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

[carl]

This. I think a huge part of this decision lays in them realizing they can't come close to the production numbers they've claimed. By raising prices so drastically they artificially dump pre-orders while making more per car.

The damage to the brand, however, was clearly underestimated.

Yeah. The stock is really taking a dump and will keep going down. Will be interesting to hear their Q1 call just how many pre-orders they lost, has to be in the tens of thousands.

I'm going to keep my orders in for now and see how it plays out, at some point they may realize their mistake and make some adjustments to save face.

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[CommodoreAmiga]

What did you decide? I'm keeping for now and see what transpires over the next few months

Mentally, I'm basically "out". I don't need the $1,000 back, today, so I'll hang onto the reservation until they eventually (maybe?) ask me to finalize an order as a last-ditch hedge against other bets. But honestly, I'm 98% sure I'm not going to follow through with the Rivian order. I've got a reservation for a Hummer and a Lightning, and if either of those can get delivered to me, then I will absolutely take those. If GMC announces a Sierra Denali EV then I'll jump on the first reservation as long as it's in my budget, and at that point I'll cancel the Rivian reservation, as well, as I'm certain the GMC is going to be the "best fit" for me.

 

[xeeps]

Time to make some popcorn!

A certain Tom Petty song comes to mind....

 

[AllInev]

I’m assuming my fist half ‘23 will now be into ‘22. Thank you to those leaving.

Be sure to start doing your morning stretches so you can touch your toes when Rivian shows up in your driveway with your R1.

 

[KirkB]

I’m out. That’s not how you treat your most passionate advocates. I preordered a Tesla Model Y well before they went into production but Tesla honored my preorder price even though they had had numerous price increases between my order and delivery date. I don’t even rank Tesla high in customer relations. But they are a world above Rivian. This was a huge miscalculation on Rivian’s part. Too bad…I was once a huge fan.

 

[Inkedsphynx]

Rivian Team 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+ $7,500 lost tax credit = $24,500 INCREASE!

That'd my reward for being loyal to Rivian for 2 years.

Rivian never promised you a vehicle at 79,000$. Read the pre-order agreement. Pricing subject to change.

 

[Dark-Fx]

My LE is still going to be cheaper than the Hummer, or the Silverado RST. I will be surprised if I don't like the R1T better than the Hummer.

I have to wonder how many people would have not put in a preorder if they would have started with the pricing they are at now.

 

[doozenberg]

So if you want the old price you can have it - you just need to wait until at least 2024. Ouch.

Not quite - the cheapest is still about $2500 over prior base pricing with significant downgrades (quad motor --> dual motor, large pack --> standard pack). Talk about a raw deal

 

[emj5150]

Yelp, I'm out. Gonna use my deposit and buy a new set of golf clubs.

 

[ads75]

I have to wonder how many people would have not put in a preorder if they would have started with the pricing they are at now.

Significantly less. To me it looks like they were trying to pad numbers for their S1/IPO. They could have done tiered increases based off of preorder date, not hire on date for employees.

 

[Friscorays]

....I have to wonder how many people would have not put in a preorder if they would have started with the pricing they are at now.

I might have but the psychology of how this was done is really bad. 7 to 8 k increase I could have mentally wrote off as money I'd get back from the government. 16k plus may be in line with actual worth of vehicle but have to factor in the disrespect the company has shown to its most vigorous supporters and that is a pretty big detractor.

 

[doozenberg]

Here's my Non-LE R1S as currently on the site despite seeing this is $90K if you configure one now. Are we still clear on our pricing? Definitely not going a fit at $90K, and I sure hope that after taking our deposits they'll hold to our price! From some others adjusted, it looks like you're okay if you don't make any changes.

You prob got a follow up email later in the day explaining the bad news. Your screenshot is ancient history now

 

[Pathfinder]

I'm out as well. Aug 2019 LE holder but at this price and with communications only getting worse I'm not interested in giving Rivian my business.

 

[hola29]

They clearly did a poor job with pricing and in fact I remember them **reducing** estimated price a while ago, and I was shocked because it seemed way too cheap. Then pandemic, then supply chain, then run on cars, and then many EVs competing for parts later they adjust way past that. Obviously not great, but we live in a dynamic world and this is a start-up.

Generally speaking most 1.0 cars from 1.0 companies are not going to be for price sensitive folks. When they dropped the price and we heard 3.0sec 0-60mph McLaren suspension, and incredible stock off-roading their pricing seemed even more absurd, and then 300+ range with a huge vehicle.

I am sure they could have done this better, and they let people live with the concept they were only getting the best EV on the market but for a ridiculously low price too long...

I might have but the psychology of how this was done is really bad. 7 to 8 k increase I could have mentally wrote off as money I'd get back from the government. 16k plus may be in line with actual worth of vehicle but have to factor in the disrespect the company has shown to its most vigorous supporters and that is a pretty big detractor.

 

[atlastracer]

Will be interesting to hear their Q1 call just how many pre-orders they lost, has to be in the tens of thousands.

Given the timing. This likely won't be in their earnings report as that would be for previous quarter. They may address it in narrative or in the Q&A. But I'd be a little surprised if they release actual figures on lost pre-orders.

Not to mention many folks are holding on for now but may be unlikely to complete the purchase.

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