R1T & R1S Updated Pricing, Configuration, Specs. Dual Motor Now Available

[davrow_R1T]

I canceled

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[Techtennisone]

Who is the head of Communications or Customer Experience that thought the way this increase was rolled out was a good idea and plan? For example, why would you send out the initial email blast and make folks guess how and if it impacts them BEFORE everyone’s configuration and price was updated and live on the website AND then because of that have to send out a second email to folks when their price is finally updated. Basically they sent 2 infuriating emails to some of us, only magnifying anger, disappointment, etc. An increase may have been an unavoidable necessity, but how it was done and without any hint beforehand that it may be a sizable increase was egregious and a mistake. I would hope RJ will speak up tomorrow and address preorder holders.

 

[Trekkie]

Well that was fast, all my configs updated to new price I'm pretty unwilling to pay. I'm going to sit on it for 24 hours, but at this point. I immediately canceled the R1S. Going to hold out for a minute on the R1T Max Pack.

Gonna see how the market reacts, if it tanks it, it'll get interesting, if it goes up, market wants the cash and they'll stick to it, and I"ll cancel the R1T as well.

 

[ja_kub_sz]

Yup they got me good!

2018 preorder... And a 15k price hike to my one order.

Good news everyone!

I equipped my R1T with a single motor, no wheels, or doors for that matter, and the "mini" battery option with factory aluminium paint finish.

The price of my R1T is now exactly the same .

Meanwhile.... RJ

 

[Matty J]

To me, what Rivian did by allowing a few to have the lower pricing is a slap in the face. Looks like we're also making up for some discounts employees received.

Exactly my frustration. Over a 1000 trucks have been sold at old prices mostly to employees while being subsidized by many of our early investments in Rivian through pre-orders for years, and stocks.

 

[taylor710ce]

I'm a 1st half 23'er here. 82k was my upper limit and now at 100k, I will unlikely follow through. I much rather Rivian get rid of amenities such as the first year comp package and trim destination centers into charging centers.

Can someone check my math and observations?
On the premise of 80k total reservations and average 16k price increase with same profit margins RIVN is asking customers to front another 1.28 Billion.

If a 100k vehicle / 16k price increase = Rivian is risking 1 out of 6.25 vehicles cancelled to break even?

 

[paariv]

We reserved the R1S the on the very first day they made reservations available... our price is still hiked $16K. I'm thinking this only applies to the R1Ts being delivered imminently.

This really rubs me the wrong way. When your ability to get the original pricing depends on: where you live, the paint you chose, your interior color, but not your order date, that isn't right. At the very least, they should honor original pricing for ALL LE orders, or raise the price for everyone. It is absolute horseshit to handle it this way, completely out of the blue.

This points to an operational fuckup. They meant to raise the price on everyone before they started real customer orders, but didn't quite get the prices raised in time. So they're in this situation. Well, they should do the right thing. But, given their track record, they won't.

I'm not canceling. But I will look for a decent alternative. And if I find one, I still won't cancel until I've driven for 6 days and 999 miles.

 

[rpmtexas]

 

[Iwantatesla]

Kind hard not to...going from a $71k SUV to the same at a cost of now $89k, and who knows how many more increases will be set before 1/4 of us get our cars? My issue is if Rivian didn't know that their cars were needing to sell for 25% more than they were, they're in the wrong business. Sad, only automaker that had a design that inspired me..

while I understand it’s hard, but you never know what the reaction will be to this if they see take rates plummet. Right now I think this is a matter of performance as a company than price elastisicity. You are still out the refundable $1,000 just wait and see.

 

[Otisbrick]

My delivery window was next month. I just got an email from Rivian and I can confirm as a LE holder this price increase affects is LE preorders too. I went from 78500 to 90500 a $12000 increase. Unfortunately, this prices me out of a beta test product. I’m out. Anyone know how to get out $1000 back?

 

[ufdlim]

I’m out. Looking forward to the SEC investigation because surely if they knew a price increase was coming, it affects their reservation numbers, which would need to adjust down their forecasts. But if your forecasts were the basis of your stock price… yikes. Even the informal polling here is more than 40% cancellations - in a forum of fans. The general population cancellation percentage? Probably more than 50%.

 

[Craigins]

I'm a 1st half 23'er here. 82k was my upper limit and now at 100k, I will unlikely follow through. I much rather Rivian get rid of amenities such as the first year comp package and trim destination centers into charging centers.

Can someone check my math and observations?
On the premise of 80k total reservations and average 16k price increase with same profit margins RIVN is asking customers to front another 1.28 Billion.

If a 100k vehicle / 16k price increase = Rivian is risking 1 out of 6.25 vehicles cancelled to break even?

So the issue with trying to do the math, at the old price point, they were probably selling at a loss. so that 16k increases is a lot more than 16k.

And think on the shorter term. They are probably aiming for 20k vehicles this year, max.

 

[Matty J]

We reserved the R1S the on the very first day they made reservations available... our price is still hiked $16K. I'm thinking this only applies to the R1Ts being delivered imminently.

Our price went up, first day R1S reservation too.

 

[Riviot]

@Administrator watching the web traffic today like...

 

[RVXIAN]

My quote still stands. We are paying for a 2018 vehicle.

Agreed prices reflected 2022, product remains largely unchanged since launch. It’s not even launch yet and already showing age. Lack of heat pump , lack of adaptive headlights (matrix) which are now legal. 1.7Kw onboard charger. I suspected a change in price a modest 5-10% to keep up with inflection. 20% is merely egregious. RIVIAN knew they had to increase prices. What’s agitating is they chose to do so before releasing to early customers. They also should have communicated other trim levels earlier for marketing on know what customers truly wanted rather than adjusting pricing and having customers reevaluate builds on what’s most popular. Who knows maybe most people would have ordered Dual motor Large pack. Their business model now has suffered. They should have started with the most expensive while ramping up and moving down to increase volume and reduce overhead and exposure. You F’ed up Rivian. Time to cop a 4680 Model Y performance and wait for a Cybertruck ?

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