In October 2023, new Buick vehicle average transaction prices (ATPs) decreased 6.5 percent to $36,573 as compared to $39,037 in October 2022.
According to a report from Cox Automotive and Kelley Blue Book, on a month-over-month basis, the ATP for a new Buick vehicle also fell 0.6 percent from $48,042 in September 2023.
As for what may have contributed to this drop, the Tri-Shield brand launched the affordable 2024 Envista earlier this year, while Encore GX sales have doubled so far as compared to 2022 figures. As such, it’s possible that these two vehicles contributed to this decline.
The drop in Buick ATP figures is reflected 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 – Chevy, Buick, Cadillac and GMC – the ATP for a new GM vehicle was $53,763 in October 2023. This represents a 2.8 percent increase when compared to October 2022 figures, where GM’s ATP number stood at $52,274 per vehicle. On a month-over-month comparison, General Motors’ average transaction prices rose 2.4 percent from $52,513 in September 2023.
Overall, the automotive industry recorded a 1.4 percent decrease in ATP figures year-over-year from $48,606 in October 2022 to $47,936 in October 2023. In contrast to this, ATP increased 0.3 percent on a month-over-month basis, where vehicles were selling for an average of $47,797 in September 2023.
The report identifies two factors for this change in October 2023 ATP figures, including:
- Non-luxury vehicle prices hold steady in October 2023
- Luxury prices climb; lead by Tesla
- Average price paid for an EV climbs in October 2023, but remains below 2022 levels
“New-vehicle prices in October were mostly unchanged from September,” Cox Automotive Research Manager Rebecca Rydzewski claimed in a prepared statement. “The only big mover last month was Tesla, which continues to shift pricing at a surprising pace. In fact, the price shifts at Tesla in 2023 showcase just how dynamic pricing can be with a direct-to-consumer sales model.”
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Comments
Buick is not an entry luxe brand like Acura. It sells luxury trim packages and Evision and Enclave can compete with luxury but Encore GX and Envista drive sales positioning the brand near Nissan and not Infinitely.
I’ve read Encore GX lacks Buick’s bulletproof quality which further detracts. GM US should just present Buick as a mainstream brand and try to achieve volume. Buick in China isn’t even luxury, as America thinks of it, but premium in the European sense like VW and Volvo.
At this point I think that’s exactly what they’re doing. The Encore GX and Envista are not relatively expensive vehicles, and they’re not much more expensive than their Chevrolet counterparts. Even higher end models like Enclaves are going for the same or lesser rates on dealer lots than many mainstream brands. Offering a product with nicer interior quality than what people associate with GM vehicles at a mid level price is what they’re currently doing.
I wish they pushed slightly more upmarket and focused more on reliability again (older ones are bulletproof), but I’m sure that’s less profitable than what some people in a corporate office decided.
Not bad 6.5 when the enclave is at least 20% over priced who would buy a encore when you can buy the same equinox for less money same junk
If you can’t afford to change the oil regularly, buy Japanese and leave our Buicks to us to enjoy. #Avenir