GMC Hummer EV Increases Price by More Than $6,000 — Does it Affect Existing Pre Orders?

GMC Hummer electric vehicle (EV) price saw a massive increase of over $6,000, shortly after Tesla also jacked up the retail cost of its lineup by roughly the same hefty amount.

But does the latest move of General Motors (GM) affect even the existing pre-orders? Folks wanting to get their hands on the non-gas-guzzling Hummer might be wondering by now.

GMC Hummer EV Price Increase

General Motors (GM) announced on June 17 that its all-electric Hummer is significantly shooting up its price tag.

As per a news story by CNBC, the new pricing starts to be effective as early as the next day, June 18.

If we are being more precise, the electric Hummer adds a hefty $6,250 price hike to its original retail cost.

Electric Vehicle Prices

The price increase of the Hummer EV is not at all surprising. The move of GM follows other car makers, which have also jacked up the costs of their offerings in the past few weeks.

EV makers are most affected by the ongoing inflations of parts. As such, automakers like Rivian and Tesla have already hiked the prices of their all-electric car lineup.

CNBC notes that the conflict between Russia and Ukraine is one of the culprits of the price hike in EVs.

But aside from the politics, the supply chain mess has yet to ease up, affecting the raw materials of EV batteries.

All that said, the prices of electric cars these days are inevitably going to skyrocket.

According to a recent report by Inside EVs, GM primarily blames "commodity parts, technology and logistics" for the massive price hike of the Hummer EV.

The automaker says that all of these have jacked up the costs of producing the Hummer. Thus, forcing the giant firm to increase the retail price of its electric pick-up truck.

Hummer EV Pre-Orders Affected?

Despite the looming inflation of EV prices, including the all-electric Hummer, GM assures existing pre-orders of its electric pick-up truck that its price remains the same.

GM also highlights that roughly 77,500 units of the electric Hummer got spared by the more hefty price tag.

However, it is bad news for customers planning to reserve the EV on June 18 and beyond. The over $6,000 hike applies to all new reservations of the GMC Hummer.

The automaker could not provide final pricing details for the Hummer EV. Instead, it says its price tag still depends on the additional options, packages, and "the price the customer and dealership agree upon at the time of the vehicle ordering."

It should range from $80,000 to as high as $100,000, CNBC reports.