While the average transaction price for a new vehicle sold by GM’s quartet of core brands grew in September 2023, Buick‘s ATP fell 7.8 percent year-over-year from $39,531 in September 2022 to $36,454 last month, according to recent data.
In addition, Buick ATP rose 0.7 percent in September compared to August 2023 figures, research by Cox Automotive and Kelley Blue Book revealed.
High inventory may be contributing to declining Tri-Shield prices, since the brand’s overall number of vehicles on dealer lots ran at 82 days supply in September, well above the 60 days supply considered optimal by the auto industry. Meanwhile, the overall ATP for parent company GM rose from $52,226 a year ago to $52,736, a 1 percent gain. The General’s ATP also rose 1.2 percent month-over-month.
Average transactions price fell during September 2023 in the U.S. auto market as a whole as higher supply and the highest incentives in two years took a bite out of prices. The industry ATP of $47,899 was only 0.7 percent lower than during September 2022, but is down 3.4 percent from the January 2023 peak.
Zooming in on the details of ATP in the general auto market, the decline in average new-vehicle prices is mostly driven by luxury and EV brands. ATPs in the non-luxury sector where Buick operates rose approximately 1 percent year-over-year, but declined in September 2023 compared to the month before.
Luxury vehicle prices plunged by 6.2 percent since a year ago, registering the biggest price drop in a decade according to the report. EV prices fell even faster, decreasing 22.4 percent. The latter decline is mostly because of Tesla’s decision to cut its prices. While competitors have squeezed Tesla market share down to 50 percent, it is still big enough for its pricing adjustment strategies to affect the whole electric vehicle segment.
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Comments
Go get ‘em Geo!
I sure miss the old (real) Buick.
Look its the Chinese Buick.
Well good for you, at least you know your getting a well built quality vehicle!
I remember our red & white 1976 Buick Estate Wagon with the 455 V8 very well! That was a Buick!
GM should have discontinued Buick rather than Pontiac and Oldsmobile. The Buick was kept because of the Chinese market. But it is too close in price to Cadillac! Pontiac and Oldsmobile were more competitive.. The Pontiac was their wide track performance car. And the Oldsmobile was the popular family car. (“Your father’s Olds”) The Pontiac and Oldsmobile were more popular than Buick! Bad decisions!!!
Richard: Although I’m not disagreeing with you, I also can’t agree. Just like Buick is too close to Cadillac, the same would be true about Pontiac/Olds being too close to Chevrolet. GM really had just too many overlapping brands back in the 80/90’s and they had to do something to be competitive. I do miss both those brands, but I truly feel that GM’s 4 brand strategy now is a good one.
However, in reality it doesn’t matter which brand they would have kept because both Pontiac and Olds would be having the same problems that Buick is. After all, if they kept Olds and made it an SUV only brand with only 4 models, they wouldn’t be able to make it either. GM best get Buick some product and FAST while giving them at least one sedan and one 2 dr. Otherwise Buick is toast.
KILLING THE GOOSE THAT LAID GOLDEN EGGS
Putting underpowered, very small displacement 3-cylinder motor’s in the Encore GX and the new FWD-only Chinese Buick is what’s killing Buick sales .. that and greedy dealers and inflated MSRPs. Buick had a winner in the original Encore which was engineered in Germany and South Korea, and Buick’s top seller. I owned a 2019 Encore with the uprated M-code motor and it couldn’t be beaten in its’ class snd delivered outstanding fuel economy.
We’ve got a winner that folks in the USA and Europe love, says one GM staffer. KILL IT says GM Chief Mary Barra. Go figure.
J Ottie, The New Envista Is Made In Mexico (engine) & South Korea! The Little 3 cyiinder Has The Same Feel Of Power Has The 4 cylinder 2020 Kona Limited i Traded In For The Envista.
Take The New Envista Out For a Ride and Find Out That I’m Correct!