November 4, 2022 6:49 pm
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Categories: JoshWho News news media US News ZeroHedge

The revival of the Hummer brand as GMC’s high-end EV has been a smashing hit. Demand is so high that pickup and SUV models are “sold out for two years or more,” according to the auto blog GM Authority

The Detroit-based automaker has received 90,000 reservations for both versions of the Hummer EV. GM Authority said all new orders had been halted since last month. 

For reference, GM has only produced 2,570 units of the Hummer EV Pickup as of September 2022, a far-cry from the 90,000 units needed just to meet reservations. 

However, production has been picking up as of late, as GM produced 700 Hummer EV Pickups in September, which represents almost 30 percent of all units built. 

In order to meet demand, this growth needs to continue, which will be facilitated by the opening of the first Ultium Cells plant in Ohio. 

Unfortunately, GM has also announced that Hummer EV production will idled for November as the plant undergoes upgrades to produce future products. — GM Authority

It’s hard to say whether GM can ramp up supply to meet the orders in 2023. Some of these 1,000 horsepower vehicles have been auctioned off at mindboggling prices in the last several months. 

A Hummer EV sold for a whopping $324,500 at Barrett-Jackson’s Las Vegas event in July. Another sold at Barrett-Jackson in Houston for $225,000 on Oct. 22. Others were recently auctioned off at Bring A Trailer website between $164,000 to $275,000. The list price for the full-size truck is $112,000. 

Supplies of the Hummer EV are set to worsen before they improve, which may keep secondary market prices elevated. 

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