The powerful GMC Hummer EV electric car has risen in price. Unfortunately, automakers are simply unable to stop the rise in prices for spare parts.
Rising prices are seen across the board as automakers struggle to cope with supply chain deficiencies and increasing production and assembly costs. The entire BMW 2023 lineup has just grown in price, and all-electric brands such as Rivian have faced a sharp price spike altogether. Tesla generally raised the recommended retail price several times last year. General Motors has become the latest victim of the price increase, as the GMC Hummer EV 2023 pickup truck and the Hummer EV 2024 SUV will soon rise in price.
“Orders for the new GMC Hummer EV placed after June 18 will rise in price by $6,250 compared to the manufacturer’s recommended base retail price due to increased prices for commodity parts, technology, and logistics,” the company said in a statement. Recall that by the end of today, the price for the basic version of the EV2 pickup truck and SUV is $79,995.
The cheapest pickup truck or Hummer EV SUV, which will not appear until the spring of 2024, will cost $86,245 by the time of release. Top-end EV3 trim levels will now cost at least $106,245. As for the Edition 1 models, they are already sold out, so the booking should be $110,295 for a pickup truck and $105,595 for an SUV. Deliveries of the first are already underway, and the second will begin early next year.
At least GM allows current reserve holders to keep the same prices, does not change prices overnight, and is not subject to prosecution, as happened with Rivian. GMC says it currently has 77,500 bookings, and all of them are now locked in at the original base price. Starting this summer, EV3 pickup truck buyers will be able to assemble their cars with different paint colors and options, such as an Extreme Off-Road package and a 24-module battery.
GMC states that “the final price is determined based on the selected options and packages, as well as the price that the customer and the dealer agree upon at the time of ordering the car.” This last part is crucial because it allows dealerships to set their margins on cars, despite repeated warnings from GM. We have already witnessed how several Hummer cars were sold at online auctions for more than $200,000, which proves that the rich prefer to pay a lot of money rather than wait for their pickup truck to be delivered.