Buick Average Transaction Prices Down 5.3 Percent In January 2023
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The average transaction price (ATP) for new Buick vehicles stood at $39,255 in January 2023, according to data reported by Kelley Blue Book and Cox Automotive research. This figure was down 5.3 percent from the $41,432 ATP registered in January 2022.
New Buick vehicle ATPs also dipped slightly lower month-over-month, down about 0.3 percent compared to December 2022‘s $39,387 ATP, the latest Kelley Blue Book report reveals.
Buick ATPs have been slipping for the past several months, as average year-over-year transaction prices fell 1.8 percent in December and one percent in November, though they rose 1.9 percent in October 2022.
Turning to GM’s overall performance, the combined new vehicle ATPs from its four brands (Buick, Cadillac, Chevy, and GMC) show a year-over-year 0.7 percent decline. GM new vehicle ATP was $52,218 a year ago and dropped slightly to $51,842 in January 2023. Month-over-month, GM’s ATP fell 3.5 percent from December 2022’s $53,714.
The automobile industry as a whole recorded a 5.9 percent increase in January 2023 new-vehicle ATPs compared to January 2022, registering an average price of $49,388 per vehicle versus last year’s $46,620 ATP. That ATP figure was down 0.6 percent when measured against the $49,698 average industry price in December 2022.
Buick’s average new vehicle price and the overall market’s ATP went in opposite directions because luxury vehicles accounted for most of the auto industry’s gains. Luxury vehicle ATPs fell somewhat, but the share of luxury vehicle sales volume exploded, reaching 19.6 percent in January 2023. Meanwhile, non-luxury vehicles such as much of Buick’s lineup experienced difficulties from inflation and high interest rates.
The average transaction price of a new vehicle still registers significantly above sticker price, a situation that has persisted for roughly 1.5 years. The gap between ATP and sticker price is on a narrowing trend; ATP was $900 above average MSRP in January 2022, while in January 2023 it was only $310 higher than sticker price.
Incentives currently amount to just 2.8 percent of ATP, down considerably from the 8.6 percent of ATP recorded two years ago. Low new-vehicle inventories account for the low level of incentives. However, in the luxury sector, incentives have risen back to 6.2 percent of ATP.
Sales volumes increased about 6 percent for the month relative to January 2022. More fleet sales of vehicles and the improving new-vehicle supply as constraints gradually ease account for the year-over-year volume increase, per KBB’s analysis. Volume fell slightly month-over-month, a decline likely caused both by high automotive loan interest rates and December’s record ATPs.
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I’m am/was one of the few Millenial Buick fans. Dropping sedans, flipping to “Pure” design instead of expanding on the lines Avista or even Envision, are both disappointing.
There are few entry level luxury brands that are a cut above but lack the ostentatiousness of Cadillac. These days I find Acura and, to a lesser extent Audi, to be my only options. Acura design even reminds me of Buick a few years ago
I’m also a Millennial who has a 2021 Envison Avenir, one of the first ones out, my older lease was up and at the time there were supply shortages with the existing brand I was a customer with (Mazda). It wasn’t just Mazda either, nearly ever dealership I went to had empty lots.
I had a CX5 Turbo and I’d have bought it out if I hadn’t piled the miles on.
I was initially wowed by the Envision and up came a truck with a fully loaded Envision getting taken off on it, in a few hours I was test driving it and a few more hours later it was mine.
It had a very similar feature set to my CX5, and for a couple thousand more I could get a few extras that it didn’t have. I ended up in a situation where I piled up the miles again the last year (maybe leasing isn’t for me, but I’m still above water on a buyout/trade), and the typical GM problems are starting to crop up that I never experienced with Mazda, and the initial quality that drew me in is quickly evaporating. I’m at 40,000 miles and stupid things are happening already, that shouldn’t be happening with a 48K CUV… not this soon anyways.
It’s got a good look, and a good interior, but comparing to other near luxury brands, the nice little extras are getting trounced on by faulty reliability. Maybe I got a dud, I don’t know many people who are already at 40K with their Envisions yet, but mine was wonderful until about 30K, then I stalled out in the middle of an intersection and needed towed for a bad fuel injector (and no, it wasn’t dirty, bad gas). Now I’m starting to have issues with rattles and clunks. I’m not a spirted driver and I just today actually, I had to shell out 1200 for new tires at only 40K. During the entire time I had my CX5, and accumulated 60K miles, I still had about 7/32 left by the time I traded it in, I was at 2/32 this morning before I got new ones. I know OEM tires are softer, but again, for 48,000 bucks, I’d expect the thing to get more than 40,000 out of my tires. Cut corners, cheapy mistakes, questionable long lasting quality, but the pickings were slim when I had to choose.
Also, its AWD is pretty lacking. If I actually do need to take off quickly.. say the lane is ending and I need to get ahead… I’ll get wheel spin. And if it’s raining and I do that, it’ll detect wheel spin and I basically get throttled, almost like I’m in Neutral until the system figures it out. I’ve had AWD all my life, I’ve NEVER had that happen before. Quite dangerous. Once it figures it out, it practically neutral drops into drive again. Not at all “luxurious”, unbecoming of the Avenir line.
This Millennial will be hard pressed to stay within the Buick brand, maybe the Envista will wow me, but not if it gets the same dinky engine the Trax is getting. If I stay with GM, it’ll be a new XT4, but I’d say that’s unlikely.
I’m not sure what Buick wants to be these days, they have some attention from the younger crowd, but I know for sure my experience has left a sour taste in my mouth.