Tuesday, July 5, 2022
News The GMC Hummer EV will be $6,000 More Expensive for New Buyers

The GMC Hummer EV will be $6,000 More Expensive for New Buyers

The GMC Hummer EV is getting even more expensive due to production issues and material costs.

  • Current reservation holders will not be affected

  • This will bring the base price of the truck to $86,245 in the US

  • General Motors claims this is due to increasing production costs

General Motors has announced that the GMC Hummer EV will see a $6,000 increase to its base price in the United States starting tomorrow.

According to the automaker, this comes as a result of increasing production costs and supply issues, which have caused recent price increases for many other companies.

GMC assured current reservation holders that the price they agreed to when placing their order will not be increased before they take delivery and it encouraged buyers who are on the fence to place an order today to benefit from the lower base price of $79,995.

Starting tomorrow, $6,250 will be tacked on to each trim level’s price, which means the top-of-the-line EV3 model will start at $106,245. The Limited Edition 1 models have all been reserved already, meaning that they will keep their initial price.

The company says it currently has 77,500 pre-orders for the GMC Hummer EV which are separated between the pickup and the SUV, which will reach its first buyers next year.

As in many cases with highly anticipated new vehicles, especially with electric trucks, the strong demand and the low production volume leads many dealerships to apply significant markups and this practice will happen with the Hummer EV since GM allows its dealers to set their own price, despite warning some of those who went too far with their greed.

General Motors is not the only company to have recently increased the price of its vehicles since BMW recently announced its entire lineup will be more expensive to buy in the US for 2023 and Ford has warned about potential increases in price for its future EVs due to the record-high price of lithium.

The company has not said how this price hike will translate for Canadian buyers, but they will likely also need to pay more than before if they add their name to the order list after tomorrow.

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