Electric Hummers Are Selling for More Than $100,000 Over List Price as Wait List Tops 77,000

Interested in buying an electric GMC Hummer? I hope you have a quarter of a million dollars on hand – or a lot of patience. Or both.

Because while the list price set by GMC for such a vehicle was just $112,595, the open market says it’s worth twice that.

Maybe it’s because this vehicle was only the fifth to roll off the assembly line and the buyer saw it as a collector’s item. (He’s probably right about that.) Perhaps the near-new condition of the vehicle, with only 80 miles on the odometer, contributed to the price. There may have been other factors at play that we don’t know about.

Whatever the reason, the 2022 vehicle fetched $225,500 at auction Saturday, costing just over double its original retail price.

As Fox News reported in May, the GMC Hummer EV Edition 1 pickup was sold at prices unrelated to its MSRP — but that’s how the free market works. When demand exceeds supply, prices rise. Sometimes they increase dramatically.

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According to Fox, GMC had about 70 orders for each electric Hummer it planned to make this year — and that was in May.

Anyone who has bought, or attempted to buy, a vehicle, new or used, in the last 18 months knows that supply chain issues have meant that cars, electric or not, are in short supply. The market is only now returning to something resembling normality.

That could even apply to electric Hummers, Business Insider suggested this week.

But with a waiting list of 77,000 potential buyers and a reported production capacity of 12 vehicles per day, according to The Wall Street Journal, it will take time to rebalance this market.

Would you ever buy an electric vehicle?

If you’re one of the lucky few to get your hands on one of the most sought-after new vehicles in decades, you have to be prepared for the maintenance costs — at least once the vehicle is out of warranty.

For example, you would have to be willing to spend up to $8,000 just to replace a set of taillights on the vehicle, as The Western Journal recently reported.

According to Car and Driver, this could be the cost – depending on local taxes and prevailing labor rates where you live – to replace the taillights on the new GMC Hummer EV SUT.

And if you find the Hummer waiting list daunting and opt for a Ford F-150 Lighting EV instead, I’d suggest you start praying now that you’ll never have to replace the battery.

There are two possible batteries for the Lightning: the standard battery, which is said to give drivers a range of around 230 miles, and the extended-range version, which increases that to around 300 miles, said Tim Esterdahl of Pickup Truck Plus SUV Talk. in a video posted to YouTube on Sunday.

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Esterdahl is clearly the guy who wants to get the bad news out of the way first, as he shared a screenshot of the price of the extended range battery to start.

It was $35,960.

That’s not a typo; The decimal point is in the right place. If your first thought was, “That’s more than I paid for my entire car!” you’re not alone.

Esterdahl said that was just for the battery, although he estimated the labor required to fit it was “pretty cheap”.

If that seems high, you can always opt for the standard range battery for only $28,556.47. (Do you think the 47 cents would be a deal breaker? If you told the dealer, “I paid $28,556 for this battery and not a penny more!”, would they let you go?)

Or, if you’re not a collector, you could do what wisdom dictates in such cases – settle for something else until supply and demand for electric vehicles are balanced. The same free market principles that are driving these prices up today will likely pull them back down to earth at some point.

So if you don’t have a quarter of a million dollars on hand, investing a little patience in the process is definitely the way to go. The market will eventually correct itself.

George Upper is the former Editor-in-Chief of The Western Journal and an occasional co-host of WJ Live, operated by The Western Journal. He currently works as an editor in the fields of faith, politics and culture. A former special operator, instructor and adviser to the US Army, he is a life member of the NRA and an active volunteer leader in his church. He was born in Foxborough, Massachusetts and has lived most of his life in central North Carolina.

George Upper, former Editor-in-Chief of The Western Journal, is now Contributing Editor on Faith, Politics and Culture. He is a former US Army special operator, instructor, manager and adviser. Born in Massachusetts, he graduated from Foxborough High School before joining the Army and spending most of the next three years at Fort Bragg. He holds bachelor’s and master’s degrees in English and a master’s degree in business administration, all from the University of North Carolina at Greensboro. He now resides in central North Carolina with his wife and a Maine Coon named Princess Leia, whose name he is not responsible for. He is active in his church’s education and security services and is a lifetime member of the NRA. In his spare time he films, reads a great deal by Lawrence Block and John D. MacDonald and watches Bruce Campbell films. He’s a fan of individual freedom, Tommy Bahama, fine G-2 pens and the Oxford comma.

Place of birth

Foxborough, Massachusetts

nationality

American

Honours/Awards

Beta Gamma Sigma

education

BA, English, UNCG; MA, English, UNCG; MBA, UNCG

location

North Carolina

Spoken languages

English

Topics of expertise

Faith, Economics, Leadership and Management, Military, Politics

https://www.westernjournal.com/electric-hummers-selling-100000-list-price-wait-list-tops-77000/ Electric Hummers Are Selling for More Than $100,000 Over List Price as Wait List Tops 77,000

Linh

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