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Used trucks aren’t supposed to double in value once they have some miles on them. But the Rivian R1T and GMC Hummer EV truck aren’t regular trucks.

On the heels of a Rivian R1T selling earlier this month for $138,000 with 103 miles on the clock last week at Cars & Bids, another Rivian R1T is on the auction website. Already this one is bid to $121,420 with six days left.

The GMC Hummer EV Truck on the site has been bid up to $163,786 with three days left. It’s base price was about $110,000. This is the first Hummer EV to hit the auction site.

Are owners of these too-hold-to-hold trucks simply flipping these mega trucks for a profit? Maybe. But with increases in value like this, can you blame them?

In comparison, used Teslas on the site are selling for as low as $19,750, though that’s a 2013 Model S 60. A 2021 Model S Plaid with 6,200 miles recently sold for $137,000.

GMC Hummer EV | Cars & Bids

The GMC Hummer EV Truck listed has been driven a lot. It has 4,300 miles on the clock. The Hummer ha seen a nearly 49% increase in value. It’s sticker price was $110,295. Of course that’s before any dealer markups.

Regardless, the Hummer has all the goodies, including CrabWalk, Super Cruise, power frunk, power-retractable tonneau, and several unopened boxes of Hummer goodies.

It’s the first GMC Hummer EV to hit Cars & Bids.

Rivian R1T for sale | Cars & Bids

The last Rivian R1T sold on the site was green. This one is blue. Beyond the color, the two look very similar.

The window sticker for this particular truck is included in the auction, and it shows that truck cost $76,575. No other used truck can boast a 59% increase in value. Used.

This particular truck has only two options, the Launch Edition package and the Rivian Blue exterior paint color. It has the large battery pack, 22-inch rims, and looks brand new. Well, it should, it only has 200 miles on the odometer.

EVs are hot right now

A 2022 Ford F-150 Lightning in red navigates a rugged terrain as an EV truck.
2022 Ford F-150 Lightning | Ford

While “regular” used car prices seem to be stabilizing, EVs are skyrocketing. Blame gas prices, blame the environment or blame sunspots. For a million reasons EVs are making more sense to lot more people.

Both of these trucks are also stupendously fast.

Ford is reporting record numbers of reservations for its F-150 Lightning EV truck. Chevy, too, is taking orders for its upcoming Silverado EV.

The shocking (pun intended) rise in prices for EVs isn’t unexpected, though. Legislation has made it harder and harder to make a powerful car that meets strict emissions and fuel economy standards. Some of the fastest, and quickest, cars and now trucks on the road right now are EVs. The Rivian R1T hits 60 miles per hour in about three seconds. So does the GMC Hummer EV. While the Hummer weights 9,000 pounds, it has 1,100 horsepower and can tow 8,000 pounds.

EVs are simply making more sense to a lot more people right now.

RELATED: The 2022 GMC Hummer EV Has a Shocking Price Tag

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Writer - Sedans & Coupes

Dan Mayfield

Dan joined MotorBiscuit in 2022 with over 20 years of experience in journalism and a lifelong passion for anything related to the automotive industry. He grew up wrenching a 1949 Ford pickup truck and an MGB with his dad, learning how not to wire a fuel pump (he inadvertently set the MGB on fire).

After earning a bachelor’s degree in photojournalism from the University of New Mexico, Dan has contributed his expertise to a range of local outlets, including the City of Albuquerque, US Eagle, and the Alliance for Local Economic Prosperity.

On weekends, Dan spends Saturdays enjoying “cars and coffee” chats and, on Sundays, he’s watching the Route 66 Cruise roll through town. He also races motorcycles, and it’s not unusual to find him elbows-deep in his latest cafe racer build.

Taking advantage of the local desert terrain, Dan also enjoys exploring and driving off-road in his trusty Ram Rebel pickup truck, which provides personal insights into his contributions to our Trucks, SUVs, & Crossovers coverage. Dan strives to give our readers unique information about the dynamic automotive market, reading anything that has to do with cars, trucks, bikes, 4X4s, and, in his words, “everything with a motor.”

Dan has earned a number of accolades from the Public Relations Society of America, and is a University of Southern California, Annenberg School of Communication and Journalism Fellow.