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Buick Average Transaction Price Down 3.2 Percent In July 2023

During July 2023, the average transaction price (ATP) of a new Buick vehicle decreased, falling 3.2 percent to $37,007 per vehicle in comparison to $38,242 in July 2022.

On a month-over-month basis, the ATP for a new Buick vehicle also fell 1.7 percent from $37,661 in June 2023, according to a report from Kelley Blue Book.

Front-three-quarter of 2024 Buick Envista Avenir.

2024 Buick Envista Avenir

This drop in Buick ATP figures is reflected by a similar year-over-year decline in transaction prices for parent company General Motors. When including all four of GM’s U.S.-market brands in the calculations – which includes Chevy, Buick, Cadillac and GMC – the ATP for a new GM vehicle was $51,565 in July 2023. This represents a one percent increase when compared to July 2022 numbers, where GM’s ATP number stood at $51,057 per vehicle. On a month-over-month comparison, General Motors’ average transaction prices decreased 1.7 percent from $52,462.

Overall, the auto industry recorded a 0.4 percent increase in ATP figures year-over-year from $48,135 in July 2022 to $48,334 in July 2023. In contrast, ATP dropped 0.7 percent on a month-over-month basis, where vehicles were selling for an average of $48,671 in June 2023.

2024 Buick Encore GX Avenir.

2024 Buick Encore GX Avenir

The report identifies two factors for this change in July 2023 ATP figures, including:

  • Electric vehicle prices continue to decline
  • Incentives reach one-year high

“New-vehicle price inflation has all but disappeared in 2023,” Cox Automotive Research Manager Rebecca Rydzewski said in a prepared statement. “New-vehicle prices, primarily driven by cuts in luxury and electric vehicles, are decreasing as inventory is steadily improving. With higher inventories and higher incentives helping to keep downward pressure on prices, there certainly are good reasons for shoppers to be heading back into the market. The year-over-year decline of EV ATPs has been led by Tesla slashing prices on its popular models. Tesla prices are down nearly 20 percent versus a year ago, and other EV models, such as the Ford F-150 Lightning, have been following Tesla’s lead. While automakers report losing money on electric vehicles, they continue to aggressively pursue EV growth strategies.”

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Comments

  1. There are more (3) Buick/GMC dealers in my area than any other brand and most Buicks are driven by upper-crust senior widows. What’s interesting is that those dealers discount more than any others. I’d be interested, but the stickers are outrageous, so the discounts do little.

    Reply
  2. Could it be the new Buick grill
    > <
    *===*

    Reply
  3. GM would probably earn more flipping Buick into a volume brand selling like Hyaindai/Kia. Encore, Encore GX and Envista are already priced to compete with Honda, not Acura.
    This would allow GM to stop dumbing down Chevy by letting the Bpwtie have more road noise buffering and finer suspension to Chevy as opposed to differentiating between the brands.

    Reply
  4. Envision does well but could be far more popular if 1) marketed 2) not made in China. It’s a great vehicle wasted at tiny Buick. If sold as Chevrolet then Envision could challenge Asian and German vehicles

    Reply
  5. I have a Buick regal and made 6 payments and only drove It 3 weeks the alarm went off and now it won’t start that’s what wrong with Buick i will never buy a Buick everyone asking about my car and they tell me to just burn it

    Reply

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