First Electric GMC Sierra Trucks Sold Out in Hours

Were you tempted by the idea of a six-figure all-electric pickup when GMC unveiled its 2024 Sierra EV last Thursday? We hope you acted on the urge quickly. The automaker has now confirmed that the first batch of reservations sold out in just a few hours. Reservations for the electric truck were made via a refundable $100 deposit.

By early Friday morning, customers visiting GMC’s website were invited to join a waitlist.

That first batch was for the Sierra EV Denali Edition 1, with a price tag of $107,000 and a full suite of luxury features including the latest generation of GM’s Super Cruise hands-free highway driving assist. It can tow a trailer and change lanes on its own on 400,000 miles of pre-mapped highways in the U.S. and Canada.

It’s not clear how many Edition 1 models GMC plans to build. Duncan Aldred, global vice president of Buick and GMC, told trade publication Automotive News that the company would build less than 10,000 of them.

Later models will cost less. They include, AN says, an off-road-oriented AT4 and an Elevation model with a “starting sticker price of around $50,000.”

The Sierra EV Denali Edition 1 gets up to 754 horsepower from a pair of electric motors. Less costly models will likely be less powerful. But they may still post impressive numbers. The most affordable version of the GMC’s sibling, the 2024 Chevy Silverado EV, will reportedly offer 510 horsepower. The two trucks share many parts and, likely, many specifications.

The speed of the sell-out reportedly shocked company leaders. Aldred told AN, “A few years ago, when we were planning Hummer, the amount of vehicles sold over $100,000 in the entire industry was not that many. Now, that has radically changed in the last three years.”

The average new car sold for $48,094 in September – nearly $3,000 higher than one year ago. Much of the price increase comes thanks to an increasing taste for luxury cars, which made up 18% of the new vehicles Americans bought last month – a near-record.