GMC Sierra Average Transaction Price Highest Among Full-Size Pickups In Q3 2022
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The full-size pickup segment is as popular as ever, and customers aren’t shy when it comes to choosing high-end models and features. That includes the GMC Sierra, which, according to recent data, had the highest average transaction price (ATP) among competitors.
According to a recent report from Cox Automotive, the GMC Sierra boasted an ATP of $69,878 in Q3 of the 2022 calendar year, up an impressive 12.5 percent year over year. The figure places the GMC Sierra well above its competitors:
- GMC Sierra: $69,878
- Toyota Tundra: $60,049
- Chevy Silverado: $60,445
- Ram 1500: $63,068
- Ford F-Series: $63,866
Note that the ATP figure listed above for the Ram 1500 do not include the Ram HD.
The rest of the GMC lineup also posted a year-over-year increase in ATP in Q3 of the 2022 calendar year, with the GMC Terrain up 4.5 percent ($36,313), the GMC Yukon up 3 percent ($75,954), the GMC Yukon XL up 1.8 percent ($78,939) and the GMC Acadia up 3.9 percent ($46,517).
That said, sales for the GMC Sierra fell during the quarter, dropping 4.9 percent year over year to 50,169 units. Total U.S. sales for the GMC brand increased 24 percent to 120,512 units, with the GMC Terrain jumping 81 percent to nearly 18,000 units. GMC also sold 411 units of the new Hummer EV during the quarter.
Sales Results - Q3 2022 - USA - GMC
| MODEL | Q3 2022 / Q3 2021 | Q3 2022 | Q3 2021 | YTD 2022 / YTD 2021 | YTD 2022 | YTD 2021 |
|---|---|---|---|---|---|---|
| ACADIA | +52.33% | 14,406 | 9,457 | -29.83% | 39,072 | 55,679 |
| CANYON | +41.45% | 7,750 | 5,479 | +19.15% | 21,411 | 17,970 |
| HUMMER EV PICKUP | * | 411 | * | * | 782 | 0 |
| SAVANA | +291.92% | 8,681 | 2,215 | +36.75% | 18,469 | 13,506 |
| SIERRA | -4.94% | 50,169 | 52,774 | -11.55% | 169,107 | 191,186 |
| TERRAIN | +80.96% | 17,917 | 9,901 | +51.08% | 65,619 | 43,434 |
| YUKON | +17.31% | 12,591 | 10,733 | -5.55% | 34,924 | 36,975 |
| YUKON XL | +28.26% | 8,587 | 6,695 | +8.13% | 24,620 | 22,768 |
| GMC TOTAL | +23.91% | 120,512 | 97,254 | -1.97% | 374,004 | 381,518 |
Taken as a whole, GM’s total sales were up 25 percent for the quarter, outpacing the broader automotive industry by a fair margin. GM’s market share was up 3.2 percent to 16.2 percent, with GMC accounting for a 0.7 percent gain.
It’s also worth highlighting that the ATP for the Ram 1500 was higher than that for the Chevy Silverado, recorded at $63,068 and $60,445, respectively. As a reminder, the Ram 1500 lineup includes both the “current-generation” truck and the “previous-generation” truck, the latter of which was renamed as the Ram 1500 Classic and is still built as a more-affordable alternative.
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Not surprising when the GMC/Chevy brand split separates the high-trim models from the work trucks. What affects GM’s finances is the ATP of the combined models, though.
That’s nothing to brag about
Speaking of GMC, it has hit paydirt with its two sub-brands. You probably heard of Denali, an expensive trim level that GMC offers on all its models, and accounts for 30% of its sales. In fact, on the Yukon, the Denali trim level accounts for 56% of sales. But have you heard of AT4? To attract younger, upscale buyers, GMC introduced the sub-brand AT4, which stands for all-terrain four-wheel drive. Even though it’s relatively new and not yet available on all models, AT4 accounts for 15% of sales. Get this, thanks to those sub-brands, GMC now has the second highest transaction prices in the market, second only to Mercedes-Benz. And that kind of begs the question: is GMC a truck brand, or is it really a luxury brand? AutolineDaily
It’s not a luxury brand if you can’t get chips for the luxuries.
Dude, it isn’t just GM. Mercedes was hit hard (especially the AMG models) and losing certain LED lights, premium audio options and hands free gate access. Ford lost Navigation, BMW lost touch screen function. Some people in here want to believe it is just GM, no, it is the entire industry. Go check out other forums and the wait times they are experiencing or options they can’t order or get…
Though near $70K transaction prices for pick ups is still kinda crazy to me, I hope that $9K difference is a nice hot cup of STFU for the people that say that GMC should be dropped.
When the only way to get a real map for your navigation is to add a $4k package you don’t otherwise need, it’s easy to see the ridiculous escalation of ATP. NOT TO MENTION THIS MANDATORY ONSTAR JUNK. My wife’s Mazda 3 cost less than half of what our 2020 Sierra, yet it has a simple SD card-based nav. No onstar call needed. AND we get an actual map. The,Mazda is 4 years older than the truck. Ridiculous.
Good luck I ordered a Denali in Nov.2021 to this day Nov,5th 2022 it has not been delivered yet and is still sitting in a holding yard in Sialo Mexico. Keep in mind it was produced April2,2022. Myself and the dealer have no idea if it will be delivered this year. you can’t make this stuff up, my last update was from August from GM. Call Mike at GM 855 880 1500 ext. 5924413, watch the blame game in action