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QuoteReplyTopic: New GMC TRUCK Posted: 06 Jul 2022 at 9:13am
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.
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.
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.
AFAIC the crazies can have these, are just machines, that will age poorly, batteries will fail and eventually have to be replaced in whole just as Any machine. Pays Your Moneys Takes Your Chances.
Tbone... several "MOTOR" sites have run the same story.. People are trying to sell them for a BIG PROFIT.... cant say how many are actually SOLD for that kind of money..
Thing is......the crazy money these people have, isn't real, GDP enhancing, economic strength money. It's either old money, or free cheese money, or money they had from selling something ELSE at a stupid ridiculous price. Things are slowing down. From the front lines of mfg, trust me, they're slowing down.
That's why people are lining up 2-3 deep at all the gas stations to buy the highest priced gas of our lifetime. Everyone' riding around in new cars that still have temporary tags. Starbucks have cars lined up all the way around the building waiting for a $5 a cup of coffee. The roads are packed with people NOT driving for fuel economy. Airports are jammed for people that just HAVE to go somewhere that they are not.
I'm sorry, but I grew up very close to my grand parents who lived through the 20s & 30s and learned not to be wasteful with anything. If those whining about how bad things are, knew the difference between "wants" & "needs", they would have money for their needs.
The prices shown at the beginning of this thread shows that priorities are way out of whack
Edited by PaulB - 06 Jul 2022 at 3:02pm
If it was fun to pull in LOW gear, I could have a John Deere. Real pullers don't have speed limits. If you can't make it GO... make it SHINY
77,000 orders for a $100K truck, and 3 IDIOTS that paid 2-3 X that much for one is NOT a good economy.... There are a couple MILLIONS trucks sold every year..... 77,000 back orders for an electric truck is easy to do with 300 MILLION people in the US...... 77,000 ?? .. FORD sells about that many GAS trucks in a MONTH.
$100,000. for a "new truck" would buy about 20,000 Gallons of Gas at $5. ..... Assuming you got 15 MPG, that would go 300,000 MILES to break even.......... Assuming you could charge your Wanna Be truck for FREE !!! and never buy BATTERIES !!......
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.
That doesn't sound like slowing down...
Two low-mileage Hummer EVs were auctioned online in April and May for $275,000 and $260,420...
Those prices make $6/gal gas look like a bargain....
No? Think about what you're saying....77,000 RESERVATIONS. Why can't they build 77,000? That's nothing. And when is it they think these will be available? While they're still parking not-quite-done vehicles in huge fields? Do you know somebody who's gotten their new vehicle with a temporary chip in it, with many of the features you PAID for not working, until the proper chip shows up? I do. So yeah, you might say well they don't have the facilities yet to produce the electric trucks, BUT THEY AIN'T BUILDING THE CONVENTIONAL ONES FULLY EITHER!
At work, we are currently buying up the last supplies of an extremely important alloy. It will get us through a few months. The next stock is out about 10-12 months from now. I can't go in to what all we do here. I know people assume I'm a peon at a podunk company, and that's fine. Incorrect, but fine. We do have a few customers you may have heard of: GM, Ford, Fiat-Chrysler, John Deere, Caterpillar, Toyota, and many many more. Just sayin', you don't have to believe me.
T-BONE, you won't get any argument out of me, I completely agree, this administration is the Carter days all over, only on steroids because it's being done on purpose.
Then was the TV noted tow test of the FORD EV against a GMC 6.2L gas engine powered Denali.
Ford EV rated for some 140-160 miles empty, reduced to 120 by the Internal processor for Tow, GM even with crappy fuel mileage was rated at 220miles tow, and then the challenge tow. GMC had 1/2 tank remaining and FORD needed recharge at 88 miles, ALMOST did not make a Charging station as was below 17% remaining battery. BOTH started off Full Tank Gas, Fresh Charge to 100%.
Great Choice EVs, can almost get a hour away from home to go play with.
I bought a new Chevy 2500 HD last July. Dealer I bought it from keeps calling me every time a new truck shows up at the dealership. He wants to know if I want to trade it in on a new one. I know a mechanic that works at that dealership. I asked why does he keep trying to get me to trade my truck for a newer one. They have to sell a new one for sticker price, but they can mark a used one up as much as someone is willing to pay. He claims they call all new car, truck purchaser's trying to get them to trade their vehicles in.
You only need to know 3 things to be a plumber;Crap rolls down hill,Hot is on the left and Don't bite your fingernails
1964 D-17 SIV 3 Pt.WF,1964 D-15 Ser II 3pt.WF ,1960 D-17 SI NF,1956 WD 45 WF.
I think this comes under the heading of more $ than brains. There are those that think it impresses someone to have the newest & latest of everything & don't care how the numbers work out. Ford, GM, Ram & Toyota love those folks as do the lenders. The only way it might work is if you can call a business expense, depreciate it like BTO's do on farm equipment. Assumes you have sufficient cash flow for your lender.
This whole electric vehicle dog and pony show is like watching a huge train crash about to happen and you can't do a thing about it except get out of the way and watch
NYSE: GM) reported that its sales in China, the largest market in the world, fell 35.5% in the second quarter to 484,200. China sales are absolutely critical to GM’s health and were a strong point until recently.
GM’s comment about July sales was not comforting. “In the meantime, GM is continuing its pivot to a platform innovator. Following the Cadillac LYRIQ, Ultium-based EVs from Buick and Chevrolet will make their debut in China in the second half of this year.” It is unclear what a “platform innovator” is.
GM’s stock has suffered horribly. From a 52-week high of $67.21, it has fallen to near $32. The company’s market value has lost almost $50 billion.
Despite constant comments about how its electric vehicle development makes progress, it remains very far behind market leader Tesla. Rival Ford has launched its F-150 Lightning. Ford has millions of F-150s on the road, which means the universe of possible buyers is huge.
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