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

[Mtb_Erik38]

This seemed pretty inevitable. If you knew anything about Rivian pre 2021 you knew they were at best walking a thin line between being the next Tesla and being the next Fisker. This was fairly predictable given the basic economics for EVs and the raw cost calculations that you could have easily done on the R1T/S. The thing has a huge battery pack that’s around 30% larger than a Model S/X and priced 20% less?? ADD ON up to 50%+ raw inputs inflation etc and you have what, only a 15% price jump?

They obviously could not have anticipated raw material costs skyrocketing like they have in 2020-2022 and this seems like a difficult decision that was probably in the works for many months. I’ve been saying all along they had negative margins with their supposed pricing and this was just proof. So if they’re acknowledging reality then they’re not stupid and are doing their best to turn things around. If they can repair their brand and scale then they might survive.

For similar money (ie $75k + $10k ADM (if you’re lucky) you can buy a Bronco Raptor that is slower and uses gas, for more money you can get a Defender V8 that is also slower and uses gas, etc. etc. It’s definitely a bait and switch so I get the outrage but at the end of the day it’s still pretty cheap compared to the competition.

$85k for a quad motor spec gets you 0-60 times in the neighborhood of $150k+ supercars and the off road capability of a Defender? There are people who pay $275k+ for G wagens and $150k for Porsche Taycan crossovers. If you’re a launch edition reservation holder you should just sell your reservation rather than cancel it because you probably still have $15k in arbitrage. The first Bronco sold for almost $200k and First Edition Broncos are being purchased by dealers at auction for $80k+ aka $15k over MSRP.

There’s a lot of overreacting here. Some people here don’t understand money at all and basically just threw away a bunch of it by cancelling their very early reservation. Even if you couldn’t afford the Rivian at the new price maybe you could still make enough flipping it to give yourself $10k-$15k off another vehicle of your choice. It’s still a winning proposition if you understood the basic numbers…

I don't think you understand the position this puts us in. My order USED to be $73,500 for an explore with the large pack and a camp kitchen plus the stock wheels and paint.

My order is NOW $93,500, 20 FUCKING THOUSAND DOLLARS INCREASE??? $400/ MONTH is NOT a reasonable increase!

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[paariv]

Eh, yes and no. I think all LEs (which are being built first) would have been a logical place to draw a line in the sand.

Yeah, it would at least solve the problem of certain configurations (ahem, BM interiors that are in the first batch) getting a massive discount over others who weren't lucky enough to be in the first production run. And with the price not being locked, those who chose to wait for a max pack, or for the LE kinks to be worked out, at least would have more than theoretical notice that their price could change. Can't say that about LE holders.

 

[sacramentoelectric]

Okay so there is a price hike, cool.

How about a got damn article dedicated to the R1S ?!?! How do I even know what im paying 20% more when I haven't seen proper colors/pics/videos of the interior.... LOL.

Maybe because the R1S is borderline vaporware or because Rivian can only build 25% of the vehicles per week they said they would so adding another model would be impossible? Why advertise a vehicle you can't build?

 

[Temerarius]

Just got my updated cost... two words cross my mind: "Holy" and "$hit"

Crossed $110k... not sure about the truck at this point. ?

 

[BradSomrak]

lol, sure Jan.

I mean listen... that's not what's going to happen. Rivian has an incredible amount of pent up demand they can't meet today. A price increase, even with many preorder holder cancelling, makes sense — especially with the introduction of cheaper models. Based on its capability, the R1T is still priced competitively even if it was extremely well priced before the increase.

Not trying to split hairs, but does Rivian really have an “incredible amount of pent up demand?”

Their “pent up” demand is because of their near complete inability to….make and deliver vehicles. Let’s assume - based on just preliminary polling data from this forum - that they lose 33% of their preorders. That leaves them with, what, 40k reservation holders at that point?

I’m not sure 40k preorders is some unbelievable demand metric - especially when considering Tesla’s (certainly inflated) million Cybertruck reservation holders. (And, preemptively, yes I understand the difference in a $100 versus $1,000 deposit difference). The point remains.

 

[ex0de]

So, since the company first started producing cars (their first edition Roadster) they haven't leased vehicles. It was only after the Model S got introduced that leasing became an option. That being the case, as Rivian is only 5 months into production mode, why is anyone surprised they too do not have a lease option this early in their production lifespan?

Just because I couldn't find it doesn't mean they didn't have leases on the roadster. Hardly anyone knew about tesla until model s anyway they produced what less than 1000 roadsters at best in all those years?

 

[Ralph]

How do canceled preorders create meaningful movement in production? I don't get it. It reduces backlog I guess but doesn't increase growth. I understand why they raised prices but it seems like a really bad idea to burn all your early adopters. I don't think the stock price is where it is because of Rivian's margins.

My theory is that, for whatever reason (supply chain, lack of factory automation, etc.), they have determined that they can only build so many vehicles. They need X money to go forward with commitments (Georgia, Wall Street, etc.). They built a data model which very simply provides the revenue they need from those vehicles. They have, or should have a lot of knowledge about the pre-order holders.

They have determined that orders, after all the anticipated cancellations, will equal or exceed the number that they can build.

Capitalism.

Unfortunately, they may find that capitalism is indeed regulated in this country and that timing of various events are going to make the company's life difficult. Remember the VP of Marketing that was fired immediately prior to the IPO? She made many claims, including these, From this article:

"Schwab said she raised concerns about Rivian’s “ability to deliver on its promises to investors” to Behl and other executives, including Stuart Dixon, director of product management, and Andy Zicheck, principal product manager, which were dismissed. She was also instructed not to voice her concerns to Rivian founder and CEO RJ Scaringe, the lawsuit states.

Schwab said she warned executives that Rivian’s vehicles were underpriced but she was rebuffed. Behl later agreed Rivian would need to raise vehicle prices after a male executive raised the issue with him, the lawsuit states."

 

[Otisbrick]

They promised me delivery in June of 2020 and then Nov 2021. I gave them an interest free loan on Nov 2019. The things that they are doing with communication and policy changes will no doubt show up in their customer service when you have a problem with your truck, need service or a warranty problem. Actions speak louder than words….

 

[AxelR]

You can see all the fanboys pointing out their nose now.
Trying to justify a very poor customer experience with 0-60 times and other arguments.
Have fun in lalaland

 

[Outdoorsman]

My R1S went from 80k to 99+
just can’t justify this kind of money
I canceled my preorder
Good luck all! I’m out.

 

[BoisVert]

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.

Crazy logic. Based on this a Cayenne EV should be $180K just because there is nothing like it?

The Rivian was well priced. But a $20K bump is insane.

 

[Ryanide]

The stock is going to plummet tomorrow on this.... I think pre-orders should have been locked in at the price they order it at and new orders go in at the new price. That's how they should have handled this.
But then again they can't even get their marketing together. The idea of their community Hub is absurd, and I say this after going to the one in Venice, CA. The people working there know less about the vehicles (specs & options and deliveries) than most of the prospective buyers who are there to find out more information and get a test drive. I'm sorry but you have to have a community of owners before anyone is interested in going there to learn how to plant a tree or read a book. And we all know that the only owners are the ones that work for the company or a select few who have received one. Furthermore, being told to sign up for the newsletter on the website to get informed about when test drives will be coming to your area, is stupid.

 

[irvineboy]

Totallly upset. They said large battery pack was included in the Adventure Package. Now they are charging $6000 for the large battery. They said 0-60 in 3 seconds. Now they are charging $6000 for quad motor. That’s a $12,000 difference. Ocean interior was free and now it’s $2000. That’s a $14,000 difference. Not included the increase in the Adventure Pack. $95k now from $78k

 

[ex0de]

The stock is going to plummet tomorrow on this.... I think pre-orders should have been locked in at the price they order it at and new orders go in at the new price. That's how they should have handled this.
But then again they can't even get their marketing together. The idea of their community Hub is absurd, and I say this after going to the one in Venice, CA. The people working there know less about the vehicles (specs & options and deliveries) than most of the prospective buyers who are there to find out more information and get a test drive. I'm sorry but you have to have a community of owners before anyone is interested in going there to learn how to plant a tree or read a book. And we all know that the only owners are the ones that work for the company or a select few who have received one. Furthermore, being told to sign up for the newsletter on the website to get informed about when test drives will be coming to your area, is stupid.

?

 

[E.S.]

Just because I couldn't find it doesn't mean they didn't have leases on the roadster. Hardly anyone knew about tesla until model s anyway they produced what less than 1000 roadsters at best in all those years?

And just how popularly known do you think the Rivian is? Just because we here know about it does not mean the rest of the world is just as informed. I still see plenty of videos, met ups, and people asking "what (the heck) is a Rivian?" How many has Rivian produced? How focused are they right now to rapidly increase production rates? Do you really think when them focused hard on that, leasing in on their minds at the moment? No, realistically it's not.

My point is: Most companies that are still this new into production mode won't offer lease options until they ramp up their capacity to the point of having enough vehicles to offer for a lease. Anyone expecting more this soon is going to have their expectations completely shattered as it is unrealistic.

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