The Hummer EV as GMC’s high-end electric vehicle seems a great business approach and, from its sales performance, seems to have exceeded all expectations.
Currently reservations for both models – the GMC Hummer EV Pickup and the GMC Hummer EV SUV are very strong, exceeding 90,000 (backed by a $100 refundable deposit).
90,000 is a huge amount for a high-end EV. Compare that to the 783 units shipped so far (between December 2021 and September 2022).
Duncan Aldred, Buick and GMC Global Vice President said the Hummer EV “sold out for two years or more.”. Seems like an exaggeration, but considering the large number of reservations and the waiting time should be quite long for new orders.
Assuming that all reservations turn into binding orders, this means that GNCs must produce 45,000 per year. It’s hard to say the company will be able to produce so many Hummer EVs in 2023.
GM Authority in its report said that for approximately one year, the company produced 2,570 GMC Hummer EV pickup trucks.
What can be a bit of relief is that the production capability increases over time. In September production of the Hummer EV hit a new record level of 750. If GM is able to maintain production levels, then it will be 9,000 per year.
However, in November/December, the GM Factory Zero plant in Michigan will halt production for a few weeks to deal with the upgrades needed for production of the upcoming Chevrolet Silverado EV.
In today’s dif- ferent economy, ordering a GMC Hummer EV actually sounds like a good investment – their resale value is very high with many fetching double the MSRP. That would explain why so many pre-orders convert into purchases.
