GM Copies Tesla and Rivian But Risks Angering Consumers

The established automaker recently decided to maintain its profitability.

Like its competitors, the Detroit powerhouse must deal with supply chain interruptions.

The scarcity of chips and the rising costs of raw materials like nickel, but they had held off before responding.

Competitors like Tesla (TSLA) - Get Tesla Inc. Report have moved swiftly to protect their margins and avoid fully bearing the increased expenses of manufacturing their vehicles.

Additionally, both gasoline-powered and electric cars continue to be in high demand.

Order books for the automakers are filled. As a result, consumers have noticed a delay in receiving their vehicles. Both cars and pickup/trucks fall under this category.

The price of the GMC Hummer EV pickup, which is an electric version of GM's renowned Hummer truck, has finally increased as the company decides to follow its rivals.

According to GM, the price of the Hummer EV has gone up by $6,250 from June 18 and for all orders placed after that date. Before June 18, all orders remained unaffected.

The company thinks that by raising prices, it would be able to cover the increased expenses of raw materials and transportation.