by The Beginning of the Hummer EV Era
When the GMC Hummer EV appeared on the market, it caused a real sensation. Fans eagerly awaited the return of this legend, major celebrities advertised it, and the first units sold for hundreds of thousands of dollars. Dealers demanded double the MSRP, but since then, much has changed. And that’s putting it mildly.
Today’s Discount Realities
Currently, even with discounts that in some cases reach $40,000 or more, General Motors is struggling to sell the mighty electric giant. For comparison, the discount amount alone exceeds the price of a new BMW 228 Gran Coupe, which starts at $39,600 in the USA!
Examples of Hummer EV Discounts
Market Situation
This does not mean that the GMC off-roader has suddenly become an exceptionally good deal. A vivid example is the Expressway GMC dealership in Mount Vernon, Indiana. One 2024 Hummer EV SUV 3X Omega Edition is priced at $99,780, including a discount of $42,550.
According to GM Authority, Jerry’s Buick GMC in Weatherford, Texas, is also offering a $40,648 discount on another Omega Edition model.
The Omega Edition is a fully loaded version of the Hummer EV with all possible options and a unique matte Neptune Blue paint. However, even such luxurious features could not justify the high price, and buyers started avoiding this model.
The Problem of Excess Supply
GMC provides an online search tool for vehicles across the country, and currently, 130 Omega Edition models are waiting for buyers. Furthermore, another 155 Hummer EVs also remain unsold on dealer lots.
These are only the 2024 model year vehicles that have been sitting there since the end of 2023. Moreover, there are already over 2,300 units of the 2025 model year and another 1,816 of the 2026 model year on the market.
The DRAC Program
If you are interested in buying a GMC Hummer EV, you have a huge selection – over 4,400 cars are waiting for buyers. To help dealers sell these units, GM uses the Dealer Rent A Car (DRAC) program.
Dealers temporarily use the Hummer EV as courtesy vehicles for clients, and after they accumulate a few thousand miles, sell them with significant discounts.
The moral of the story? For those who resisted the temptation to buy a Hummer EV at inflated prices initially, patience has paid off. And for some, this means savings in the six-figure range.
The rapid growth in supply and the decline in demand for luxury electric SUVs may indicate a shift in buyer priorities. Perhaps the market is oversaturated, or consumers prefer more economical and environmentally friendly options. This situation also highlights the importance of manufacturers’ flexibility in responding to market dynamics.
