The average transaction price of a new Buick product stood at $37,172 per vehicle back in July 2023. With that in mind, the Tri-Shield brand’s ATP figures made a notable decline on a year-over-year basis.
According to a report from Cox Automotive and Kelley Blue Book, the average transaction price for a new Buick product decreased 10.8 percent from July 2023 to $33,153 in July 2024. Meanwhile, the Tri-Shield brand’s ATPs climbed 1.7 percent from $32,586 in June 2024 levels.
This drop in Buick ATP figures is contrasted by a fairly steady year-over-year change 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 $52,009 in July 2024. This represents a 0.3-percent increase as compared to the July 2023 figures, where GM’s ATP stood at $51,847 per vehicle. On a month-over-month comparison, General Motors’ average transaction prices posted a 1.4-percent jump from $51,299 in June 2024.
Overall, the automotive industry recorded a 0.2-percent decline in ATPs year-over-year from $48,507 in July 2023 to $48,401 in July 2024. Meanwhile, ATPs posted a zero-percent month-over-month change, as vehicles were selling for an average of $48,424 in June 2024.
“The thing about the U.S. is its diversity, and that goes for the U.S. auto market as well,” Cox Automotive Executive Analyst Erin Keating noted in a prepared statement. “There are many expensive, high-profile vehicles out there, but consumers have many good options priced well below the industry average. We hear this from the large dealers all the time: no matter the budget, chances are we can make something work. This is particularly true where inventory is higher, and incentives are following.”
“Not every brand is seeing sky-high days’ supply, but, in most cases, where there is excess, incentives are climbing,” Keating continued. “The higher incentives are helping consumers, but stubbornly high interest rates and tighter credit conditions continue to make affordability challenging. If we are going to see the market live up to its potential, we will need to see rates lower and credit loosen.”
It’s worth noting that the report identified two factors that contributed to these changes in July 2024 ATP figures, including:
- Growing incentives
- Higher EV incentives as prices hold steady
Be sure to subscribe to GM Authority for Buick news, GM sales news, GM business news, and more obsessive-compulsive GM news coverage.
Comments
Three cheers for Buick. Really.
But it’s probably only because of the Envista arriving on lots.
Only 4 models available and the Envista and Encore are in a lower priced segment. Nothing left but the 100% Chinese built Envision and the somewhat long in the tooth Enclave. With lower case gm in trouble in China will Buick even survive in the US? Kill it like you did the other so called models like Impala, Camaro, Cruise and the list goes on and on. So many models left to die on the vine in the rush to force EV on a population that the majority doesn’t want.
Nothing screams near luxury like 3 and 4 cylinder Chinese and Korean turds. The only saving grace Enclave will never see the sales it once had now that it’s a 4 cylinder. Do David Dunbar Buick a favor and change the name to Geo. gm has destroyed this man’s legacy. Why keep piling it on?
I have no complaints about my 3-cylinder Korean GM product. Really. 33.7 mpg with the 1.3 and a cvt with very good low-timid-range torque. Admittedly, I don’t try to pass a semi going uphill on I-25.
And at least Buick has something to sell…
Do you remember when losing market share did not matter to gm because ATPs were climbing? What word salad will be served to state that this is all part of the EV transition plan?