The GMC Hummer EV is an extremely popular new vehicle with buyers excitedly taking delivery of their new 1,000 horsepower electric trucks. There’s plenty to enjoy with these vehicles if the $112,595 sticker price isn’t a significant deterrent for you. That, of course, is excluding whatever appalling dealer markup may be sitting on top of the price. Nevertheless, the vehicle is so popular that people are flipping the Hummer EV for well over $200,000 USD.
GMC Hummer EV Flips Are Wild
A huge flipper market is expected with the launch of a new and highly anticipated vehicle. Buyers and sellers have made their way to forums and Facebook groups to offer large sums of money for reservations. Buyers are seeing double or nearly triple the original MSRP in the rare cases that someone can find one for sale.
Sellers are cautious about publicly listing the price for their Hummer EVs as many are asking potential buyers to message them instead of listing the price. This tactic is a way to receive serious inquiries or ward off possible internet criticism due to the absurd pricing. However, The Drive managed to find a few prices listed, all of which were sitting above $300,000. They even noted that a salesperson on the Hummer Chat forum claimed that he heard of a Hummer EV being sold in Los Angeles for $450,000, which is likely an attempt at helping sales.
Even the C8 Corvette when it just came out wasn’t this bad.
Some people are even selling their reservation slots for up to $60,000, which is a considerable step up from the $100 cost that filled the original reservation slots in just 10 minutes. Some buyers are willing to pay a hefty sum to get a Hummer EV, with one shopper stating that he offered $200,000 to private sellers, and all of them refused as they wouldn’t sell for less than $250,000.
GM announced in late 2020 that it would crack down on dealers marking up the Hummer EV, but it didn’t mention how private sellers would be viewed. Over at Ford, meanwhile, things are being done to force customers to hold onto their F-150 Lightning electric trucks for a fixed amount of time before selling them, a practice that we first saw with the Ford GT supercar.