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The Hummer EV Edition 1 is sold out and it'll be years before other trims arrive

When the 2022 GMC Hummer EV was revealed, GMC noted that there would be lower trims available. The company has since provided a few more details on those lower trims, which is helpful to know now that the only trim on sale next year, the Edition 1, was sold out in a scant 10 minutes. However, it's going to be a long time before they're all available.  The entry-level GMC Hummer EV is the EV2. This is the model that will start at $79,995, and unlike the Edition 1, it gets just two motors, one for each end of the truck, each with electronically locking differentials. Output is down to 625 horsepower and a torque rating of 7,400 pound-feet. Note that this and all other reported torque numbers are after the torque multiplication by the single-speed transmissions, hence the extremely high numbers. The company hasn't given torque numbers at the motors, which would be more comparable to other electric cars. Range is also reduced to 250 miles, probably due to a smaller battery pack. Fast charging is also restricted to 400-volt charging, so it won't be as fast as the higher trim models. The removable roof panels, retractable rear window, MultiPro tailgate, Super Cruise and 35-inch tires are standard. This model only gets fixed steel suspension and two-wheel steering. The EV2 will be the last of the trim levels to go on sale, with a target of spring 2024. Yes, as in 3.5 years from now.  The next level is the EV2X, which will be available a year earlier in the spring of 2023. It gets the same powertrain as the EV2, but adds 800-volt fast charging and a 300-mile range. It also gets the adaptive air suspension and four-wheel steering, plus the associated party tricks of Crab Mode and Extract Mode. This model costs $89,995. The earliest Hummer EV that isn't an Edition 1 and therefore not yet sold out will be the EV3X, the entry-level three-motor model. It goes on sale in the fall of 2022 at a price of $99,995. It's not quite as potent as the Edition 1, though, with an output of 800 horsepower and 9,500 pound-feet of torque. It also lacks the "Watts to Freedom (WTF)" launch control feature. But it does get torque-vectoring with the dual rear motors, which can also lock their speeds to be equal like with the mechanical locking differential at the front. The EV3X's range is 300 miles like the EV2X.  As for the Edition 1, it started $112,595 before it was sold out. Customers are to expect them in fall 2021.

GM raises 2023 guidance on strong sales, higher profits

General Motors beat first-quarter profit estimates and raised its full-year earnings and cash-flow guidance after vehicle demand at the start of the year surpassed expectations. Its shares rose in premarket trading. GM made $2.21 a share in adjusted profit in the first quarter, compared to a consensus forecast of $1.72 a share. Revenue rose 11% to $39.99 billion, it said Tuesday, which was more than the $39.24 billion analysts expected. The stronger results stem from rising sales in the US, even in the face of higher interest rates and inflation. GM executives said demand was strong enough to revise 2023 guidance upward, boosting profit estimates for the year by $500 million to between $11 billion and $13 billion. “We did it with strong production and inventory discipline and consistent pricing,” GM Chief Financial Officer Paul Jacobson said on a call with journalists. “All in all, weÂ’re feeling confident about 2023.” The Detroit automaker raised per-share full-year guidance to between $6.35 and $7.35, up from $6 to $7 a share, and said free cash flow would also increase by $500 million to a range of $5.5 billion to $7.5 billion.  GMÂ’s shares pared a gain of as much as 4.4% before the start of regular trading Tuesday, rising 3.5% to $35.50 as of 6:55 a.m. in New York. The stock was up 1.9% for the year as of the close on Monday.  North American Strength The automakerÂ’s sales were particularly strong in North America, where first-quarter earnings rose before interest and taxes rose to $3.6 billion. Vehicle sales rose 18% to 707,000 in the region. Jacobson said the company originally expected to sell 15 million vehicles in the US this year, slightly less than the 15.5 million annualized rate automakers foresaw in the first quarter. North American demand was enough to offset a weak performance in China, GMÂ’s second-largest market. The automaker continues to struggle in the country, where its vehicle sales fell 25% to 462,000 vehicles in the quarter. Profits from its joint ventures in the market slumped 65% to $83 million.  The market has struggled overall in the wake of Covid-19 restrictions and foreign automakers have had to overcome a growing preference for Chinese brands by competing on price, squeezing profit margins. The situation in China probably wonÂ’t significantly improve until the second half of the year, according to Jacobson. GM remains on target to sell 150,000 electric vehicles this year, the CFO said.

2024 Chevrolet Silverado EV output jumps to 754 hp and 785 lb-ft

A couple of days ago, GMC unleashed its 2024 Sierra EV Denali Edition 1 pickup, the luxury truck division's version of the 2024 Chevrolet Silverado EV. As has been the case between Chevy and GMC for decades, GMC designers worked to put ample visual difference between the two pickups that share the similar underpinnings. Unlike what's been the historical case, GMC announced output figures for the Sierra EV well above those for the Silverado. Preliminary estimates for the battery-electric Sierra with the dual-motor powertrain are 754 horsepower and 785 pound-feet of torque. Chevy revealed the 2024 Silverado EV in January with 664 hp and 785 lb-ft in RST trim. We're not sure what happened after the GMC debut, but the Bowtie has updated the Silverado's output to match the GMC with 754 hp and 785 lb-ft. Chevy truck communications spokesperson Sean Szymkowski submitted a statement to various outlets explaining, "As we prepare for production of the Silverado EV, our engineering team has further refined the estimated performance specs for the 2024 Chevrolet Silverado EV RST First Edition. GM now estimates horsepower to be up to 754 and torque up to an estimated 785 lb-ft when Wide Open Watts mode is engaged." It's possible Chevrolet did so in order to forestall backlash about the disparity, or it's possible the automaker already planned to do so after the GMC dropped. On the ICE side, buyers have got used to powertrain parity, the Silverado and Sierra offering the same engines with the same outputs even with pricing about $3,600 apart on the respective top trims. No matter how the decision was made, the benefits redound to Silverado EV buyers. By the way, the "Wide Open Watts" reference refers to the driving mode required to extract these peak power figures. In the GMC Sierra EV, this is called Max Power Mode. We're still looking for clarity on the output figures in everyday driving modes, we believe those will be the same 510 hp and 615 lb-ft that's the maximum in the lower trim Silverado EV Work Truck.    With a year to wait before the Silverado RST EV reaches reservation holders, and with the Chevrolet Work Truck providing real-world feedback before the RST arrives, don't be surprised at more tweaks made to both the Silverado and Sierra EVs before they hit the market. Related video: GMC reveals the all-electric 2024 Sierra EV