Here’s why the Hummer H2 is rising in value
YouTuber Doug DeMuro once called the Hummer H2 “The most embarrassing vehicle you can drive on the roads today.” Its bold and brash image has received polarizing reviews since its debut in 2002. Its production did not last long as the Hummer brand fell victim to the recession in the late 2000s.
The sluggish economy combined with a sharp drop in sales caused General Motors to shut down production in 2010. Fast forward twelve years, and we find ourselves on the brink of another recession. However, this time the Hummer is making a comeback, under the ownership of General Engines.
The GMC Hummer EV creates such a buzz that first editions sell for nearly three times its list price. While all signs point to an all-electric future for the auto industry, it’s the gas-guzzling Hummer H2 that’s also seeing an uptick in value. Amid unprecedented fuel price hikes, the Hummer H2 is already becoming a collector’s item.
The Hummer H2 is an American icon
The H2 is derived from its big brother the Am General Humvee; otherwise known as the Hummer H1. The H2 was developed to mimic the look of its H1 predecessor while maintaining better on-road and off-road capability.
The Hummer H2 gives us a little taste of what our American veterans drove in the Persian Gulf desert. Since the pandemic, the square, off-road capable sport utility vehicle has become extremely sought after. More and more people have developed hobbies in landing, off-roading and camping in general.
The Hummer H2 rises in value with other off-road capable SUVs. However, the H2 is special because there will never be another SUV like it again. With its fuel economy barely hitting the double digits, the H2 is not a practical daily driver.
It also cannot fit in most parking spaces, nor meet the height clearance requirements inside most underground car parks. Nevertheless, enthusiasts will live with all of this because the H2 is built like a tank.
The off-road prowess of the Hummer H2
While everyone is adding lift kits and thirty-five inch tires to their rigs. The H2 is already stock with thirty-five-inch BF Goodrich off-roaders and 12-inch ground clearance. Not to mention an approach angle of forty-two degrees and a departure angle of thirty-seven degrees. The H2 is a factory option with rock sliders and a knob that adjusts the rear air suspension; adding an extra two inches of lift.
The H2 features advanced traction control, independent front suspension, solid rear axle, two-speed transfer case and locking rear differential. While many enthusiasts pour thousands of dollars into their rigs to make them the ultimate off-roader; the H2 can crash into any terrain in its stock bone stock configuration. Its disadvantages on the trail are obvious, it is heavy and wide.
With a curb weight of over 6600 pounds and a width that requires front and rear clearance lights; the H2 has more in common with an eighteen-wheeler than with a family SUV. But that’s the Hummer’s biggest draw, the H2 makes you feel safe sitting above everyone on the road.
Its tough, sturdy frame floats on the highway and smashes on the trail. The H2 is special because it brings out the kid in all of us with its Tonka truck looks and go-anywhere ability.
The Hummer H2 is a cultural icon
Like the Cadillac Escalade of the same era, the Hummer H2 was purchased by many celebrities. In its heyday, the H2 was glorified on television by the famous actors and musicians who owned one. As a result, people have started yearning to own one themselves because they see their favorite influencers leading them on TV.
In the early to mid-2000s, there weren’t many SUVs that kept the same looks as the Hummer H2 and Cadillac Escalade. For this reason, these two automobiles have become cultural icons. Youtuber Tyler Hoover of Hoovie’s Garage began over two years ago that these two vehicles would become very valuable one day.
And even to Doug DeMuro’s dismay, Tyler Hoover went on to back up his bold prediction by providing valid reasons why the Hummer and Escalade will rise in value. Besides its cultural significance and ambition, another contributing factor to the H2’s popularity is its reliable engine.
Tyler states in another video that the Vortec 6.0-liter V8 is “General Motors’ most invincible engine they’ve ever made.” It’s not uncommon to see these LS-based LQ4 engines achieve over three hundred thousand miles.
The Hummer H2 is already a cult classic
Automakers know they can take advantage of the nostalgia factor. Ford has done exceptionally well in recreating the Bronco. Now GM is rebranding the Hummer with an all-new electric version. Marketing the Hummer EV to off-road enthusiasts and early adopters of electrification is a brilliant idea. Resulting in a huge amount of buzz surrounding the new GMC Hummer EV.
There is no doubt that the Hummer H2 benefits from the sales of the new GMC Hummer EV. But the H2 also appeals to all Millennials who yearned to own one when they were back in high school. Now these Millennials have grown up and could afford it, leading to increased values.
Recent data points on auction sites like Bring a Trailer showed sales of low-mileage examples of the H2 exceeding $70,000. That’s more than the H2 would cost new. H2 may not have been a popular choice among environmentalists. But with the help of Hummer’s tough yet eco-friendly new branding; the H2 is cool again.
Sources: General Motors, AM General, Bring a Trailer