A new Buick vehicle saw its average transaction price (ATP) drop one percent to $39,692 per vehicle in November 2022 as compared to $40,105 during the same timeframe last year.
According to a report from Kelley Blue Book and Cox Automotive, the ATP for a new Buick vehicle went the other direction on a month-over-month basis, rising 2.2 percent from an October 2022 ATP of $38,848 per vehicle.
This year-over-year fall in Buick ATP figures was a part of a larger year-over-year decline in transaction prices for parent company General Motors. Including all four GM brands offered in the U.S. – Chevy, Buick, Cadillac and GMC – the ATP for a new GM vehicle was $52,441 in November 2022. This represents a 1.9 percent decline as compared to November 2021 numbers but a rise month-over-month. GM’s ATP in November 2022 rose 0.1 percent from October 2022 figures, where the ATP stood at $52,378 per vehicle.
As a whole, the automotive industry recorded a 4.4 percent year-over-year increase in ATP, up to $48,681 in November 2022 as compared to $46,661 in November 2021. Additionally, ATP was up 0.9 percent on a month-over-month basis, where vehicles were selling for an average of $48,259 in October 2022.
The report identifies several influences on higher ATP figures in November 2022, including luxury vehicles making up more than 18 percent of total sales plus an increase in the ATP of electric vehicles to over $65,000, an increase of $1,100 on a month-over-month basis. In addition, vehicle incentives are low, coming in at 2.2 percent of the ATP as compared to 4.1 percent the year before.
“The transaction data from November clearly indicates that prices are showing no signs of coming down as we head into the holiday season,” said research manager of economic and industry insights for Cox Automotive, Rebecca Rydzewski. “The mix of available vehicles still favors more expensive models and higher trim levels. In fact, average MSRP has increased more than average ATP year over year, indicating automakers are still building a richer mix of expensive models and fewer value vehicles.”
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The average transaction price of a new vehicle remains well above sticker price, which has been the case since July 2021. In total, sales volumes industry-wide in November 2022 was up more than 11 percent when compared to November 2021, but have fallen since October 2022. Higher prices and rising loan rates are likely the culprits for this drop in sales.
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Comments
I own a 2014 Buick Lacrosse. I love it. Recently paid it off .Never had a major problem with it. Dealership did oil changes and minor repairs. Need engine mounts all of a sudden. Can’t get because parts are on backorder from factory. Had all crumbling bushings replaced, control arms, etc replaced. Water pump, cooling sensor on transmission also replaced. Dealership always did 52 point check when I took in my car. I feel like I’m being taken advantage of. I feel that being a woman they are trying to mess over me.They want me to trade my car in. Guys give me your opinion.
Take it to a repair shop other than a dealer. Hard to believe all bushings and control arms are failing. I did have a Saturn where one engine mount did fail and a new designed one was the replacement, but that was 1994.
Or, if you have a male friend, have him take it to another GM dealership to get another opinion
George, Tean, going to another dealership won’t work, your vin# is in the system they can see the cars history. A 2014 Buick should not have all those problems, you didn’t mention how many miles are on your car. Anyway, taking your car to a dealership for regular oil changes gives the service writer red meat. He makes his money on everything he sells you; his job depends on his sales. If you need an oil change, take your car to a place that has no skin in the game, an example would be Jiffy Lube. But they also try to make money on you except it’s limited to your fluids, they may suggest replacing your radiator or transmission fluid. They may also tell you you have uneven tire ware or brakes are needed, things like that are not repairs that they can perform, they have no skin in the game by suggesting those things.
Tean, good luck
Al
I would take your Buick to a garage that has a good reputation. Ask around I do not know if AAA reviews are so great to rely on. I used to go to an AAA rated garage and they raked me over the coals to replace the thermostat on my 07 ION.The irony was that the thermostat that they replaced had to be replaced 2 years later! If your Buick is OK overall, you have some time to find a reputable mechanic. It is possible that the engine mounts need replacement but then again, I would get a second opinion. You do not owe the dealer anything. You purchased a new car from them & continued to go to them for service. Of course, they want you to trade in your Buick. They need to move vehicles off the lot. They will make some money off of your trade whether they wholesale it or sell it as a used car. It’s your car and if you love it keep it. New cars are very expensive loaded with tech that down the road could cost money to repair or replace your insurance goes up with a new car and it is a pain to sell it privately. I do not know how many miles your Buick has on its odometer but since you are changing the oil regularly it should be good for several more years. The 2 key services i would suggest would check the anti-freeze. After 5 years the anti-freeze can lose its effectiveness so if you need to flush it out make sure you use the type that GM recommends. Also, I would probably change the brake fluid when you have the front brakes replaced if you have not done so already. GM no longer makes full sized cars. The only sedans are either Cadillacs or the Malibu which i think is at the end of its run. The only equivalent to your Buick was the Chevy Impala which can only be bought used. Your Buick dealer may be given you honest service recommendation but replacing engine mounts is not that inexpensive. If a reputable mechanic says yes that you need to replace them, it will probably be cheaper.