The average transaction price for the GMC Yukon rose by 12.1 percent year-over-year for the second quarter (Q2) of 2023, and increased by 11.5 percent for the GMC Yukon XL. During the same period, the ATP for the GMC brand surged 9 percent and GM’s ATP overall also increased 9 percent.
The GMC Yukon and Yukon XL’s average transaction prices respectively stood at $83,619 and $86,619 during the three months from April 2023 through the end of June 2023 per the recent report by Cox Automotive. Yukon and Yukon XL ATP rose 1.4 percent and 0.6 percent respectively from Q1 2023 figures.
In terms of units sold, GMC Yukon sales volume increased 22 percent year-over-year relative to Q2 2022, with 12,471 individual vehicles purchased by customers. GMC Yukon XL sales soared 43 percent higher than last year’s figures with 9,798 units sold.
Meanwhile, overall GM sales volume posted robust gains, but somewhat trailed the GMC Yukon, rising 19 percent year-over-year from 578,507 vehicles in Q2 2022 to 689,095 units in Q2 2023. This volume is still somewhat below pre-COVID Q2 sales, which often approached or surpassed 750,000 vehicles in recent years.
The GMC Yukon and GMC Yukon XL were among the top three performers in the GMC lineup for the second quarter of 2023. Only the GMC Acadia saw its sales volume increase by a larger amount, soaring 58 percent year-over-year. The Yukon XL came in second with a 44 percent jump, while the regular Yukon was tied for third place with the GMC Sierra, which also posted 22 percent gains.
GMC incentive spending for Q2 2023 was $1,793, a sharp 18 percent drop relative to last year’s second quarter incentives of $2,193, making it the only GM brand with falling incentives. At the opposite end of the scale, Buick posted the biggest gains at 79 percent with incentives skyrocketing from $1,077 in 2022 to $1,923 this year.
Cadillac incentives rose 18 percent and Chevy incentives increased by a modest 9 percent. Overall, GM second quarter incentives averaged across its four brands rose 14 percent from 2022 to 2023, climbing from $1,754 to $2,006.
As a reminder, the 2023 GMC Yukon lineup is motivated by one of three available powerplants. These include two gasoline engines, the naturally aspirated 5.3L V8 L84 gasoline engine developing 355 horsepower and 383 pound-feet of torque, and the naturally aspirated 6.2L V8 L87 gasoline engine with an output of 420 horsepower and 460 pound-feet of torque.
The single diesel powertrain choice is the 3.0L I6 LM2 turbodiesel Duramax, rated at 277 horsepower at 3,750 rpm and 460 pound-feet of torque at 1,500 rpm. All three engine options use the GM 10-speed automatic transmission for cog swaps.