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Discussion Starter · #1 ·
GMC Raising Prices for Hummer EV Pickup and SUV Models
GM says the increase of $6650 is due to costlier parts and logistics, and it applies to all orders placed starting tomorrow, June 18.

Car and Driver

  • Pricing for the Hummer EV is going up by $6650, for all orders placed starting tomorrow, June 18.
    [*]Existing orders won't see a change in MSRP.
    [*]The Edition 1 pickup has already begun deliveries. The EV3X version of the pickup will arrive next, this fall, and the SUV will begin deliveries in spring 2023.
If you are all set to order a GMC Hummer EV, the time is now. The prices for both the pickup and SUV models are rising by $6650, but orders placed before tomorrow, June 18, will not see an increase. That includes all existing orders; GMC says that 77,500 people have already placed reservations.
 

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I thought the purpose was to get people interested in purchasing electric vehicles, not drive them further away.
Tesla has no problem ever increasing their prices. The "cheapest" Tesla available is now nearing $50k and they don't even provide a gauge cluster.
 

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I thought the purpose was to get people interested in purchasing electric vehicles, not drive them further away.
Only the Bolt.
All others going up, up, up.
 

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$100,000 and they still aren't profitable?

Wouldn't it be funny (not funny) if they kept raising prices, and by the time the Hummer EV3X comes out it's $100,000 instead of $80,000?
 
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I thought the purpose was to get people interested in purchasing electric vehicles, not drive them further away.
Isn't the purpose to make a profit? Ford already announced they aren't making any money on the eMustang, think they aren't going to raise prices? Just like every product we buy? Probably the biggest issue for Ford vs. the Hummer is my guess is that the eMustang buyer is more price sensitive than the Hummer buyer.
 

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Discussion Starter · #7 ·
The biggest factor in these price increases (and Mach-E break even) are that the raw materials cost have shot up. Most likely, that market is seeing an artificial spike, and should cool off and stabilize over the next few months.

GM has secured a sources for these materials, but the negotiated lower cost will not come into play until the Ultium Cells plant comes online in Lordsrtown this August for mass production. Currently the Ultium batteries are being made by LG in South Korea on a temporary line and shipped to North America, and that plant is sensitive to market cost fluctuations.. That's one of the biggest factors as to not only the cost increase, but also the limited number of Ultium EVs being produced now.

My question is: Once those raw materials cost comes back down, will the automakers also reduce their prices as well?
 

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The biggest factor in these price increases (and Mach-E break even) are that the raw materials cost have shot up. Most likely, that market is seeing an artificial spike, and should cool off and stabilize over the next few months.

GM has secured a sources for these materials, but the negotiated lower cost will not come into play until the Ultium Cells plant comes online in Lordsrtown this August for mass production. Currently the Ultium batteries are being made by LG in South Korea on a temporary line and shipped to North America, and that plant is sensitive to market cost fluctuations.. That's one of the biggest factors as to not only the cost increase, but also the limited number of Ultium EVs being produced now.

My question is: Once those raw materials cost comes back down, will the automakers also reduce their prices as well?
We hope so anyway, but at the current state of affairs they just might sadly dub this THE NEW NORMAL as all those types like to do and sort of merrily go on their evermore expensive way. :(
 

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Isn't the purpose to make a profit? Ford already announced they aren't making any money on the eMustang, think they aren't going to raise prices? Just like every product we buy? Probably the biggest issue for Ford vs. the Hummer is my guess is that the eMustang buyer is more price sensitive than the Hummer buyer.
Only because the average person doesn't even think of the Hummer as a realistic option.
- Ford sold 5,179 Mustang EV's in May, how many Hummer's did GM sell; 4?


All the minerals needed for those electric batteries have skyrocketed in price.
Wait, I thought prices were going to go down when usage increased?
 

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Only because the average person doesn't even think of the Hummer as a realistic option.
- Ford sold 5,179 Mustang EV's in May, how many Hummer's did GM sell; 4?




Wait, I thought prices were going to go down when usage increased?
That’s Pre Pandemic and you know this.
 

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We all understand you don't like the Hummer.
Right, because the cheapest version is $80,000 and not available for a couple years; sorry $86,000...

But what does that have to do with your comment and my question?
 

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The biggest factor in these price increases (and Mach-E break even) are that the raw materials cost have shot up. Most likely, that market is seeing an artificial spike, and should cool off and stabilize over the next few months.

GM has secured a sources for these materials, but the negotiated lower cost will not come into play until the Ultium Cells plant comes online in Lordsrtown this August for mass production. Currently the Ultium batteries are being made by LG in South Korea on a temporary line and shipped to North America, and that plant is sensitive to market cost fluctuations.. That's one of the biggest factors as to not only the cost increase, but also the limited number of Ultium EVs being produced now.

My question is: Once those raw materials cost comes back down, will the automakers also reduce their prices as well?
Definitely have gone up. Though I don't think we'll see prices go back down very quickly - some of these raw materials are impacted by Russia, I suspect Russia will remain in "economic jail" for quite awhile even if Russia jails Putin, withdraws their troops and promises to pay for the rebuilding of the Ukraine. Which that isn't going to happen.
 

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Only because the average person doesn't even think of the Hummer as a realistic option.
- Ford sold 5,179 Mustang EV's in May, how many Hummer's did GM sell; 4?
Unfortunately, GM doesn't release monthly sales data to the public. I suppose we'll have to wait until early July for Hummer EV sales data for Q2 and first half of 2022.

In Q1 2022, GM sold 99 Hummer EV.
 
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I thought the purpose was to get people interested in purchasing electric vehicles, not drive them further away.
Every time I hear any talk of EV pricing the only thing I hear is they keep going higher and higher. With the average American barely making it to the next paycheck and the average car payment recently cresting $700 I don’t think they can keep turning the screws on the general population much longer.
 

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Every time I hear any talk of EV pricing the only thing I hear is they keep going higher and higher. With the average American barely making it to the next paycheck and the average car payment recently cresting $700 I don’t think they can keep turning the screws on the general population much longer.
Yeah, all of this seems to be heading towards a disaster of shooting themselves in the foot as for this high paced EV adoption dream.
 

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