During June 2023, the average transaction price (ATP) for a new Buick vehicle rose 1.2 percent to $37,630 per vehicle in comparison to $37,175 in June 2022.
On a month-over-month basis, the ATP for a new Tri-Shield vehicle rose 0.3 percent from $37,501 in May 2023, according to a report from Kelley Blue Book.
This slight increase in Buick ATP figures is reflected by an increase in year-over-year transaction prices for parent company General Motors. When including all four of GM’s U.S.-market brands in the calculations – which includes the likes of Chevy, Buick, Cadillac and GMC – the ATP for a new GM vehicle was $52,568 in June 2023. This represents a 4.5 percent increase when compared to June 2023 numbers, where GM ATP number stood at $50,327 per vehicle. On a month-over-month comparison, General Motors’ average transaction prices rose 0.4 percent to $52,351.
Overall, the auto industry recorded a 1.6 percent increase in ATP figures year-over-year from $48,035 in June 2022 to $48,808 in June 2023. Furthermore, ATP was up only 0.3 percent on a month-over-month basis, where vehicles were selling for an average of $48,658 in May 2023.
The report identifies several factors for this change in June 2023 ATP figures, including:
- Flat ATPs for non-luxury vehicles
- Average ATP for luxury vehicles down two percent year-over-year
- New EV prices down 20 percent year-over-year
- Incentives reach one-year high
“The fact that average transaction prices are up a meager 1.6 percent year-over-year in June is notable,” Cox Automotive Executive Analyst Michelle Krebs stated in a prepared statement. “A year ago, the industry was looking at transaction prices that were consistently up 10 percent to 12 percent year over year. With no inventory in place, it was inflation gone wild. Now, as inventory has been consistently building and supply and demand are finding a balance, the price gains seem to be well under control. In fact, average transaction prices are down from the start of the year. That’s good news for shoppers.”
Subscribe to GM Authority for more Buick news, GM business news, and around-the-clock GM news coverage.
No Comments yet