GMC Sierra Average Transaction Price Up 8 Percent In Q1 2023
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The GMC Sierra saw its average transaction price (ATP) figure rise more than eight percent over the course of Q1 2023, while overall GMC ATP figures increased more than nine percent.
According a Cox Automotive report, the average transaction price for a GMC Sierra in the three months from January 2023 until the end of March 2023 stood at $70,007, an 8.2 percent increase year-over-year. Although the Sierra’s ATP is among the highest of all full-size pickups, this figure is actually down when compared to Q4 2022 figures, where the ATP of Big Red’s pickup stood at $72,006. Meanwhile, sales of the Sierra rose almost 19 percent to 67,198 units in Q1 2023.
Sierra sales trended with GMC sales, which increased more than seven percent from 121,437 units in Q1 2022 to 130,608 units in Q1 2023.
Sales Results - Q1 2023 - USA - GMC
| MODEL | Q1 2023 / Q1 2022 | Q1 2023 | Q1 2022 |
|---|---|---|---|
| ACADIA | +70.79% | 15,945 | 9,336 |
| CANYON | -18.57% | 5,016 | 6,160 |
| HUMMER EV PICKUP | -97.97% | 2 | 99 |
| SAVANA | +60.67% | 4,796 | 2,985 |
| SIERRA | +18.69% | 67,198 | 56,617 |
| TERRAIN | -28.13% | 17,928 | 24,944 |
| YUKON | -13.63% | 10,471 | 12,123 |
| YUKON XL | +0.86% | 9,252 | 9,173 |
| GMC TOTAL | +7.55% | 130,608 | 121,437 |
Three GMC models posted impressive jumps in sales, with the GMC Acadia boasting a 71 percent increase to 15,945 units. Next up was the GMC Yukon, which posted a 63 percent jump to 19,723 units sold in Q1 2023. Rounding out the top three finishers was the GMC Savana, which posted a 61 percent increase in sales to 4,796 units. Notably, the Sierra actually had the smallest jump in sales, with a 19 percent increase to 67,198 units.
Overall, total GM Q1 2023 sales in the United States – which include Chevy, Buick, GMC and Cadillac – increased more than 17 percent to 599,187 units. That’s a noticeable improvement over GM Q1 2022 sales of 509,108 units.
In contrast, GMC incentive spending fell more than 17 percent from the same time period last year. It was a similar scenario over at Cadillac, with incentive spending averaging $2,800 per vehicle, and down more than 27 percent from Q1 2022 figures. Meanwhile, Chevy and Buick incentive spending both moderately rose to $1,846 and $2,096 per vehicle, respectively.
The average incentive spending across all four of GM brands in the first quarter of this year stood at $1,908 per vehicle.
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GMC needs a higher end trim so they can keep raising transaction prices. I recommend the Denali Ultimate Platinum Limited High Country Edition.
LOL. Remember when “Denali” meant something? “Denali” used to mean all-inclusive luxury. Today, “Denali” means work truck that provides the privilege of a being able to purchase option packages to make the truck luxurious.