Chevy new vehicles followed the pattern set by the market as a whole, with average transaction price (ATP) rising year-over-year for January 2025, but falling month-over-month from December 2024 highs.
Chevy ATP increased 2.8 percent compared to January 2024, but fell 2.5 percent from average transactions in December 2024, according to Kelley Blue Book and Cox Automotive.
The average new Chevy vehicle cost $47,875 in January 2025, compared to $49,123 a month earlier in December 2024 and $46,558 in January 2024. The price of the Bow Tie’s vehicles was stable year-over-year the previous month, falling 0.1 percent and also basically unchanged from November with only a 0.5 percent rise at a time when overall sales were booming.
Meanwhile, Chevy parent company GM saw prices rise from $51,267 in January 2024 to $52,980, which is a 3.3-percent increase. The ATP for The General declined 3.5 percent from the December 2024 high of $54,923. However, it was unlikely to maintain the price highs of the final month of 2024, when post-election optimism, higher incentives, and normal year-end sales of luxury vehicles combined to send prices upward to an annual high.
The ATP for the whole U.S. car market increased modestly, rising by 1.3 percent in January 2025 relative to the previous year and reaching an average of $48,641 for a new vehicle. This price represented a 2.2-percent dip from the December new vehicle price. Incentives retreated a bit to 7.2 percent of the ATP rather than 8 percent of average transaction price as in the previous month.
Sales volume was down a massive 25 percent compared to December 2024, though it rose 5.1 percent above the number of new vehicles sold in January of last year. The inventory of new vehicles on dealership lots remained below 3 million units as it had late in December, after being above the 3-million threshold since October 2024 onward.
“The market took a seasonal breather” in January 2025 according to Cox executive analyst Erin Keating. She added that “both new-vehicle sale volume and prices were lower in January” following what proved to be “a surprisingly hot December.”
Comments
Until the pandemic, ATPs used to peak in the first quarter due to the annual sales slowdown (due to weather) and decreased incentives. But automakers have gotten so greedy that they have squashed incentives in November/December, which had been known as the best time to buy. The whole vehicle sales market is a mess. And the threat of tariffs has things even more screwed up.
Then don’t buy! Very simple solution.