Back in May 2023, Buick average transaction prices stood at $37,737 per vehicle. With that in mind, the Tri-Shield brand’s ATP has made a sharp decline on a year-over-year basis.
According to a report from Cox Automotive and Kelley Blue Book, the ATP for a Buick vehicle plummeted 11.8 percent from May 2023 to $33,297 in May 2024. Meanwhile, the average transaction price declined 5.2 percent month-over-month from $35,140 per vehicle in April 2024.
This decline in Buick ATPs is reflected by a year-over-year drop 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 $51,239 in May 2024. This represents a 2.0-percent decrease as compared to the May 2023 figures, where GM’s ATP stood at $52,268 per vehicle. On a month-over-month comparison, General Motors’ average transaction prices dropped 0.6 percent from $51,806 in April 2024, sharply outperforming the Tri-Shield brand.
Overall, the automotive industry recorded a 0.9-percent decline in ATPs year-over-year from $48,830 in May 2023 to $48,389 in May 2024. Meanwhile, ATPs stayed flat month-over-month, where vehicles were selling for an average of $48,368 in April 2024.
“In May, we saw some positive news on the sales front,” Cox Automotive Executive Analyst Erin Keating remarked. “A lot of those sales gains were juiced by higher incentives and lower prices, which is good news for consumers worrying about inflation. While there are a lot of vehicles transacting at very high prices, that doesn’t mean all new vehicles are unaffordable. There are still plenty of excellent, well-priced vehicles out there, particularly in the compact segments.”
“It’s called an average for a reason,” Keating added. “The U.S. market is very diverse, with plenty of popular, high-priced vehicles that sell very well and drive the average higher. The popularity of fully loaded, full-size pickup trucks that are more luxurious than many luxury vehicles is unique to the U.S. market. The Ford F-Series outsold BMW 2-to-1 in May, and BMW’s ATP was only marginally higher than the F-Series.”
It’s worth noting that the report identified three factors that contributed to these changes in May 2024 ATP figures, including:
- The diverse U.S. market is complicating the price picture
- Higher inventory and lower prices go hand-in-hand
- EV prices climb as Tesla prices increased
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Comments
All due to the intro and availability of the Envista. Duh.
It’s quite a bit deeper than that, extreme lack of identity, quality, inefficiency, under powered, overpriced, and choices among packages!
How about this: Why don’t you go overpay for an highly optioned up Buick to correct what you deem to be an egregiously wrong statistic? Meanwhile, I’ll take a value priced Envista, best packaged Buick in a long time.
Exactly. Buick had a decision as to where in the lineup they positioned the Envista. They could just as easily positioned it between the Encore GX and the Envision by giving it a more powerful engine and more luxury features like the China version. It is longer and has more legroom than the Encore GX. Even the Envista Avenir is missing luxury features like dual zone climate control, rear seat vents, and a power passenger seat.
Buick really no longer exists as an American car brand. It’s a pathetic excuse compared to its earlier Flint Michigan based history. Bring back American made luxury cars. The stuff of today is nothing but overpriced Korean/Chinese crap.
With the envista it makes sense .
Buick’s lower ATP is likely because transaction prices are closer to MSRP than during and immediately after the pandemic. Inventory levels have returned to something approximating normal, and that means no more opportunities for dealers to artificially inflate prices.
As others have suggested, the lower-priced Envista likely played a part. If Buick is an outlier and the other OEMs aren’t seeing the same sort of decrease, then, the Envista could well be the sole cause of the decrease.