While average transaction price (ATP) for new vehicles across the U.S. market as a whole rose in December 2024, following typical yearly patterns, the ATP for Buick vehicles dropped sharply compared to the previous year, falling 7 percent year-over-year to $35,596.
Research by Cox Automotive and Kelley Blue Book, published in their December 2024 ATP report, also reveals that Buick prices rose somewhat month-over-month, increasing 1.8 percent compared to November 2024.
The trend in declining Buick prices is ongoing. The Tri-Shield brand’s average transaction price was down 4.4 percent in November 2024 relative to a year previously. Meanwhile, 2023 prices were themselves down from Buick ATP at year’s end in 2022, with December 2023 ATP 1.7 percent lower than in 2022 and November 2023 prices down 6.4 percent.
Buick has had high inventory levels in recent months, and the brand offered lease programs and cash discounts to shift out a backlog of older units. All of the brands of GM competitor Stellantis slashed prices in December 2024 for that express purpose, reducing inventory by making the vehicles a better deal for buyers.
Considered overall, General Motors ATP was up 2.8 percent year-over-year and 3.1 percent month-over-month, with $54,921 as the average figure. Much of this increase was driven by booming Cadillac prices, with the luxury brand apparently benefiting from the usual year-end surge in demand for premium vehicles.
The U.S. auto market as a whole registered 1.3 percent ATP growth relative to December 2023 and 1.5 percent from the previous month. Electric vehicles also saw their ATP rise, though not as much as the overall market, with a 0.8 percent increase relative to a year ago and average of $55,544.
Erin Keating, an executive analyst at Cox, said that “consumer sentiment and confidence have been on the rise,” with the positive mood reflected in luxury vehicle sales because such models “are typically an emotional purchase, and when consumers are optimistic, they go shopping.”
She summarized the overall auto market situation by remarking “it was a December to remember, in terms of both sales volumes and prices.”
Comments
Prices are tanking everywhere on vehicles these days. I can’t wait to see January sales figures. Hope they’re horrific.
Yea it’s always fun to watch companies fail and people become unemployed. Speaking of which, what do you do (or did you do) to earn money? You come off as a bitter boomer that has way too much time on your hands.
Saw one of these in the Walmart parking lot the other day. Must say, it looks way better in person than in pictures. Still wish it offered a 3.6L.
Summed up in one word: Envista.
Why don’t they mention that Envista sales are a bigger percentage of overall share, thus bringing down the ATP. Duh!
No EV’s.
No sedans.
Controversial styling.
Buick won’t be around much longer.
The Invista is one of the best looking vehicles available.
Could be the hideous front end. What happened to the waterfall grills?
Looks an awful lot like the hideous front end on the Toyota Crown.
That Fu Manchu looking face isn’t helping sales.