As Americans crowd dealerships in search of vehicles before the advancing juggernaut of 25-percent tariffs sends prices higher, GMC saw modest new vehicle average transaction price (ATP) gains of 2.3 percent year-over-year.
Prices for GMC vehicles declined slightly from January 2025 to March, ticking downward 0.6 percent to $64,946, Cox Automotive and Kelley Blue Book revealed with their research.
A year ago in February 2024 GMC prices were stable, but multiple factors – including exceptionally high tax refunds, early year bonuses and the threat of tariffs – have created a ferment in the U.S. auto market. Sales shot up 30 percent between February and March as U.S. auto buyers hurried to get deals before tariff-induced price hikes.
Prices in the American auto sector overall remained stable as they have for several months despite the surge in sales. Industry ATP hovered at $47,462, up just 0.3 percent since last March and down a marginal 0.2 percent compared to February. This “calm before the storm” saw 1.59 million vehicles fly off dealership lots, a near-record among the past four Marches.
The situation, of course, is unlikely to last. With 45th and 47th U.S. President Donald Trump at the helm, the U.S. has pivoted to a massive tariff regime with foreign auto imports slapped with a 25-percent duty. Major trading partner Canada has reciprocated with a 25-percent tariff on American vehicles.
While affordable vehicles, many of which are imported, are more likely to bear the brunt of tariff-triggered price hikes, higher-end models like GMC nameplates are unlikely to remain unscathed. Cox and KBB forecast at least 5 percent increases for domestically produced vehicles and 10 to 15 percent price rises for imported models.
Erin Keating, an executive analyst at Cox, observes that “all signs point to higher prices this summer.” She underlined this by adding “there is no way around it: tariffs are going to push new-vehicle prices higher in the U.S.”
No Comments yet