The 2024 GMC Sierra EV Denali Edition 1 broke cover last week. And from the looks of it, this futuristic luxury truck stands to be the nicest, most premium electric pickup the world has so far seen. Worthy of the ‘Denali’ name, in other words. And perhaps worthy of the $107,000 USD price tag. In fact, reservations for the limited edition truck are fully reserved. However, that’s not the only six-figure electric truck GMC will be selling. The $112,000 USD Hummer EV Edition 1 is already on sale, and with 1,000 horsepower, formidable off-road capabilities, and spaceship looks – it stands to reason that GMC showrooms aren’t big enough for two head-turning electric trucks. However, brand officials don’t see it that way.
GMC Sierra EV vs. Hummer EV: Details
During a media-only press briefing ahead of the GMC Sierra EV Denali Edition 1 reveal, brand vice president Duncan Aldred took the time to answer a question that seemed to be on everybody’s mind: how will GMC sell two six-figure electric pickup trucks without the two fighting for the same customer, given the similar pricing?
“We’ve looked into where (Hummer EV reservations) come from. Roughly 75 percent of those are new to the GMC brand, so you just compare that to the GMC Sierra which has the highest loyalty of any vehicle in the GMC stable,” said Aldred. “In fact, full-size pickup trucks have the highest loyalty in the industry generally. The (Sierra EV) will have much broader appeal to GMC owners, Sierra owners as well, and of course the price points are going to differ hugely.”
The starting price for the base Elevation trim will be around $50,000, or $30,000 cheaper than the most affordable Hummer EV pickup (EV2) which will come in around $80,000 USD. Both of the entry-level variants are still a few years out. The Sierra EV Elevation and/or Sierra EV AT4 will not be exclusive to fleet companies, which is an opposite approach with Chevrolet’s entry-level Silverado EV Work Truck, which stands at over 85,000 reservations.
$50,000 might sound like a lot, but for an electric full-size truck, that appears to be the floor. Consider the latest MSRP of the Ford F-150 Lightning, which now has a starting price of $51,974. The Chevrolet Silverado EV Work Truck – exclusive to fleets – is said to have a starting MSRP of just under $40,000, but isn’t expected to launch until late summer 2023. Meanwhile, the average transaction price is over $60,000 for an ICE-powered GMC Sierra truck, giving the brand a logical barometer for the electric version’s base price.