Chevrolet’s January 2022 Average Transaction Price Is Up 17 Percent

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Chevrolet's January 2022 Average Transaction Price Is Up 17 Percent

Photo Credit: CorvetteFurman.com


It’s not just your imagination that new vehicle prices are higher than they were this time last year.

The facts back it up for General Motors vehicles, in particular.

In a newly released report, Kelley Blue Book says the Average Transaction Price (ATP) for new Chevrolet vehicles in January 2022 was up by 17 percent over the same month in 2021. The ATP in January 2022 was $47,882 – more than $7,000 higher than the ATP of $40,787 in January 2021. Interestingly, however, that January 2022 ATP was 2.9 percent lower than the $49,337 a month earlier.

Across the board, all four of GM’s brands – Chevrolet, Buick, GMC, and Cadillac – had 20 percent higher ATPs in January 2022, compared to January 2021. As a whole, the ATP for GM was $52,206 in January 2022 against $44,668 a year earlier.

Good news for consumers, though, as the ATP for all GM brands combined was up just 0.3 percent between December 2021 and January 2022.

The same trend appeared to be true for the entire American auto industry. While ATPs in the U.S. climbed 12.5 percent from January 2021 ($41,248) to January 2022 ($46,404), ATPs from December 2021 ($47,243) to January 2022 were down 1.8 percent.

“The surge in new-car prices appears to have peaked,” executive analyst for Cox Automotive Michelle Krebs says. “Yet, while we expect vehicle supply to improve, it will continue to be tight particularly through the first half of the year. Because of this, we expect prices to remain high for the foreseeable future, but car shoppers can rest assured we don’t anticipate any more record highs.”


Source:
Kelley Blue Book via gmauthority.com

Related:
Chevy’s Average Transaction Price Surpasses $51,000 in October 2021
The Average Transaction Price for the C8 Corvette Was $82,489 in Q2 2021
Chevrolet Surpassed $50,000 in Average Transactions in September 2021

 



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