: Amen to that. Names matter. Reading the above comments, I can’t agree with keeping Pontiac instead of Cadillac. Although I will say that when I first got into sales, GM consisted of Chevy, Pontiac, Olds, Buick, Cadillac and GMC. Soon after they added Saturn and Hummer. Personally I would have loved to see GM keep them all but GMC, Hummer and Saturn. IMO, they pi**ed away too much money bringing and then dropping those last two. My feeling is that GM would have been the best served by this:
1. Never bring out Saturn and Hummer.
2. Dropping GMC and giving Chevy the Denali sub-brand.
3. Pushing Cadillac up-scale and keeping names, and not chase the Germans or Japanese.
4. Moving Buick slightly up-scale from Chevy, but not too close to Cadillac and keeping sedans.
5. Keeping Pontiac and truly making it the sporty side of GM, letting it go after the Germans.
6. Sadly, kill off Olds since it was too close to Buick.
Keeping Pontiac as the sporty brand would probably have been in conflict with Chevrolet with its Camaro and Corvette. Pontiac’s position within GM was rather low in visibility until its standout years in the 60’s and early 70’s, with a slow decline there on. I do not think today’s consumers would strongly respond should GM attempt to bring back Pontiac as a sporty brand.
And GM should definitely NOT drop GMC, but continue riding the belief by some that it is an upper level brand to Chevrolet. Trucks are big sellers! PROFESSIONAL GRADE is a good marketing theme which helps it carve out a respectable position in the market. I think GMCs should be coupled alongside Buick at dealerships to maximize their reach.
StuartH:
I agee with you. With GMC it’s purely a jewelry and cosmetic change. The mechanical and electronic guts are the same between Chevrolet and GMC. The cost accountants and management love this.
Got my oil changed yesterday and chatted with the sales guy. Slades are still not being built to meet demand. Worse they are being built shy. One of the things not available was supercruise, which would cut the price. It also seemed like they have more XT4/5 and CT4/5 which would also push down transaction prices. They actually had a few of those on the lot for immediate sale. Slades, the thing that pushes up the ATP, were still order only. Zero on the lot for immediate sale.
The Knudsens and DeLorean made Pontiac a winner. The latter day chiefs of the Pontiac Motor Division did not learn the code from these car men. Sadly Pontiac died a painful death like various other GM divisions. Sloan is spinning in his grave.
At the time of Pontiac’s death they had a version of the Chevy Cobalt, Malibu, Equinox, Venture, and had recently had a “GTO” & G8 imported from Australia. They had years past had a T1000, (Chevette) and a couple from South Korean I can’t remember the name or “number” of. Even the mighty Firebirds/Trans AM’s had Chevy motors for many years. Almost forgot, Soltice/Sky were a part bin mash up. Pontiac had lost its identity for many years, very sad, but so like many gm models today and recently.