When General Motors decided to bring the Hummer as an electric vehicle back to GMC Dealer locations across the country, it knew it would be a popular option. GM didn’t know, however, that demand for the EV Hummer would rise above supply by 100 to 1.
As we learned in basic economics, higher demand and low supply mean prices go up. That also means there is a market for “used” versions of this mighty EV. For example, a recent car collector’s auction showcased how much people are willing to pay to get a Hummer EV. The Hummer for sale had only 80 miles on it and sold for $225,000, which is more than double the vehicle’s $112,595 listing price. In Las Vegas this past July, another Hummer EV sold for $324,500.
As of today, only 783 Hummer EVs have been delivered. That’s a small fraction of the 77,000 people on the waiting list. For every Hummer EV that is on the road, 98 orders are still waiting. With the current rate of producing 12 vehicles per day out of the Detroit production facility, it would take GMC more than 17 years to fulfill all of its reservations.
Improvements Are Coming
Fortunately, GMC’s plant should be sending more units out of its factory and to GMC Dealer locations soon. GMC announced in September that it is investing $760 million into its EV-part production factory in Ohio. This investment should speed up how fast new EVs come off of the production line. Whether GMC can catch up with the number of orders it currently has is anyone’s guess.
The All-New GMC Hummer EV
Every GMC dealer in town threw a celebration when the Hummer returned to production lines. After this gas guzzler was discontinued, no one expected to see the nameplate again. Now that it is an electric vehicle, the Hummer takes on an entirely new interpretation.
It is offered as both an SUV and a truck. While some of the Hummer’s capabilities are impressively practical, others are just there to show off. For example, this beast can blast off from zero to 60 mph in just 3.3 seconds. That makes it one of the fastest vehicles on the road.
The Hummer EV also has the ability to crab-walk, which is a way to drive diagonally. The removable roof panels and optional air suspension make this an ideal rig to create new paths off-road.
The Hummer EV is estimated to provide up to 329 miles of electric driving range along with 1,000 horsepower. That means this rig can tow up to 7,500 pounds.
Waiting Is the Hardest Part
With the slow production process and a long waiting list, shoppers who want to enjoy the new Hummer EV have no choice but to skip visiting a GMC dealer and go straight to auctions and private sales. Of course, gaining access to this rig also means spending some serious coin.
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