Here's why a GMC Hummer EV just sold for $225,000 at auction, double its list price
Electric pickup remains in short supply and high demand
Inside the 2022 GMC Hummer EV
Fox News Autos Editor Gary Gastelu provides insight into the 2022 GMC Hummer EV and its features.
The GMC Hummer EV is one of the hottest vehicles on sale today.
Flippers continue to sell the low-volume electric vehicle for huge amounts over list.
GMC has only delivered 783 of the 1,000 horsepower full-size trucks so far as production ramps up, and the high-priced pickup remains in high demand.
The fifth one off the production line was sold Oct. 22 at the Barrett-Jackson event in Houston for $225,000.
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This GMC Hummer EV with 80 miles on the odometer sold for $225,000 at auction. (Barrett-Jackson)
That is twice its original base price of $112,595.
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The vehicle only had 80 miles on its odometer, so it is essentially new, and the price shows an uptick from recent weeks.
The GMC Hummer EV has a 1,000 horsepower drivetrain. (Neiman Marcus / Fox News)
While a few have been sold for over $200,000 this year, several were auctioned on the Bring A Trailer website in the $167,000 to $181,000 range in September and October. Peak Hummer EV may have passed, however.
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One with 48 miles on it was sold at Barrett-Jackson's Las Vegas event in July for a record $324,500.
GMC only delivered 783 Hummer EVs through September. (Photographer: Emily Elconin/Bloomberg via Getty Images / Getty Images)
Supplies of the Hummer EV are set to get worse before they get better. GM is suspending production at the Michigan factory that builds it for a few weeks starting in November to retool it for increased output.
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Not just of the Hummer EV, but also the Chevrolet Silverado EV that will be joining it next year at a starting price fo $41,595 and the GMC Sierra EV Denali that begins deliveries in early 2024 at $107,000, with an entry-level Sierra EV to follow closer to $50,000 in 2025.