Rivian: we’re out.

[fotoflux]

I'm unofficially out. My pre-order was scheduled for late 2023. I am going to order a Mercedes GLE 53 early next year with every single option. It is still cheaper than the R1S I had on order. And only slightly slower, lol.

I was sad that I couldn't get HUD, massaging seats or Apple CarPlay. Now I guess I can.... If Rivian reverses course on these price increases I won't cancel my order when I order my GLE next year. I'm not an environmentalist. I wanted an exciting 3-row SUV. But for the price, It's not worth it to buy from a start-up with completely unknown viability or reliability or battery maintenance costs....

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[RWerksman]

I'm 99% out as well. Same as everyone else - I could probably swing the enormous increase in cost, but as I write this I don't want to reward Rivian's continued behavior with my business.

I believe:

• The have decontented the vehicle since I placed my preorder.
• They have continually missed self imposed timing for delivery.
• They have been unable or unwilling to communicate effectively at every step of the process.
• Knowingly and willfully misled both customers and investors on the price of the vehicle and the order backlog based on the false pricing model.
• They have falsely used Covid and inflation as a cover to justify an alteration from a pricing model that was A) never going to exist, and B) completely unsustainable.

I've been somewhat unhappy with Rivian before, but I always believed that any transgressions they might have made were the costs of bringing a vehicle to market - a necessary evil. I had faith that they were going to be able to right the ship, compete with the best EV makers on the planet, and I was going to both have a vehicle and investment I was proud of and could advocate for.

That is no longer the case. It's my belief that Rivian has been deceptive. They have been deceptive in how they showed the vehicle initially, how the vehicle was marketed, and how the vehicle was priced.

I additionally believe they were purposefully deceptive in regard to their IPO, driving institutions and individuals including myself to invest on a lie. There was no product at the price they were advertising, and there was never going to be one. The order backlog was effectively a sham designed largely to inflate IPO pricing and sucker investors into buying shares.

It was a rug pull, yesterday was the pulling, and I am going to attempt to exit myself from the situation while minimizing my loses.

 

[Redline]

I'm out. I would say that I wish Rivian the best but I can't lie to them like that. I hope the company goes down in flames but that the employees are able to find good jobs somewhere else.

This is a level of insanity I simply can’t grasp.

This place is amazing.

 

[Riviot]

I did a thing!

This was for the 400 mile range Adventure, which I can no longer afford. I still have my Launch Edition pre-order... for now.

If anyone wants to sell their Launch Edition pre-order, message me!

 

[TollKeeper]

Unofficially, I'm out. Hoping for a market rebound a bit. I cant loose my hide. I invested heavily.. More than I should have... And now I am paying for that faith.

I will hold onto my order for 1 more month.. If they dont fix this shit, I am out!

 

[Friscorays]

I’m likely out, but not until I carpetbomb the living crap out of Rivian’s customer service department.....

What good will that do? Might as well yell at your Amazon delivery guy because Bezos increased Prime membership fee.

 

[EVTrukHog]

I need a new truck... looks like back to the ICE market for me. Was really excited about being part of the EV evolution, but it appears the EV Truck market needs some maturation/stabilization.

I'll be looking hard at Dodge RAM or F150 ICE models... maybe re-evaluate EV market in 3 or 4 years. At that point, charging options should be more convenient and efficient as well.

May keep my reservation for a while to see how this plays out, but don't plan on taking R1T delivery at the current price points relative to the rest of the truck market. Rivian's behavior in last 6 months almost seems like they wanted to drop pre-order holders... wonder if there is an inside joke at Rivian about how much disappointment will our pre-order holders take before they start dropping??

 

[dsmithsalinas]

Also unofficially out. We are super bummed. My config is now well over $90k and I just simply don't want to spend that. I expected some increase, few thousand... maybe $6k, but a 20% increase is just insanity.

The more I thought about it, too, I agree with others who are expressing concern that Rivian has been very disingenuous. They had to have known for some time that a 20% increase was needed. When did they know? Did they know prior to IPO? Why wait until they're so close to actually delivering vehicles to customers to make this change? Just seems really scammy, tbh.

Back on the market now for an EV.

 

[pklomboy]

I need a new truck... looks like back to the ICE market for me. Was really excited about being part of the EV evolution, but it appears the EV Truck market needs some maturation/stabilization.

I'll be looking hard at Dodge RAM or F150 ICE models... maybe re-evaluate EV market in 3 or 4 years. At that point, charging options should be more convenient and efficient as well.

May keep my reservation for a while to see how this plays out, but don't plan on taking R1T delivery at the current price points relative to the rest of the truck market. Rivian's behavior in last 6 months almost seems like they wanted to drop pre-order holders... wonder if there is an inside joke at Rivian about how much will our pre-order holders take before they start dropping??

Yeah they are all probably laughing at us now..... =(

 

[wrinkledoc]

When Rivian had so many production delays I decided to order and take delivery of a Tesla Model S Long Range (updated 2022). After I placed my order Tesla increased the price of the vehicle but still honored the price at the time of order. I took delivery in December and planned on likely selling the Tesla when my R1S was ready for delivery. After driving the Model S I was not sure if I would prefer the R1S and was a bit on the fence. Rivian just took a great deal of the value proposition out of the equation with this price increase. Secondly, they showed how little value they place on their early adopters and fans. I'm likely going to cancel. As much as people complain about Elon, RJ just made him look a lot better. Just hope the stock doesn't tank as well.

 

[crow979]

Out...I've lost confidence in Rivian to be able to deliver. Clearly they were working on false assumptions. The investor lawsuits alone may destroy the company. I just hope I can get my deposit back before they file for BK.

 

[Friscorays]

.....Just hope the stock doesn't tank as well.

I hate to break the news to you......

 

[IronM5]

I'm still in shock, but I believe I am out as well. Who knows how much more the price will increase, when, and if, they ever get to the point where I have a Rivian en route to my driveway. I only bought a few stocks so not too worried about that. Will be happy just to get the $1k back while I still can.

 

[alexpuw]

Yeah - cancelled and sold off my stock. I wonder if Rivian will be in business next year. I just order a Tacoma - surprisingly paid MSRP. GOD I HATE dealerships but it’s what I have to do. And I can two Tacomas for the price of 1 R1T. Think about that.

 

[lg3103]

I’m unofficially out. Thanks Rivian…I made about $20k on your shares taking advantage of the share price roller coaster. Sold all my shares yesterday after I received the message of the price hike. I understand some of the need to increase prices, but this should have excluded launch editions…Rivian has just destroyed an army of brand promoters. Test drove a EV6 GT last night…different vehicle to the R1S I was planning to buy but still a fun and impressive vehicle

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