General Motors said earlier today it would increase the price of its Hummer EV, manufactured under the GMC brand, by $6,250. Price hikes are effective starting this Saturday.
GM said the increase in price was due to higher prices for parts, technology demands, and logistics as the global supply chain crisis continues to rage on. Increased fueling costs are driving the shipment of vehicle parts up considerably, contributing to increased vehicle prices across the sector.
Reservation holders who place or have an active order before Saturday will not be affected by the price increase, GM clarified. Earlier this week, Teslarati shared data that many prospective electric truck buyers hold reservations on multiple models, with very few having plans to purchase more than one vehicle. Anyone even considering the GMC Hummer EV should lock in their more affordable price before Saturday when the prices will increase, all varying by trim level.
- EV2 – $86,245
- EV2X – $96,245
- EV3X – $106,245
GM currently has roughly 77,500 reservations for the Hummer EV across both its SUT and SUV models, but it has struggled with ramping production of the pickup since launching deliveries in late 2021. The SUV is not set to launch until early 2023. In Q4, the vehicle was delivered just one time, but GM is making progress with the vehicle by slowly and steadily making more deliveries.
In Q1, GM reported it delivered 99 units of the Hummer EV to customers. “Launching more EVs faster is the catalyst for growth, and we are accelerating our volumes, growing to 1 million units of EV capacity in North America by the end of 2025, and expanding from there. In North America alone, we target production of 400,000 all-electric vehicles over the course of 2022 and 2023,” CEO Mary Barra said in a letter to investors during Q1.
The Hummer EV’s more recent orders are not expected to be fulfilled until 2024, according to CNBC.
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