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General Motors Raises Prices for Electric Hummers

General Motors announces an increase in the prices of electric Hummer cars, starting this weekend

General Motors said it will raise the price of the electric version of its Hummer by about $6,250 starting Sunday, as the American auto giant has blamed high parts prices, technology and logistics for transporting and assembling vehicles, but all cars ordered before Saturday will be Excluded from the new price, bearing in mind that the price of a Hummer truck ranges between 80-100 thousand dollars at the present time.

This news comes at a time when many car companies have raised the price of their electric vehicles, especially in the past weeks, as the war between Russia and Ukraine and disruptions in supply chains pushed the prices of raw materials needed to manufacture batteries, forcing Tesla, Rivian and Cadillac to raise the prices of their vehicles. Read more [Tesla Car Models are Priced Higher in The US].

General Motors’ reservations for the Hummer electric truck have reached 77,500 vehicles, which is higher than the company’s initial expectations, but the American company revealed last March that it would increase its production of electric Hummer cars, and although this vehicle is still for sale, but the delivery of New orders for buyers will not be before 2024 due to the huge number of reservations, according to the statements of an administrative official at General Motors. As for the electric four-wheel drive Hummer sports car, it is expected to reach the markets next year. Read more [GM and Honda Will Produce Affordable Electric Cars].

It is noteworthy that GM shares plunged last week to levels below its IPO price of $33 for the first time since October 2020, and since the beginning of the year so far, GM stock is down 45%.

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