New Buick vehicles became a better deal for buyers in November 2024, with average transaction price or ATP tracking lower by 4.4 percent year-over-year from $36,616 to $34,994, according to a Kelley Blue Book and Cox Automotive report on last month’s new-vehicle prices.
The Tri-Shield brand’s vehicles also sold by about 0.9 percent less than the $35,316 they typically fetched in the previous month, October 2024, Cox reports.
While the November 2024 Buick new vehicle ATP was down close to 5 percent from the November 2023 figure, those prices were themselves lower than ATP from 2022. The typical 2023 price was down 6.4 percent from the previous year, when the brand’s vehicles usually sold for $39,726, meaning Tri-Shield prices are currently down 11.9 percent – almost 12 percent – from where they were two years ago.
Buick prices also edged lower in October, dropping about 1.9 percent from the previous year. The falling prices may be explained in part by high days supply and increasing inventory levels, though other factors are also playing a role.
The backdrop for these changes to Buick ATP is a U.S. auto market in which prices, supply, sales and incentives are all increasing at the year’s end. Erin Keating, an executive analyst at Cox, remarked that “higher prices were met with higher discounts in November, which has kept the retail business moving.”
ATP for the American auto market increased 1.5 percent year-over-year for November, reaching $48,724 and making Buick’s dropping prices somewhat unusual. Average new-vehicle prices also grew about 1.5 percent month-over-month compared to October 2024.
Incentives continued to climb, edging up from 7.8 percent the previous month to 8 percent. This contrasts to the 5.3-percent incentives typically offered in November 2023. Incentives on crossovers were 10.2 percent on average, luxury cars offered a typical 11.6-percent incentive, and for electric vehicles (EVs) the average incentive was a whopping 14.9 percent.
Looking at the data overall, analyst Erin Keating concluded “if sales volumes in November are any indication, we think 2024 will end on a positive note for the auto business.”
Comments
Those incentives are all conquest, ridiculously, but they must be working. IF loyalty had been in place too, which it should have been, it would have captured us. Same for December.
More lower priced Envistas sell rather than Enclaves. Simple math.
They were high as a 🦒 a$$ anyway!