- The Chevy Bolt EV vs. the GMC Hummer EV
- The Chevy Bolt EV and GMC Hummer EV have high residual values
- Why is residual value important when buying a car?
Electric vehicles come in all shapes and sizes, but the Chevrolet Bolt EV is one of the smallest. Still, it packs a peppy powertrain and one of the most affordable price points among EVs. On the other end of the spectrum is the GMC Hummer EV. This beast boasts incredible speed and unique features like crab walking. Despite their stark differences, these two vehicles have more in common than all-electric powertrains.
The Chevy Bolt EV vs. the GMC Hummer EV
2023 Chevy Bolt EV and 2024 GMC Hummer EV | General Motors
The Chevy Bolt EV is a compact hatchback making 200 hp and 266 lb-ft from its single-motor setup. It reportedly reaches 60 mph in 6.5 seconds and has regenerative braking. This EV is available only with a front-wheel drivetrain.
You can drive the Chevy Bolt EV for 259 miles on a full charge. When hooked up to a Level 2 home charging station, it takes seven hours to replenish the battery completely.
The standard Chevy Bolt EV provides five cloth seats, with the option to add leather trim on the 2LT model. Though the Bolt doesn’t come with a frunk, its cargo area offers over 16 cubic feet of storage behind the rear seats. There’s also adequate legroom for everyone, even in the second row.
Both Bolt EV trims include wireless smartphone integration and advanced safety features. The Bolt EV 1LT starts at $25,600, and the 2LT retails for as little as $29,795.
For perspective, the GM EV Hummer, which weighs 9,023 pounds, with the 350mi battery accounting for 2,923 lbs! https://t.co/QgY9jqudVO.
— Ed Carson (@IBD_ECarson) December 4, 2022
In contrast, Car and Driver estimates the base-model GMC Hummer EV will retail for around $86,645. This model should harness 625 hp, but it won’t come out for another year or two.
For now, you can buy only the First Edition model, which carries an MSRP of $108,700. However, reservations sold out quickly, so you might have to pay extra if you can find one secondhand. These models have three brawny electronic motors generating 1,000 hp and 1,200 lb-ft of torque.
C/D found that the Hummer EV needs only 3.3 seconds to reach 60 mph. It also has standard all-wheel drive and 16 in of ground clearance for confident adventures on the trail. The Hummer EV pickup can haul 1,300 pounds of cargo in its five-foot bed.
This electric pickup can tow only 7,500 pounds, and C/D found that doing so drastically decreases its efficiency. The First Edition model has 329 miles of range.
The Chevy Bolt EV and GMC Hummer EV have high residual values
Both the GMC Hummer EV and Chevy Bolt EV won residual value awards. J.D. Power determines the winners by comparing the values to each model’s rivals. It also considers each brand’s overall performance in the current market and the used model’s asking price.
The Chevy Bolt EV retains the most value of any mass-market electric car. And the GMC Hummer EV took home the Residual Value Award in the Premium Electric category.
Why is residual value important when buying a car?
Related
Even if the car you buy is your dream make and model, always be prepared for the possibility of parting with it. If you’re in a financial bind, selling your vehicle can help you get back on your feet.
Other times, drivers are not as happy with the vehicle as they had imagined. Whatever your situation, you won’t lose much money when reselling either EV. In the GMC Hummer EV’s case, you might even sell it for more than you paid.
Keyword: What Do the Chevy Bolt EV and GMC Hummer EV Have in Common?