Supply and Demand 101: Reselling Well Started EV Trucks Above MSRP in the Open Market

As new, larger and more powerful electric vehicles make their way into consumer driveways, their deliveries are still very small in number compared to other types of electric vehicles. However, the demand for electric trucks has increased with many manufacturers’ models being booked in the next couple of years. As a result, some of the first customers of EV trucks are taking advantage of this demand and are reselling them for a profit, some of them more than double what they paid for.

When EVs first started hitting the mainstream more than a decade ago, there were two options: expensive sports cars like the Tesla Roadster or Model S, or less expensive small sedans like the Nissan LEAF.

Over the years, crossovers and full-size SUVs debuted, offering ample performance and range, along with more cargo space. Until last year, there was one part that hadn’t been successfully hacked – the all-electric truck.

Rivian was the first automaker to achieve this feat by delivering the R1T Pickup last fall, but the public was already anticipating a slew of other competitors like the Ford F-150 Lightning, GMC Hummer EV and the long-promised Tesla Cybertruck.

Since the first deliveries of the launch version of the R1T, some other trucks have also begun delivering to consumers. However, demand still far exceeds the number of electric vehicles available. Those consumers lucky (and wealthy enough) to get early versions of these electric trucks, resell them for a profit…some over $100,000.

EV resale
Current Rivian R1T Models for Sale on Ebay Motors

Private owners cash on demand by reselling EV trucks

If you have followed Electric Over the past year or so, you’ve probably read news of at least one EV maker reporting massive bookings for EV trucks. Ford had received more than 200,000 reservations by last December and shut down its system in favor of opening its order books to serious buyers.

To keep up with demand, the American automaker doubled production capacity for the F-150 Lightning, aiming to produce 600,000 EVs annually by 2024. Around the same time, GMC introduced the first “Edition 1” version of the Hummer EV Pickup.

This will be the only Hummer EV offered by GMC in 2021, but the General Motors subsidiary recently announced the delivery of 99 more Hummers in the first quarter of 2022, assuring the public that more is on the way. With only 100 Hummer EV pickups left in the wild, it’s no wonder people are willing to pay well beyond the MSRP to get behind the wheel.

Recently, one savvy owner was willing to part with the Edition 1 Hummer EV, and resell it at the auto auction site. Bring a trailer. With no set reserve price, the Hummer EV ended up reselling for $275,000. That’s about $165,000 on MSRP startup.

If it was anyone other than Hummer’s first customer who paid $2.5 million, they made a huge profit by reselling their electric truck. Other Hummer owners can do the same after they receive delivery of the electric vehicle, with General Motors reporting more than 65,000 reservations so far.

As you can see from the images above, Launch Edition versions of the Rivian R1T are selling on ebay Motors for twice what they were at their original MSRP ($75,000). Whether someone paid that much money is yet to be seen, but at least two R1T owners see value in reselling their electric vehicles while supply remains scarce.

Now that deliveries of the Ford F-150 Lightning have begun, it’s fair to assume we’ll see some vendors pop up across the US — the same for the Cybertruck in the future. Older automakers with sales models see these businesses try to slip a piece of the profit pie as well, demanding outrageous fees despite their contracts with automakers that prohibit such behavior.

The average consumer wouldn’t pay $100,000+ on an MSRP to get behind the wheel of a coveted electric car early, but the resale technology can be profitable in some cases. At the very least, this market behavior provides documented evidence that demand for EV trucks exists and is strong, whether priced by the MSRP or resold.

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