GMC Hummer EV price to increase by more than $6,000 on new reservations

DETROIT -- GMC is hiking the price of the Hummer EV pickup and SUV by $6,250 for customers who place reservations after Friday.

The boost to the base sticker price is being driven by rising costs for commodities, parts, technology and logistics, GMC said Friday. Final pricing will be determined by options and packages a customer selects, along with the price customers and dealers agree to at the time of ordering.

The more than 77,500 reservations placed before June 18 will be unaffected by the change in base prices, GMC said.

New-vehicle transaction prices continue to rise industrywide as production bottlenecks severely undermine supply and consumer demand remains strong, allowing automakers and dealers to dial way back on incentives and raise sticker prices.

TrueCar estimates that the average transaction price rose 14 percent in May to more than $44,000 industrywide. At GM, the average transaction price for a new car or light truck last month was $50,566, up 9.1 percent over May 2021, TrueCar estimates.

Before the price adjustment, the cost of the Hummer EV pickup and SUV ranged from more than $110,000 for Edition 1 of the pickup to nearly $80,000 for base trims of the truck and SUV. Pricing excludes the $1,995 delivery fee.

GMC began deliveries of the Edition 1 pickup late last year. Edition 1 of the SUV is slated to launch early next year. Lower trims of both the pickup and SUV are scheduled to launch through spring 2024. The base model, which won't be available until 2024, will see pricing rise about 8 percent under the adjustment announced Friday.

The next pickup trim to launch will be the Hummer EV 3X this fall. Late this summer, customers with an existing reservation can customize the 3X with options and packages ahead of submitting an order. The customization includes paint color, an off-roading package, Watts to Freedom, which allows drivers to accelerate from 0 to 60 mph in about three seconds, and more.

U.S. deliveries of the Hummer EV pickup totaled 99 in the first quarter.