In August 2023, the average transaction price (ATP) of a new Buick vehicle fell 6.4 percent to $36,218 per vehicle as compared to $38,692 during August 2022.
On a month-over-month basis, the ATP for a new Buick vehicle also decreased 2.7 percent from $37,202 in July 2023, according to a report from Cox Automotive and Kelley Blue Book.
This fall in Buick ATP figures is contrasted by a year-over-year jump 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 $52,295 in August 2023. This represents a 0.6 percent increase when compared to August 2022 figures, where GM’s ATP number stood at $51,976 per vehicle. On a month-over-month comparison, General Motors’ average transaction prices rose 1.4 percent from $51,585.
Overall, the automotive industry recorded a 0.1 percent increase in ATP figures year-over-year from $48,409 in August 2022 to $48,451 in August 2023. Reflecting this, ATP also increased 0.6 percent on a month-over-month basis, where vehicles were selling for an average of $48,165 in July 2023.
The report identifies two factors for this change in August 2023 ATP figures, including:
- Non-luxury vehicle prices increase less than one percent year-over-year
- Average luxury prices down year-over-year; largest drop in a decade
- EV prices continue to decline
“After a tumultuous last few years in the automotive marketplace, now we are seeing new-vehicle pricing trends hold steady,” Cox Automotive Research Manager Rebecca Rydzewski claimed in a prepared statement. “Dealers and automakers are feeling price pressure, and with high auto loan rates and growing inventory levels, new-vehicle prices seem to have hit a ceiling, at least for now. The very real potential for a UAW strike may impact some product lines, but with the current inventory levels in place, we don’t expect a short-lived strike to impact consumer prices in any meaningful way, at least in the near term.”
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Comments
Buick sells cheaper on average than Honda, Mazda, Subaru. Roughly 50% of sales are Encore GX. Envista, if a hit, will make this worse for GM.
Maybe it’s time for Buick US to abandon luxe ambitions and play Kia to Chevrolet’s Hyandai as a volumepo player? Buick prices are reasonable, even Envision, but if sold at Chevy prices could achieve volume.
Or it could be the new look fish face isn’t as popular in America as it is in China.
Or……or, it could also be the lack of any sedans. I’m fine with them having 3 crossovers/SUV’s and the Envista hatch, but they must have a couple sedans and at least one 2 dr in the mix. If they did that, it would give Buick 7 models which would be perfect.
Not sure where you are getting your statistics. Mazda ATP is around $35K. The others are pretty tight, just above Buick. I think the product line that is kind of stale all at the same time doesn’t help – especially the ancient Enclave that is their high-end vehicle. No ridiculously priced pickup trucks and full-size and monster SUVs to buoy up their ATP like Chevy and GMC. (Which – from a dealer perspective – since Buick is tandemed with GMC, I’m sure the dealers are not unhappy.) Buick is not “luxury”. If anything they are “near luxury”. And since they kick Cadillac’s ass in almost every category (quality, customer satisfaction, etc.) what is the harm of having a brand around that has vehicles that are affordable (unlike Cadillac) and at least up to now, classy styled with a nice interior (quality, design, fit and finish) unlike Chevrolet? The only reason Chevy might be improving is getting more vehicles from South Korea.
Maybe Ive been living under a rock, but I did not even know they still made Buicks.
They seem to have had some serious trouble finding a market for Buick in North America.
In a way, it shouldn’t have been that difficult. For almost two decades they let the Chrysler 300 and Dodge Challenger/Charger have an entire market where they should have had a competitive Regal available. Instead they’ve now gone all in on SUVs in a market that seems to want nothing else, but still failed to really find an audience.
At this point, they could probably just end the brand and your average consumer would never notice.
Considering the Chrysler 300 has had declining sales since 2012 I wouldn’t consider it holding much weight in its segment. And we all know modern Buick philosophy doesn’t include a sporty competitive sedan with the horse power to back it up. That falls to Cadillac and Chevy (in some part)
Yeah, but while the 300 was popular Buick had nothing like that, and really it’s the same vehicle as the Charger/Challenger.
My point was simply that the sort of vehicle Buick used to be good at was still selling, and they had nothing.