The GMC Hummer EV is worth $324,500 now

Supply, meet demand.

GMC is having no trouble selling its new Hummer EV and is sitting on 77,000 reservations for the all-electric pickup and upcoming SUV model.

The problem is making them.

GMC has delivered just 372 of the $112,595 pickups since December as it works to ramp up production to a run rate in the thousands later this year.

The vehicle is technically sold out into 2023, but some impatient customers have been putting up big bucks to get their hands on used ones ASAP.

And the prices keep going up.

Two low-mileage Hummer EVs were auctioned online in April and May for $275,000 and $260,420, which seem like bargain prices after the most recent sale.

This Hummer EV sold for $324,500 at the Barrett-Jackson Las Vegas auction.
(Barrett-Jackson)

A truck with 48 miles on the odometer was auctioned at the Barrett-Jackson Las Vegas event over Fourth of July weekend for $324,500.

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That is the highest publicly known price paid so far for a technically “used” example of the 1,000 hp off-roader, but it might not be for long as many owners appear to be eager to flip theirs while the market is hot.

One with 41 miles in it is currently for sale on the Bring A Trailer website, and bids have reached $190,000 as of this writing with one day to go.

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In June, GMC also raised the list price of all Hummer models by $6,250 citing supply chain costs, but that seems like a drop in the bucket compared to the auction prices right now.

The first Hummer EV was sold at a charity auction for $2.5 million.
(GM)

The record price for a Hummer EV is likely out of reach, however. The very first truck off the line was sold at a charity auction last year for $2.5 million.