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

[xristopherb]

It’s currently down $.41 cents AHs.

I don’t think people understand how Wall St works. Remove your emotion from this.

You're right. Some people don't understand how Wall St works. RIVN down 13.49% today. You were saying...

The Motley Fool: Rivian's Bait and Switch Is Already Costing the Company
Barrons: Rivian Stock Is Falling Because EV Prices Are Rising. Investors Aren’t Happy.

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[Guy]

Everyone should send their Chief Growth Officer a message on LinkedIn https://www.linkedin.com/in/jitenbehl/

I sent him a message as he has messages enabled (for now). I suggest others directly message him so he gets to know the strength of feeling.

 

[Guy]

You're right. Some people don't understand how Wall St works. RIVN down 13.49% today. You were saying...

The Motley Fool: Rivian's Bait and Switch Is Already Costing the Company
Barrons: Rivian Stock Is Falling Because EV Prices Are Rising. Investors Aren’t Happy.

Redline is an apologist and Rivian have dropped in value much more than the relatively small revenue increase.

 

[E.S.]

Yeah, I don't think this was a Rivian marketing ploy. They are not testing the waters and then pulling back. Unless your into pain, nobody is saying thank you Rivian may I have another.

No one said this was a masochism claim either, so not sure why you felt it was worth bringing up.

What I am saying is, let the dust settle. There exists a small chance of possibility that, especially for LE reservation holders, the message was sent out erroneously and/or Rivian reversals the decision and honor locked in prices. If that winds up being the case there will be a lot more people regretting the hasty action of cancelling since they won't be able to get that reservation back. Now if it winds up being Rivian didn't make a mistake, then by all means cancel your hearts away.

 

[Guy]

I also have my eyes on the EV9. Any clue as to when it’ll be released? I’m also hoping that Ford releases the EV Explorer next year.

Production is scheduled to start in South Korea in Q2 2023 and available in the US in early 2024 which lines up with the dual motor R1S. Looks like it could be faster charging, cheaper and a more spacious third row than the S.

 

[Riviot]

Everyone should send their Chief Growth Officer a message on LinkedIn https://www.linkedin.com/in/jitenbehl/

Has anyone figured out how emails are constructed at Rivian, and gotten his email address?

 

[Mari76]

Production is scheduled to start in South Korea in Q2 2023 and available in the US in early 2024 which lines up with the dual motor R1S. Looks like it could be faster charging, cheaper and a more spacious third row than the S.

Thanks!

 

[moosehead]

Has anyone figured out how emails are constructed at Rivian, and gotten his email address?

 

[Gshenderson]

After having a day to stew on this, I will likely keep my reservation and move forward with purchase in a few months. Even at the new prices ($85K for my LE R1T), the truck itself is still a good value IMO. As someone else mentioned, I paid over $100k for a Tesla Model S 85D in 2015, and this is a superior vehicle IMO. Unless I start hearing about issues with the trucks and/or post-delivery owner experience, I’m still a buyer.

Despite the doomsday predictions, I don’t think this will kill the company or the stock in the long term. It’ll likely have the opposite effect due to improved margins. I also don’t believe it will lead to any sort of mass harassment or other retribution to us “scabs” who still buy. 95% of the population doesn’t even know who Rivian is, and 99% don’t care that they raised the price on an already expensive truck that most people couldn’t afford to begin with. The bigger risk to the viability of the company is going to be whether they can get their shit together to ramp up production in a meaningful way, and whether they have significant quality and/or service issues once they start shipping. As others have said, there’s still enough buyers willing to take every truck they produce for at least the next 3 years, even at the new prices.

In true Rivian style, though, they completely botched the comms and approach to this entire thing. This is a well-known and multi-year problem for them, and some heads should be rolling over it. But I doubt they will.

I’m sad for the many folks who have been priced out of the market by this increase. Many long-time loyal supporters simply can no longer afford the truck, and that’s what upsets me the most. I’m not going to jump on the “if it was that close you probably couldn’t afford it anyhow“ bandwagon. These are real impacts on real people, and Rivian has shown zero empathy for them. That’s just bad business decision making, but consistent with their behavior for many years.

I’m predicting a major reset on delivery expectations either on the earnings call or shortly before (likely on it given their piss poor comms / PR operation). So even though I have a May-June delivery window, I don’t expect to see my truck until July-Aug at the earliest, even with all of the cancelations.

Rivian has done much to piss away what could have been a massive asset of brand loyalty and promoters. I’ll likely get the truck, but I won’t be an advocate for the company or the brand unless/until they do a complete 180 on how they treat and communicate with customers.

 

[Sdvictor]

Rivian has done much to piss away what could have been a massive asset of brand loyalty and promoters. I’ll likely get the truck, but I won’t be an advocate for the company or the brand unless/until they do a complete 180 on how they treat and communicate with customers.

My sentiments exactly. I might still get both vehicles since i can afford both of them. But I did go test a Model Y today due to how irritated I was. We'll drive the R1S and use it as an acceptable form of transportation. The R1T might be replaced with something else though (Model Y? Lightning? Taycan? iX? Something else?). The 80k market and the 100k market are very different, and the expectations /competition are much higher. My "advocate" days are long over.

 

[ERguy]

Despite the doomsday predictions, I don’t think this will kill the company or the stock in the long term. It’ll likely have the opposite effect due to improved margins.

Maybe your prediction will prove correct, but the short term effect on the stock suggests the bait and switch will affect the company and it's stock for now.

The stock really tanked today.

 

[Joninrye]

I emailed customer service about honoring preorder pricing and here is the response. I expected this, but just thought I would ask.

It's so cringy how tone-deaf this email is. Still trying to keep up the outdoorsy-change-the-world- we're different- theme.... after just completely hosing their customers in the most cold hearted corporate way possible.

Read the room Rivian.

 

[mahendar]

We need to get SEC involved. This is a clear fraud case. Company profile was built using pre-order numbers and now ditching/duping the pre-order holders indirectly by increasing price at a inflation rate of 20%......

 

[Kidentist]

Reservations are dropping faster than the Rivian Stock price.......I wonder why.....

 

[Trandall]

Rivian is a premium priced vehicle, not competing with GM or Ford, more like the luxury lifestyle statement of a $200K Porsche or G-wagon.

I respectfully disagree. It may be cross competing against several categories but several members have indicated they also have early F150 Lightning reservations and would now be moving on the Ford not the Rivian. I may well be in this camp myself. It doesn't have to be an apples to apples comparison to still be competing for the same dollars.

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