The hype surrounding the popular model, Hummer EV, has led to a burst in price speculation. The price has dropped by over one million yuan.

Heightened Anticipation for the Hummer EV Causes Spike in Price Speculation, Resulting in Million-Yuan Drop

【PhoneAuto News】 The Hummer EV, owned by General Motors GMC, is an all-electric pickup truck. Since its launch, the vehicle has been hyped up to sky-high prices, but now the market has crashed, and prices are starting to return to normal. The biggest feature of this vehicle is its powerful 1000 horsepower, able to accelerate from 0 to 60 miles in 3 seconds, equipped with the latest electric technology. It is referred to as the “Super Truck” by GM and is a dream choice for electric vehicle enthusiasts.

Hummer EV

However, this vehicle is not cheap. Its base MSRP (Manufacturer’s Suggested Retail Price) is $101,140 (approximately RMB 720,500), which is beyond the reach of ordinary consumers, even at the original price. Surprisingly, this vehicle has faced speculation since its launch. Some dealers and resellers have doubled or even tripled the price to make a huge profit. Not long ago, some Hummer EVs were priced as high as $325,000 (approximately RMB 2.32 million). This led some buyers who wanted to own this symbol of status to empty their wallets.

• Tengshi will release two flagship sedans in the first half of next year, surpassing Porsche Maybach?
• Expected lithium price to fall below 100,000 RMB/ton next year, good news for electric car price reduction!
• The top ten SUV manufacturers in terms of sales from January to October sold a total of 6.577 million units.

However, this hype couldn’t last too long. With an increase in supply of the Hummer EV, market demand gradually saturated. The Hummer EV online community also grew tired of the inflated prices, condemning resellers who demanded prices higher than the suggested retail price on Facebook, forums, and Reddit. Some even believed that the suggested retail price itself was too expensive. This bubble finally burst.

Hummer EV price trend

Now, many Hummer EVs have returned to the official suggested price or slightly higher. Several automotive websites have numerous listings of this model, with only two prices showing an increase. This is almost one-third of the price compared to 18 months ago.

Hummer EV

The collapse in the price of the Hummer EV reflects the changes in the electric vehicle market. Electric vehicles are no longer scarce novelties but increasingly popular means of transportation. Consumers are no longer only concerned about the performance and technology of electric vehicles, but also their practicality and value for money. Although the Hummer EV is still an attractive electric pickup truck, it has lost its previous sense of mystery and uniqueness. Its price must also adapt to the actual market situation to remain competitive.

We will continue to update Phone&Auto; if you have any questions or suggestions, please contact us!