Here's How Much A 2022 GMC Hummer EV Has Depreciated In 4 Years

For used car buyers, finding a vehicle with substantial depreciation can feel like hitting the lottery. When it comes to the 2022 GMC Hummer EV, the plunge in value for this over-the-top electric pickup is about half over four years. Let's put that number in perspective. The average vehicle loses about 42% of its original value over five years, while the typical EV depreciates by more than 57% over the same period. Meanwhile, pickups generally depreciate by 34% over five years. So, no matter how you slice it, the Hummer EV's steep four-year depreciation may be bad news for original owners but something of a lottery win for used-car buyers.

Perhaps that adage about the bigger they are, the harder they fall comes into play here. In an early on-road sighting in 2022, the Hummer EV's debut year, Jalopnik called GMC's gasless beast "huge in real-world traffic." That size carries over to big savings in the resale market. To get a better idea of what this means for today's buyers, we'll look at depreciation estimates from Kelley Blue Book (KBB) and iSeeCars. We'll also include current market pricing from Autotrader (hint: prices are about $50,000 less than what owners first paid).

If you're curious about four-year depreciation for the Hummer EV SUV, you'll need to wait a few years because that version didn't come out until 2024. In the meantime, we'll look at what happened to some other electric trucks that were available in 2022, including the Ford F-150 Lightning and the Rivian R1T. All MSRPs mentioned here include factory destination charges.

Not only did the Hummer EV's size raise eyebrows when it launched, but so did its $110,295 MSRP for the Edition 1 version (the sole trim for 2022). According to KBB, that same vehicle is now worth $58,400, which works out to a four-year depreciation rate of 47.1%. Meanwhile, iSeeCars estimates that the 2022 Hummer EV loses 55% of its original value; that's a more aggressive forecast that would price out a used one at about $49,600. The reality is closer to KBB's projection.

Based on examples from the 2022 model year with no accidents or title brands and average or better mileage (roughly 54,000 miles over four years), Autotrader listings include options priced around $57,000, the equivalent of 48.3% depreciation. If you're wondering what that amount gets you in the form of a new electric pickup, the closest answer is a 2026 Chevrolet Silverado EV, which starts at $55,395, but the future of battery-powered General Motors trucks doesn't look too bright.

For the 2022 model year, all-electric truck options were limited, but they started with the Rivian R1T, the first mass-produced battery-powered pickup to hit the market. At a base price of $74,500 in its debut year, the R1T seemed like a bargain compared to the Hummer EV's six-figure status. Today, KBB says that this Rivian R1T has depreciated to $51,100, a 31.4% loss in value over four years, which is far less than the Hummer EV. However, real-world pricing is closer to $50,000 for 2022 model-year examples (with average or better mileage and no adverse history). This even includes the Launch Edition trim, which originally stickered at $86,500. In this case, depreciation could reach 40% or higher.

With Ford giving the all-electric F-150 Lightning the axe, shoppers wanting a gasless Blue Oval truck are stuck buying used. For its 2022 launch year, the cheapest trim, the base Pro grade, had an MSRP of $41,769, and KBB reports a current resale value of $33,100, or 20.8% depreciation. However, dealer prices are higher, ranging from $35,000 to $38,000 (some with mileage well below average). Based on these numbers, depreciation falls substantially to about 9% to 16%, making the 2022 F-150 Lightning far less of a used truck bargain (percentage-wise) than the Hummer EV or R1T.