GM pulls plug on Hummer EV reservations amid surging demand

GM pulls plug on Hummer EV reservations amid surging demand

Forget about inflation, interest rates and potential recession: people want GM (GM) All-new electric Hummer, bad. The problem is that GM can’t keep up.

The auto giant said Thursday it has stopped making reservations about the GMC-branded Hummer EV due to the limited capacity to build it.

“We are excited to say that this massive demand has resulted in the Hummer EV being fully booked at this time,” GM said in a statement Thursday.

It’s another sign of strong demand for cars of any size and type β€” even a 9,000-pound beast like the Hummer β€” that use the electric grid and rechargeable batteries for mobility instead of a gasoline and internal combustion engine.

And the numbers prove it: Electric vehicle sales are on track to hit an all-time high this year, according to the International Energy Agency’s annual Clean Energy Progress Tracking Update released Thursday.

The Paris-based organization said it expects electric vehicles to account for 13% of total light vehicle sales globally in 2022, though it cautioned that “stronger efforts” are needed to put the world “on track to reach a net Zero emissions” by 2050.

Whether it’s to help the environment or feel the power of a massive four-wheel drive that is propelled forward from zero to 60 mph in less than three seconds, the Chevrolet Hummer is proving to be something consumers want.

GM’s problem, like other manufacturers, is keeping up with production. Between January and June, GM delivered less than 400 of the pickup version of the Hummer.

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This problem stems from several complex problems: ongoing supply chain problems that have halted production and movement of critical components like microchips, affecting all automakers, but most importantly the shortage of lithium batteries needed to power vehicles.

stronghold (F) I stopped making reservations about the all-electric F-150 Lightning when the backlog reached 200,000 at the end of 2021. Deliveries of the electric truck began in May and the company is ramping up production, although as of the end of August only 6,800 vehicles have been delivered. .

And even Tesla (TSLA) the world’s largest maker of electric vehicles, reported that it had only had stock for four days as of the end of June.

Nearly all traditional automakers have announced huge investments to build electric car battery plants, usually with a battery maker as a joint venture partner, although those efforts are still years away from coming online.

You can get the Hummer EV now – for a premium

And that’s where GM gets into trouble with the Hummer. It currently has reservations for about 45,000 pickups and about 45,000 of the SUV version. Although it promised to begin delivering the vehicles next spring, it hasn’t confirmed how long it will take to get all 90,000 pre-ordered Hummers on its roster on the aisles of eager customers.

The electric Hummer is not cheap. Various lot offerings give it starting prices between $84,650 and $104,650. And for those who order directly through GM: A quick internet search shows that some lucky electric car owners are offering to part with their coveted hardware for three times the price.

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A white version of the Hummer EV Pickup with 100 miles on the odometer and window sticker price of $114,290 is currently available on the aftermarket site Cars & Bids for $150,000.

The Hummer, a civilian version of the M998 Humvee, was first marketed in 1992 and quickly became an environmental nightmare due to its gas-guzzling methods. The brand was discontinued in 2010.

For those who want something smaller and less expensive, General Motors also has a car to suit you: the Chevrolet Equinox, which goes on sale in 2024 with a starting price of $30,000.

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