GMC Terrain Average Transaction Price Down 2 Percent In Q4 2023

As of Q1 2023, the average transaction price (ATP) of the GMC Terrain stood at $36,700, which at the time represented a notable 6.8-percent increase year-over-year. Now, the ATP of the Big Red compact crossover has changed little in comparison to Q4 2023.

According to a report from Cox Automotive, the average transaction price of the GMC Terrain declined 2.2 percent to $36,136. Meanwhile, sales of the compact crossover plunged nearly 18 percent to 17,229 units throughout Q4 2023.

It’s worth noting that GMC sales overall also fell 6.5 percent to 134,296 units in Q4 2023. Overall, General Motors sales stood at an essentially flat 0.2-percent gain to 619,684 units.

As for what may explain these reasonably stable average transaction prices during the 2023 calendar year, the Terrain lineup hasn’t seen many notable updates over the past few years. Mild fluctuations in ATP are to be expected. That being said, this norm could change with the introduction of the next-generation 2025 GMC Terrain, which is set to arrive later this year based on the all-new 2025 Chevy Equinox.

As a reminder, the current 2024 GMC Terrain is powered solely by the turbocharged 1.5L I4 LSD gasoline engine, rated at 175 horsepower and 203 pound-feet of torque. Notably, this powerplant was introduced for the 2023 model year and succeeded the turbocharged 1.5L I4 LYX gasoline engine, which was rated at a near-identical 170 horsepower and 203 pound-feet of torque, after the 2022 model year.

The GM nine-speed automatic transmission directs this output to either a FWD or AWD drivetrain configuration. That’s par for the course in this segment, but some rival compact crossovers like the Subaru Forester and Mazda CX-50 offer standard AWD.

Regarding structure, the Terrain rides on the GM D2 platform, which it shares with the Chevy Equinox. Meanwhile, production of the 2024 model year kicked off in May 2023 at the GM San Luis Potosí plant in Mexico. Looking forward, production of the 2024 Terrain is currently scheduled to conclude in October 2024 to make room for the third-gen 2025 Terrain.

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