Quick flips? GMC Hummer and Rivian Spike on auction site

Used trucks aren’t supposed to double in value once they’ve driven a few miles. But the Rivian R1T and GMC Hummer EV trucks are no ordinary trucks.

Hot on the heels of a Rivian R1T that sold earlier this month for $138,000 with 103 miles on the odometer last week at Cars & Bids, another Rivian R1T is on the auction site. This one is already bid at $121,420 with six days remaining.

The GMC Hummer EV truck on the site has been offered for up to $163,786 with three days remaining. Its base price was around $110,000. It’s the first Hummer EV to hit the auction site.

Are the owners of these hard-to-hold trucks just flipping these mega trucks for profit? Perhaps. But with increases in value like this, can you blame them?

By comparison, used Teslas on the site sell for as little as $19,750, despite being a 2013 Model S 60. A 2021 Model S Plaid with 6,200 miles recently sold for $137,000.

GMC Electric Hummer | Cars and Auctions

The listed GMC Hummer EV truck has been driven a lot. It shows 4,300 miles on the odometer. The Hummer saw its value increase by almost 49%. Its sticker price was $110,295. Of course, that’s before any dealer markups.

Either way, 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 and Auctions

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

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

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

Electric vehicles are hot right now

A 2022 Ford F-150 Lightning in Red navigates rough terrain like an electric truck.

Ford F-150 Lightning 2022 | Ford

While prices for “regular” used cars appear to be stabilizing, electric vehicles are skyrocketing. Blame gas prices, blame the environment, or blame sunspots. For a million reasons, electric vehicles make more sense to a lot more people.

Both of these trucks are also incredibly fast.

Ford announces a record number of reservations for its F-150 Lightning EV truck. Chevy is also taking orders for its next Silverado EV.

The shocking (pun intended) rise in electric vehicle prices is not unexpected, however. Legislation has made it increasingly difficult to manufacture a powerful car that meets strict emission and fuel economy standards. Some of the fastest and fastest cars and now trucks on the road right now are electric vehicles. The Rivian R1T hits 60 miles per hour in about three seconds. The same goes for the GMC Hummer EV. While the Hummer weighs 9,000 pounds, it has 1,100 horsepower and can tow 8,000 pounds.

Electric vehicles just make more sense to a lot more people right now.

RELATED: The 2022 GMC Hummer EV Has a Shocking Price