The average transaction prices (ATPs) for new GMC vehicles increased in June 2023, rising 8.9 percent to $63,561 per vehicle in comparison to $58,360 in June 2022.
On a month-over-month basis, the ATP for a new GMC vehicle rose 2.3 percent from $62,165 in May 2023, according to a report from Kelley Blue Book.
This notable rise in GMC 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 2022 numbers, where GM’s ATP number stood at $50,327 per vehicle. On a month-over-month comparison, General Motors’ average transaction prices rose 0.4 percent from $52,351.
Overall, the auto industry recorded a 1.6 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.”
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Comments
It needs to go DOWN by 25%. Bring on that elusive recession!
I think they should be coming out with newer trucks and cars soon 2024 or 2025
Is ATP up or down? The above article appears to contradict itself. If you don’t like one statistic then create another? Regardless ATP up, good for gm, bad for customer.
Explain to me how an average couple with 2 kids can afford a decent new car these days.
There are a lots of autos that sell for $20,000 to $23,000 new. These are the PREMIUM GRADE autos. Stop complaining about the prices of GMC trucks. You buy what fit your financial status.
I have both a new Escalade and a 2500HD Diesel. Sorry they are not GMC’s. I’m speaking about prices in general. You been looking at cars lately? $25000 gets you a little cracker box
Please provide your GPS coordinates. I’m coming to buy one of the available “premium grade” $20,000 autos you have in your locale.
Please! Reread my comment, you did not comprehend what my comment stated. — There are a lots of autos that you can buy in the low $20, 000 range, BUT these are not the low budget autos– It is best to buy an auto that fits your financial budget. Look at theEuropean manufacturers, there autos go from $20,000 to $400,000– GM has autos that range from $20,000 to $120,000– You buy where your finances make you comfortable
Ordered a 2023 Canyon watched watched MSRP go from 51,000 to 54,000 still waiting for delivery, Why are we being penalized being dedicated GMC consumers ?
My new 2024 3500 denali ultimate came with a $102,600 price tag and no owners manual.
All efforts to get an owners manual through the dealer, alderman gmc in rutland, vermont or gmc directly were fruitless.
I finally got one on line from helm.com at a cost of $95 from my pocket.
Gm just sealed their fate on any further purchases from us.
If you can’t provide an owners manual for this truck, you can expect me, a lifelong gm guy to kick you to the curb.
Hello FORD, do you provide owners manuals with your $100 k trucks, or are you all the same?
Asking for ME.