Photo: Cadillac
The average transaction price (ATP) for new vehicles has taken off during the past year - particularly for truck makers - and the big automakers have benefitted from startling demand and price inflation.
Chevrolet now boasts a higher ATP than premium brands such as Alfa Romeo and Acura. During September 202, Chevrolets sold at an average of $50,451 USD. Ford also enjoyed skyrocketing ATP values and came in just above Chevrolet at $50,853 USD.
For perspective, brands like Honda and Toyota are expected to compete directly with the likes of Chevy and Ford, falling between $33,000 and $39,000 USD.
Brands such as Cadillac, GMC, Dodge, Ram, and Jeep all saw steep rises in ATP as well.
And the jump is rather stunning. A year ago, the average price of a new vehicle was $40,159, and as of today, that number is $45,031. That represents a change of $4,872, and it marks the first time in history the average price of a new vehicle has eclipsed $45,000, at least according to Kelley Blue Book.
Chevrolet’s ATP rose from $40,903 in September of 2020 to $50,451 in September 2021. That spike of nearly $10,000 - or 23.3 percent - is a watershed moment.
Cadillac registered one the largest changes in ATP from last year as well, and the marque’s vehicles rose from $54,202 in 2020 to a massive $81,938 in 2021. That’s a change of 51.2 percent, most of it in demand for the Cadillac Escalade.
GMC product’s ATP grew 13.6 percent, up to $61,557 USD, on the strength of sales of the popular Yukon models.
While Ford saw a slightly smaller rise in prices from $45,677 to $50,853, Lincoln notched up 8 percent to $62,394 USD. Those rises were attributed to solid SUV and truck demand for the F-150 Limited and the Lincoln Navigator.
Stellantis joined the fun as well as Dodge saw ATP grow 18.4 percent, from $38,048 USD to over $45,000 USD. Ram alone saw ATP grow 7.4 percent, coming in at $55,383 USD, and Jeep models rose 11.4 percent, coming in at $44,445 USD for September 2021.
Kelley Blue Book says the rise in vehicle ATP numbers was due to a wide range of vehicles sold is the primary cause for the overall uptick. They say people are buying pricier utility vehicles like the Cadillac Escalade and Ford Bronco than more moderately priced entry-level sedans.
The numbers have also been distorted by an ongoing microchip shortage which meant there simply weren’t as many other vehicles outside the premium models to sell. Lower sales overall also led to a higher concentration of sales in the ATP trucks and SUVs for the Detroit Big Three automakers.
For perspective, brands like Honda and Toyota are expected to compete directly with the likes of Chevy and Ford, falling between $33,000 and $39,000 USD.
Brands such as Cadillac, GMC, Dodge, Ram, and Jeep all saw steep rises in ATP as well.
And the jump is rather stunning. A year ago, the average price of a new vehicle was $40,159, and as of today, that number is $45,031. That represents a change of $4,872, and it marks the first time in history the average price of a new vehicle has eclipsed $45,000, at least according to Kelley Blue Book.
Chevrolet’s ATP rose from $40,903 in September of 2020 to $50,451 in September 2021. That spike of nearly $10,000 - or 23.3 percent - is a watershed moment.
Cadillac registered one the largest changes in ATP from last year as well, and the marque’s vehicles rose from $54,202 in 2020 to a massive $81,938 in 2021. That’s a change of 51.2 percent, most of it in demand for the Cadillac Escalade.
GMC product’s ATP grew 13.6 percent, up to $61,557 USD, on the strength of sales of the popular Yukon models.
While Ford saw a slightly smaller rise in prices from $45,677 to $50,853, Lincoln notched up 8 percent to $62,394 USD. Those rises were attributed to solid SUV and truck demand for the F-150 Limited and the Lincoln Navigator.
Stellantis joined the fun as well as Dodge saw ATP grow 18.4 percent, from $38,048 USD to over $45,000 USD. Ram alone saw ATP grow 7.4 percent, coming in at $55,383 USD, and Jeep models rose 11.4 percent, coming in at $44,445 USD for September 2021.
Kelley Blue Book says the rise in vehicle ATP numbers was due to a wide range of vehicles sold is the primary cause for the overall uptick. They say people are buying pricier utility vehicles like the Cadillac Escalade and Ford Bronco than more moderately priced entry-level sedans.
The numbers have also been distorted by an ongoing microchip shortage which meant there simply weren’t as many other vehicles outside the premium models to sell. Lower sales overall also led to a higher concentration of sales in the ATP trucks and SUVs for the Detroit Big Three automakers.
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