GMC Hummer EV to be costlier by more than $6,000, follows Tesla and Rivian

GMC Hummer EV price is set to hike substantially owing to the rising costs of components, raw materials, technology and logistics.
By : HT Auto Desk
| Updated on: 19 Jun 2022, 05:22 PM
GMC Hummer EV has become pricier following suit of Tesla Model 3 and Model Y.
GMC Hummer EV has become pricier following suit of Tesla Model 3 and Model Y.
GMC Hummer EV has become pricier following suit of Tesla Model 3 and Model Y.
GMC Hummer EV has become pricier following suit of Tesla Model 3 and Model Y.

GMC Hummer EV price is slated to increase by more than $6,000 on new reservations. The price of GMC Hummer EV is being increased owing to the rising price of key raw materials, crucial components, growing technology and shipping costs. The US automaker announced the decision to increase the pricing of the all-electric iteration of the Hummer on Friday.

(Also Read: Tesla can come to India but needs to follow govt policies: Minister)

The all-electric pickup truck currently comes priced between $80,000 and $110,000. Hummer EV currently has more than 77,500 existing bookings which will not be impacted by the price hike, but the increased price will come into effect for vehicles being reserved on or after Saturday, said General Motors.

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The decision to increase the price of GMC Hummer EV comes on the heel of two electric vehicle major Tesla and Rivians announcements to increase their respective EVs' pricing recently. Tesla raised the price of its bestselling EV Model 3 and second-bestselling car Model Y last month, which was the fifth price hike from the car brand in just a few months.

Another US all-electric vehicle manufacturer Rivian Automotive too raised the price of its pickup truck R1T by 20 per cent. However, the auto company rolled back the hikes on vehicles booked before March 1 after facing backlash from customers.

Meanwhile, GMC CFO Paul Jacobson has said that the automaker has been able to offset $5 billion in higher supply chain costs by raising the prices of its vehicles and cutting operational expenses as well.

First Published Date: 19 Jun 2022, 05:22 PM IST
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