The Hummer Returns as an EV
We’ve been anxiously awaiting the HUMMER EV pickup reveal…and it seems buyers were too, with Edition One reservations selling out in minutes. All reservations for the 2022 GMC HUMMER Edition One were claimed within 10 minutes of the reveal. That means customers without a reservation may be stuck waiting.
Production on the edition one is slated to start in late 2021 at General Motors’ Detroit-Hamtramck Assembly Center, which the company just renamed “Factory ZERO” and will be entirely dedicated to building EVs. The Edition One will sell for $112,595 with lower trim levels rolling out from Fall 2022 to Spring 2024.
That Hummer price could give anyone sticker shock and when looking to buy an electric vehicle, it’s usually the purchase price that has people pumping the brakes, but a new study shows that EV owners actually come out on top.
Consumer Reports looked at total ownership cost…things like purchase price, fueling costs, and maintenance expenses. The study found that savings over the life of the EV range from $6,000 to $10,000.
When it comes to fueling, Consumer Reports found that the typical EV owner who does most of their charging at home can save anywhere from $800 to $1,000 a year, compared to its gasoline powered counterpart. and big savings come in with maintenance and repair too. With regular fluid changes and more mechanically complex workings under the hood of a gas engine vehicle, an EV owner can save an average of $4,600 over their vehicle’s lifetime.
Right now, EVs and plug-in hybrids only account for about 2% of new car sales, but with falling battery prices, and savings like these, that number is projected to climb anywhere from 8% to 25% of the new car market by 2030.
The SUV craze continues and claims another sedan, this time over at Jaguar. 2020 will be the final year in the U.S. for their entry level Jaguar XE sedan. The automaker says today in the U.S., 66% of buyers in the luxury segment want SUVs, so they’ve had to make changes to their 2021 lineup. Jaguar has refreshed their XF sedan for those buyers who are still steering clear of SUV’s. The compact XE will remain on sale in Europe and China.
And that does it for this week’s Motor News!