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Cadillac Average Transaction Price Drops 13.9 Percent In October 2022

Cadillac customers paid significantly less for a new vehicle last month as the Cadillac average transaction price (ATP) figure dropped nearly 14 percent year-over-year.

According to a recent report from Kelley Blue Book and Cox Automotive, the Cadillac new-vehicle ATP figure was recorded at $69,809 in October of 2022, a 13.9-percent year-over-year decline from an ATP figure of $81,052 recorded for October of 2021. Cadillac ATP was also down slightly month-over-month, falling 1.3 percent from a figure of $70,718 recorded in September of 2022.

With regard to GM as a whole, including collective ATP figures from all four of GM’s U.S. brands (Buick, Cadillac, Chevy, and GMC), the ATP for a new GM vehicle was down 3.7 percent year-over-year, falling from $54,454 in October of 2021 to $52,416 in October of 2022. Last month’s ATP figure was also down 0.1 percent month-over-month from $52,473 in September of 2022.

Meanwhile, ATP for the broader automotive industry was up 3.8 percent year-over-year in October of 2022, rising to $48,281 from a figure of $46,506 recorded for October of 2021. Additionally, the broader auto industry ATP was up 0.2 percent month-over-month from $48,206 for September of 2022.

According to the report, strong luxury vehicle sales were one of the primary factors in elevated ATP figures for the broader auto industry, with luxury sales accounting for 17.8 percent of total vehicle sales last month. That figure was down slightly month-over-month from 17.9 percent in September of 2022. BMW and Porsche had the most price strength in the luxury market, averaging 3 percent to 5.5 percent over sticker price, while Cadillac, Acura, and Mercedes-Benz had the least price strength at 1 percent or more below MSRP.

Notably, automotive incentives remained at historically low levels in October of 2022, although luxury vehicles had the highest incentives last month at 4.4 percent of ATP. By comparison, broader auto incentives were recorded at an average of 2.1 percent of ATP. High-performance vehicles, vans, minivans, and luxury full-size utility vehicles had the lowest incentives at less than 1 percent of ATP.

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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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