Thursday, April 25, 2024
NewsGMC now Has over 90,000 Reservations for the Hummer EV

GMC now Has over 90,000 Reservations for the Hummer EV

over 90,000 people have put a deposit on the GMC Hummer EV.

  • This number is for both the pickup and the SUV versions

  • Over 90% of reservation holders end up buying the vehicle

  • Production constraints mean that only 50 Hummer EVs were made in August

General Motors announced it has now received over 90,000 reservations for the GMC Hummer EV pickup and SUV.

These two large vehicles have generated more interest than most other electric vehicles over the past year and it appears that this interest is translating into sales.

Indeed, the large, heavy and powerful truck, as well as its SUV counterpart have now prompted more than 90,000 people to place a deposit in order to get a place in line.

The wait will probably be very long, however, since production constraints mean that only 400 units were produced in May for both models. The situation doesn’t appear to be improving either since only 50 Hummer EVs rolled off the line in August.

Production should pick back up in the coming months, but even in ideal circumstances, fulfilling all of the orders would take many years.

Of course, reservations are not final orders and the deposit can be refunded, but GMC claims that over 90% of the reservation holders will go through with the purchase.

This is because the Hummer EV is one of the first electric trucks on the market and one of the most powerful EVs ever, but it is also because many buyers see it as an investment instead of a depreciating asset.

Only the future will tell if these people are right, but for the moment, the few units that have been delivered and subsequently resold have been known to fetch up to three times their original MSRP.

General Motors is currently working on new battery factories that will enable it to build more electric vehicles each month, thus making the Hummer EV less rare and probably more affordable as well.


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