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

[Redline]

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.

I bought more. Thanks for the emotional sale.

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[Riviot]

Ford isn't going to lose one sale to Rivian, Rivian isn't going to lose one sale to any competitor in the next year or so.

Rivian just lost me to Ford. @SeaGeo too I believe. So you are very out of touch. I can't believe I haven't ignored you yet.

 

[Curney1]

That's an important "edge case" for Rivian to sort out. It really can't be such a hard line. How many pre-orders did they get that day? 200? 2000? Hopefully they'll blur and curve this line to be fair while balancing their real world costs. Of course if your order is not identical to your neighbor, whether it's wheels or paint or off-road or throwing the kitchen sink at it, there has to be a point when "number at the deli" 42 gets built and number 43 doesn't.

agreed...just a different color though....

 

[Rad]

The stadium headlights are really starting to look like sad droopy eyes.

quite The sham we’ve been exposed to over the past 3 years (I am, or soon to be was, an early reservation holder from Nov 18).

 

[the long way downunder]

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.

you're saying you know "how Wall St works" … ? : )

 

[SeaGeo]

Rivian isn't going to lose one sale to any competitor in the next year or so.

I'm not so confident about that. Are they losing 50% of reservations? 70%? 30%? I'm guessing between 50% and 70% at this point. That would imply that they'd be back to fulfilling all reservations this year. Unless they're also significantly scaling back production from their prior estimates. In any case, they're losing multiples of sales by ruining the relationships they had developed with their most vocal customers AND with the press.

 

[the long way downunder]

The stadium headlights are really starting to look like sad droopy eyes.

quite The sham we’ve been exposed to over the past 3 years (I am, or soon to be was, an early reservation holder from Nov 18).

There's no "sham" evident … pricing was adjusted and is in line with the market. Rivian has gone years without updating to keep pace with the market and it's just another example of their communications problems.
A Nov '18 R1T LE should be being built this quarter. You might want to call and find out.

 

[Craigins]

I'm not so confident about that. Are they losing 50% of reservations? 70%? 30%? I'm guessing between 50% and 70% at this point. That would imply that they'd be back to fulfilling all reservations this year. Unless they're also significantly scaling back production from their prior estimates. In any case, they're losing multiples of sales by ruining the relationships they had developed with their most vocal customers AND with the press.

Even losing 70%, filling that in 2022 would be at the top end of my guess at their yearly number. 30% of the 70k preorders, 21k. That's being generous.

My guess is they lose 60% and project a saturated production through 2023. Counting current orders and projected new orders. With the production ramp not going as planned, my guess is around 15k vehicles this year.

 

[the long way downunder]

I'm not so confident about that. Are they losing 50% of reservations? 70%? 30%? I'm guessing between 50% and 70% at this point. That would imply that they'd be back to fulfilling all reservations this year. Unless they're also significantly scaling back production from their prior estimates. In any case, they're losing multiples of sales by ruining the relationships they had developed with their most vocal customers AND with the press.

I think we'll know the number of pre-orders that were shaken out at the 21Q4 earnings on 3/10. I'm guessing the number of cancelled pre-orders is in the dozens or hundreds.

 

[the long way downunder]

Rivian just lost me to Ford. @SeaGeo too I believe. So you are very out of touch. I can't believe I haven't ignored you yet.

When a producer is capacity-constrained, they inevitably lose single orders, but those orders are not lost to a competitor, they're business that was never going to be transacted.
As a handful of people quit their pre-order for lack of understanding the world around them, that doesn't impact revenue to Rivian, nor does it generate revenue for any given competitor – each cancelled pre-order is a consumer who was never going to pay the market price on a tentative pre-order places months or years prior.

 

[Davethadog]

I think we'll know the number of pre-orders that were shaken out at the 21Q4 earnings on 3/10. I'm guessing the number of cancelled pre-orders is in the dozens or hundreds.

Do you genuinely think that there is that level of price insensitivity to an EV?

 

[AllInev]

There's no "sham" evident … pricing was adjusted and is in line with the market. Rivian has gone years without updating to keep pace with the market and it's just another example of their communications problems.
A Nov '18 R1T LE should be being built this quarter. You might want to call and find out.

Oh please. Rivian kept the prices artificially low to attract reservations and garner rave reviews --many specifically mentioning the price/performance as one of it's most attractive lures. Once Rivian got it's $13+ billion dollar IPO cash and was ready to start actually delivering to non-employee customers, they raised to price to reflect reality. Unless Rivian stock recovers quickly, they better start planning to deal with class-action lawsuits.

 

[SeaGeo]

I think we'll know the number of pre-orders that were shaken out at the 21Q4 earnings on 3/10. I'm guessing the number of cancelled pre-orders is in the dozens or hundreds.

I suspect they'll not answer it as the event happened after Q4.

There's zero chance it's limited to hundreds.

 

[ERguy]

Rivian just lost me to Ford. @SeaGeo too I believe. So you are very out of touch. I can't believe I haven't ignored you yet.

Im also ditching Rivian for another brand. I have a Lightning reservation, but I won't get to order one this year.

I'm leaning toward getting a Kia EV6 to be my new daily driver and just keeping my ICE truck as an extra vehicle for those times I need the utility of a truck.

The Kia and Hyundai are pretty tough to beat right now when considering the range and features you get for such a competitive price.

 

[GaryL]

I think we'll know the number of pre-orders that were shaken out at the 21Q4 earnings on 3/10. I'm guessing the number of cancelled pre-orders is in the dozens or hundreds.

Are you saying that the total number of preorder cancellations as of this minute are in the "dozens" or just the number of cancellations that happened in time to be reported on the earnings call will be in the dozens?

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