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

[Aonach]

I'm out too. I'm going to go with a good EV SUV, pocket the difference and buy some solar panels to boot. I'll be "preserving our planet" more than these con artists.

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[cc84]

...The owners told their very small staff that they were empowered to make any decisions necessary to make their customers happy....

.....I know the losses would be higher for Rivian, but I still think they'd have come out ahead.

You're exactly right. Rivian has now lost their best form of advertising, "by word of mouth".

Remember when Rivian first announced they began production and deliveries to "customers", back in Sept.? It was highly debated here, that employees could be customers too, even though Rivian had not officially acknowledged they were in fact employees. They hid that fact. That was a half-truth. At this point, I knew Rivian didn't value the customer first. This is another example of what you're seeing now.

FedEx got it right.

 

[BoisVert]

I cancelled mine a few months ago and the exchange was all through email and only took a day


I cancelled my R1S reservation several months ago, so obviously unrelated to the price changes. I currently have a Range Rover Sport SVR and love it so much I knew I was going to be disappointed with the Rivian despite the huge advantages of an EV. So I decided to hang onto my SVR as it's only 3 years old and wait for the new Sport which will be revealed in April (supposedly). Rumor is that an all electric Sport will be launching in 2024 and it's not that far away really. If only LR can source some good motors from Bosch or BMW but I'm skeptical. I've had 3 range rovers and all have been awesome so I know I'll be happy with the new one. I really wanted to love Rivian and get the R1S as it was looking very special to me. But it's just a bit rough around the edges design wise and I really dislike how this company operates. I agree with everyone here who thinks they should have honored the pre-order price and only start charging the new prices with new orders.

Exactly what I wanted to hear.
New RRS is supposed to have the hybrid BMW engine from the X5/7-Series (used in RR as well) so that would be idea for me. Been terrified of LR products due to reliability issues so I’m hoping electronics/mechanical with the BMW partnership improves that.

Been owning BMWs since 2005 and can attest to zero major issues since then. LR terrifies me.

 

[Spiffster]

I will say this, they made billions on the IPO, and I dont know how many pre-orders are launch edition but lets say 30k * 15k = $450M or 0.08% of current market cap. Pretty shitty way to treat the original investors (preorder customers) that got you to your fancy IPO. No way they would have seen an IPO that big without each and every one of us hyping the shit out of RIVN. As I said, I still think its a decent value, but damn, this really didnt have to happen and RIVN will see a drop in sp much higher than that.

 

[E.S.]

looking to be out out change to Max and wait until ...

if by Max you mean Max battery pack. This I definitely want to wait. Not due to the price hike, but with the changes in tech happening in the next several years, I want to see what these graphene and solid state batteries finally do and how Rivian plans to integrate them into their product.

 

[RivianDeac]

Basic Supply and Demand

Rivian will not produce a truck, SUV or van without a ready and waiting buyer for at least the next 3 years. By then this small group of disgruntled (fully refundable) early deposters will have forgotten or jumped back in. There is simply nothing like it coming anytime soon, particularly the SUV.

Rivian in 2020 was a bargain, now in 2022 its a fair price. Of course I am disappointed not grabbing a sweet discounted bargain truck. But someone please take a look around and show me something comparable.

 

[sacramentoelectric]

My frustration as a stockholder is that rivian invested heavily in building a brand that was interested in a relationship with its customers (a good smart thing to invest in). Their prospectus talks about making more from monthly memberships and things that are dependent upon good will than they do on the sale of the vehicle. I fear they just burned all the goodwill they worked so hard to build, and they burned it with the most valuable customers who have shown they want that relationship.

If you assume 70k reservations, maybe you lose half, half stick with you and pay the extra $15k on average, that's about $500 million. Lots of money, but after pulling in 20x that in their IPO, if I were CEO, I'd eat that cost to buy the goodwill, brand positivity, word of mouth, etc. I fear Rivian just made their biggest error so far, and I say that as a stockholder more than a customer.

I suspect that's a very optimistic revenue projection from the price increase both from the perspective of cancelations and average transaction price. I think the reason Rivian is burning everyone who preordered is that they have come to terms (as has Lucid) that they can't ramp production nearly as fast as they thought they could and holding onto preorders doesn't really matter if you can only make a thousand vehicles a month. Like Lucid, I expect Rivian will announce that they are cutting their production targets. That's the only way this makes sense. The revenue isn't enough to jeopardize their, "handshake with the world and the first step in building a relationship with our customers. -RJ" At the same time they are cutting production projections, they want to push people away from the early run of low margin quad motor variants that depend on expensive third party Bosch parts to dual motor versions they will build themselves in 2024 when they hope they can finally scale up.

If Rivian knows that they are going to be lucky to build 12k vehicles this year, you might as well torch your preorderers because very few of them are going to get their vehicles anytime s00n anyway. That vehicle you preordered in 2019 is probably getting delivered in 2023 even after all the preorder cancelations. If you order today, say hello to 2H 2024. With such low production numbers, these vehicles will be beyond niche so you might as well raise the prices a ton since there will still be a thousand people a month who don't care. I do worry that by 2025 when Rivian might finally be opening a new factory and producing these extremely expensive SUVs and trucks in volume, there will be plenty of competitors to choose from who aren't selling designs and tech from 2018. In that case, maybe they just drop the consumer side and concentrate on van sales. If Rivian is having this much trouble after all this time building just these two very similar vehicles, I can't say I'm optimistic they will get to their Jeep competitor in time to matter.

If I'm wrong and they aren't cutting production, I'm stumped. To give no consideration at all to even Lauch Edition preorders is terrible for their brand. As long as people who preordered got some discount, a lot of this would blow over but to treat people who ordered years ago like this is rotten. I'd like to see the company succeed but this looks really bad.

 

[Gsxr150]

And watch all the impulsive cancellations get caught with their pants down who now have no chance of recovering their place in line? That would be cynically hilarious ?

Still, I do wish people would hold off from cancelling till the dust settles and see what the actual final outcome of this is.

Won't be hilarious at all. They are choosing not to do business with a company who operates like this. If you like being strung around like a puppet, enjoy your new Rivian truck

 

[Deleted member 1377]

Are you telling ME after holding MY money for 2 years and promising ME a vehicle for $79,000 and delaying delivery by another year and while Rivian sits on $85B, you want ME PAY AN ADDITIONAL $17,000?

 

[cwinters]

This will be the longest and dare I say, last thread for many on this forum. It crushed @MisterTea photo thread in a couple hours.

Way to blow it Rivian. It's not a great idea to take a dump on your most loyal investors. I kinda hope you learn it the hard way.

So frustrating. Maybe I'll wake up with a different mindset, but I doubt it.

The whole point of direct sales is to take the sleaze out of the process, but oh well.

 

[paariv]

The more I think about this, the less I think of Rivian.

For one, this exposes their lie about starting deliveries in September. They weren't doing that, and they knew it. Those were beta vehicles, only for employees, and that's why the price didn't change. Because it wasn't real to them. But they sure as hell lied to the street, and investors, about those vehicles being "production" vehicles.

They knew they'd have to increase prices, and decided to do it in concert with the real start of customer deliveries. But, as happens in startups, they didn't coordinate, so a few LE orders got going before they made their announcement, and they decided to let that slide.

This is why they're in the untenable position of having raised prices for some LEs, but not all, with a completely arbitrary and sudden decision. Hopefully we can get through to them how callous this was, but as always, I'm not optimistic.

If I were a plaintiff's securities lawyer, I'd be salivating.

 

[Sieve29]

Just for an additional data point, I’m out too. R1S Dec 2020 pre-order, but canceled immediately upon seeing the new price. Refund in a week or so. I understand it was never a solid price commitment, Tesla did it too, still may be worth it, etc. Not for me. I don’t like this business practice of holding my money for over a year on a vague “maybe we’ll deliver what we told you.” I’ll just go buy a different car when I find one I like.

 

[LaunchGreen]

For me, the money isn't an issue, but I can't help but wonder if dropping $200k (2 LE on order) for a new product developed by a company that has repeatedly demonstrated that they don't care about customers makes sense. I'm gonna sleep on it...

 

[TN2NFL80]

 

[Gsxr150]

The secret is out, Rivian is going to wait until 60% or more cancel and then they will announce the price increase is only on new orders...

LOL! Watch that happen...

Pipe dream my friend...

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