Electric Vehicle Market Crashes: Hummer EV Price Cuts
Submitted by MAGA
Posted 6 hours ago
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The electric vehicle market continues to falter as automakers grapple with skyrocketing costs and dwindling demand.
The latest evidence of this decline comes from GMC’s aggressive decision to slash prices on its 2024 Hummer EVs by an astonishing $40,000.
This move is a significant indicator of the fragility of the electric vehicle sector, which has been touted by some as the future of American transportation.
The Hummer EV, once celebrated as a symbol of green innovation, is now struggling to attract buyers.
At dealerships across the country, the price reductions highlight a worrying trend: substantial markdowns to move inventory that is simply not selling.
For instance, at Expressway GMC in Mount Vernon, Indiana, a 2024 Hummer EV SUV 3X Omega Limited Edition has been marked down from $142,330 to $99,780.
Similarly, in Texas, another model has seen a price cut from $140,295 to $99,647.
These aren’t just minor adjustments; they represent a desperate attempt to clear bloated lots filled with unsold electric vehicles.
Sales data reveals a stark reality for GMC.
Though there was a modest increase in sales—up 48.7% from last year—figures remain far below expectations.
In fact, nearly 285 leftover 2024 models sit unsold in dealer lots, including the high-end Omega Editions that have failed to entice buyers.
As consumers express their clear preference for traditional gas-powered vehicles, the industry's reliance on government subsidies and mandates becomes increasingly apparent.
Ford's recent scrapping of a $7,500 EV lease credit extension further demonstrates the weaknesses underlying the electric vehicle market.
The significant discounts required to sell these vehicles could have dire implications for American manufacturing jobs and supply chains.
The once-promising transition to electric vehicles threatens not only to limit consumer choice but also risks upending the livelihoods of workers in manufacturing hubs from Detroit to Texas.
The broader lesson from this electric vehicle debacle is essential for anyone concerned about the American economy.
It becomes clear that the push towards electric vehicles, driven more by government mandates than genuine consumer demand, is unsustainable.
Instead of forcing a shift to EVs, a more prudent approach would involve allowing market forces to guide innovation and production.
Successful automotive production has always thrived on listening to the needs and wants of the American people.
As discounts continue to escalate, it is a powerful reminder that consumers favor practicality and reliability over flashy technologies that don’t meet their day-to-day needs.
If this trend persists, it could mark a downfall for a sector that many hoped would lead the charge into a greener future while undermining the very fabric of American manufacturing.
Sources:
basedunderground.com
theepochtimes.com
outkick.com
The electric vehicle market continues to falter as automakers grapple with skyrocketing costs and dwindling demand.
The latest evidence of this decline comes from GMC’s aggressive decision to slash prices on its 2024 Hummer EVs by an astonishing $40,000.
This move is a significant indicator of the fragility of the electric vehicle sector, which has been touted by some as the future of American transportation.
The Hummer EV, once celebrated as a symbol of green innovation, is now struggling to attract buyers.
At dealerships across the country, the price reductions highlight a worrying trend: substantial markdowns to move inventory that is simply not selling.
For instance, at Expressway GMC in Mount Vernon, Indiana, a 2024 Hummer EV SUV 3X Omega Limited Edition has been marked down from $142,330 to $99,780.
Similarly, in Texas, another model has seen a price cut from $140,295 to $99,647.
These aren’t just minor adjustments; they represent a desperate attempt to clear bloated lots filled with unsold electric vehicles.
Sales data reveals a stark reality for GMC.
Though there was a modest increase in sales—up 48.7% from last year—figures remain far below expectations.
In fact, nearly 285 leftover 2024 models sit unsold in dealer lots, including the high-end Omega Editions that have failed to entice buyers.
As consumers express their clear preference for traditional gas-powered vehicles, the industry's reliance on government subsidies and mandates becomes increasingly apparent.
Ford's recent scrapping of a $7,500 EV lease credit extension further demonstrates the weaknesses underlying the electric vehicle market.
The significant discounts required to sell these vehicles could have dire implications for American manufacturing jobs and supply chains.
The once-promising transition to electric vehicles threatens not only to limit consumer choice but also risks upending the livelihoods of workers in manufacturing hubs from Detroit to Texas.
The broader lesson from this electric vehicle debacle is essential for anyone concerned about the American economy.
It becomes clear that the push towards electric vehicles, driven more by government mandates than genuine consumer demand, is unsustainable.
Instead of forcing a shift to EVs, a more prudent approach would involve allowing market forces to guide innovation and production.
Successful automotive production has always thrived on listening to the needs and wants of the American people.
As discounts continue to escalate, it is a powerful reminder that consumers favor practicality and reliability over flashy technologies that don’t meet their day-to-day needs.
If this trend persists, it could mark a downfall for a sector that many hoped would lead the charge into a greener future while undermining the very fabric of American manufacturing.
Sources:
basedunderground.com
theepochtimes.com
outkick.com
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