Demand for the GMC Hummer EV is running high, and as such, GM is aiming to prevent new owners from quickly reselling their vehicle for a quick profit by limiting warranty transfers until after a set ownership period. Now, GM Authority has learned that GM will reduce this ownership period from 12 months to 6 months.
As GM Authority covered this past July, GM hopes to prevent owners from quickly reselling their new GMC Hummer EV at greatly inflated prices (a practice more commonly known as “flipping”) by limiting the transferability of certain warranties until after a set ownership period. In addition, new owners that do end up flipping their vehicles will also be prevented from placing a future sold order or reservation for another high-demand vehicle. Notably, this same strategy is also in place for high-demand vehicles like the 2023 Cadillac Escalade-V and 2023 Chevy Corvette Z06. GM is also offering new C8 Chevy Corvette Z06 owners a bonus of 500,000 My Chevrolet Rewards points, a $5,000 value, for retaining ownership of their vehicle for the required period of time.
However, per previous GM Authority coverage, GM has lowered the ownership period requirement from 12 months to 6 months for the 2023 Cadillac Escalade-V and the 2023 Corvette Z06. Now, GM Authority has learned that The General is doing the same for the GMC Hummer EV. As such, new owners will be able to sell their GMC Hummer EV, 2023 Corvette Z06 or 2023 Cadillac Escalade-V after only 6 months of ownership without any repercussions from GM.
Back in March, GM Authority reported on a number of vehicle listings offering “brand-new” units of the GMC Hummer EV at greatly inflated prices. For example, one listing offered a new Edition 1 model for $325,000, while another offered a new Edition 1 model for $310,000, although it’s possible the two listings were for the same vehicle, albeit posted in different places.
GMC Hummer EV production began late last year at the GM Factory Zero plant in Michigan. Output is sourced from GM Ultium batteries and GM Ultium drive motors, with the Edition 1 model producing 1,000 horsepower. Under the skin, the GMC Hummer EV rides on the GM BT1 platform.