GM Follows Tesla's Lead and Hikes Prices on the Hummer EV

GM Follows Tesla's Lead and Hikes Prices on the Hummer EV

The price of the GMC Hummer EV is expected to rise significantly because of escalating components, raw material, technological, and logistical expenses. The price increase applies to new bookings booked on or after June 18; current preorders remain unchanged.

The GMC Hummer EV is now one of the most costly electric vehicles on the market in the United States, but that does not mean it is immune to inflationary pressures.

On new bookings, the price of the GMC Hummer EV is expected to rise by $6,250. The price of the GMC Hummer EV is being raised because of increasing raw material and component costs, technological advances, and transportation expenses. On Friday, the US carmaker revealed the decision to raise the price of the Hummer's all-electric variant.

The Hummer EV presently has over 77,500 bookings that will not be affected by the price increase, but the price rise will take effect for cars reserved on or after Saturday, according to General Motors.

The price of the all-electric pickup vehicle was initially between $80,000 and $100,000. It will now cost you between $90,000 and $110,000 once the dealerships are done with you. Yes, unlike Tesla, you would still have to go through a brick-and-mortar dealership to purchase the Hummer EV. 

For new bookings made after June 18, the carmaker states that the final cost will be decided by the options and packages chosen, "as well as the price the client and dealership agree upon at the time of vehicle ordering."

Aside from the price hike, GMC has stated that Hummer EV Pickup buyers who have an existing reservation for the 3X trim level will be able to personalize their car this summer by picking their chosen options and packages before submitting their order.

The decision to raise the price of the GMC Hummer EV follows recent statements by Tesla and Rivian to raise the prices of their respective EVs. Tesla upped the price of all its vehicles just last week, marking the automaker's seventh price increase in as many months.

Rivian Automotive, another all-electric car company in the United States, increased the price of its R1T pickup truck by 20% after its stock plummeted from an overinflated summer all-time high. However, following customer reaction, the automaker reversed the price increases for vehicles ordered before March 1.

Meanwhile, GMC CFO Paul Jacobson stated that the manufacturer was able to offset $5 billion in increased supply chain costs by a combination of hiking prices and reducing operational expenses.

As previously stated, the pricing for extras and packages are added to the base MSRP. Customers who purchase a GMC Hummer EV 3X Pickup will shortly get further information on possible options and packing.

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