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

[Driveout]

Cancelled. As my sister used to say "don't go away mad, just go away"
Sayonara folks, I wish you all the best.
Note to Rivian.
Rivian has all the appearances of being a top shelf engineering and product development company. The concept and execution of the R1T and R1S are to be commended. Rivian’s failing is in execution at scale and customer interaction. To be a successful startup in today’s market requires both a standout product and reasonable customer experience. This latest bait and switch tactic for those of us willing to take an $80,000 risk on an unproven product with a history of poor customer interaction and a 15% price hike is just too much to ask. “You can still have your R1T at the same price with only 2 motors and a smaller battery, oh and by the way the interior is no longer part of our LE package and there will be at least another 2-year delay.” 1,107 days have passed since my $1,000 deposit was placed. I won’t be waiting for Rivian to decide the management team needs people that understand how to treat customers and build at scale. So many of the ambassadors of good will which have been flushed and discarded by the lack of ongoing communication can only have a negative impact on future sales.

I wish Rivian luck in their endeavors.

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[crashmtb]

Yowzers. Do you yell at gas station employees about the price of gas?

 

[RivianXpress]

So RIVN lost about $7B in market cap today? - the 71K pre-orders multiplied by an average $17K price increase = $1.2B in new profit.

Was that smart business sense - lose $7B to make $1.2B? Even selling many more vehicles it's gonna take a lot of time to make some of that $7B back... at the higher prices.

It would have cost them about $250M to lock in the price for the (15K?) LE holders. That's much less than the $7B and would have satisfied many customers and kept a lot of the good will.

 

[JerseyGreens]

So RIVN lost about $7B in market cap today? - the 71K pre-orders multiplied by an average $17K price increase = $1.2B in new profit.

Was that smart business sense - lose $7B to make $1.2B? Even selling many more vehicles it's gonna take a lot of time to make some of that $7B back... at the higher prices.

It would have cost them about $250M to lock in the price for the (15K?) LE holders. That's much less than the $7B and would have satisfied many customers and kept a lot of the good will.

Think about how much equity Rivian employees lost today...

I hope they still give a shit about QC...

 

[ahsfca]

So RIVN lost about $7B in market cap today? - the 71K pre-orders multiplied by an average $17K price increase = $1.2B in new profit.

Was that smart business sense - lose $7B to make $1.2B? Even selling many more vehicles it's gonna take a lot of time to make some of that $7B back... at the higher prices.

It would have cost them about $250M to lock in the price for the (15K?) LE holders. That's much less than the $7B and would have satisfied many customers and kept a lot of the good will.

That's not exactly how market capitalization works though. When they did the IPO they issued shares and received the revenue of the share price on that day. That's it. When the stocks go up or down, it's not Rivian's money going up or down, but the shareholder's. Having a high market cap is a good thing though for issuing more equity to the market and getting a lot more for the shares. So going down today does hurt them, just not the actual $7B.

 

[KidThunder]

Welp, I guess I'll try back in 2024

 

[RivianXpress]

Early adopters got a huge price increase yesterday and those lucky shareholders got a nice RIVN haircut today. Combine the two and you get cancelled orders and a lot of lost faith in the company, the management and they pissed away all the enthusiasm and good will that took years to grow.

 

[the long way downunder]

I know it’s the last thing you guys want to hear, but as some of you know I was supposed to join rivian next week. I am now rethinking about my job.

I don’t have an order , but I have been in the forum since Nov when I started the interview process, & have started to internalize the anticipation, excitement, frustrations for company & product expressed in this forum, I felt part of the community even though I don’t know anything about you folks other than your love for the product. I felt happy for folks here when the customer deliveries were finally starting.

Now to see the folks who loved rivian so much turn against it, I can’t help but feel the same disappointment. I keep staring into the void, not knowing what I am doing. I don’t know if I want to join rivian which seems to have let down it’s most loyal customers or disappoint my hiring manager who is eager for me to join. I spoke to my manager about the recent news, it didn’t make me feel any better I am at a loss…

Take the job. Don't let the artificial noise on these forum sites impact your career.

Half the posts here are new users with 1 post just to say how they're an "ambassador" and they no longer trust Rivian.

It's a price change, not some dark misdeed exposed by a whistleblower.

 

[the long way downunder]

There is a Producer Price Index for Motor Vehicles which provides great insight on industry inflation. I can see 3-7% over the last 3-5 years. That I could understand. Anything more is either poor management and opportunistic. I thought differently of Rivian. I truly hope they modify the approach.

You think car prices are up 7% in the last 3 years?

 

[the long way downunder]

Cancelled. As my sister used to say "don't go away mad, just go away"
Sayonara folks, I wish you all the best.
Note to Rivian.
Rivian has all the appearances of being a top shelf engineering and product development company. The concept and execution of the R1T and R1S are to be commended. Rivian’s failing is in execution at scale and customer interaction. To be a successful startup in today’s market requires both a standout product and reasonable customer experience. This latest bait and switch tactic for those of us willing to take an $80,000 risk on an unproven product with a history of poor customer interaction and a 15% price hike is just too much to ask. “You can still have your R1T at the same price with only 2 motors and a smaller battery, oh and by the way the interior is no longer part of our LE package and there will be at least another 2-year delay.” 1,107 days have passed since my $1,000 deposit was placed. I won’t be waiting for Rivian to decide the management team needs people that understand how to treat customers and build at scale. So many of the ambassadors of good will which have been flushed and discarded by the lack of ongoing communication can only have a negative impact on future sales.

I wish Rivian luck in their endeavors.

that's a pity.
(1) cool avatar … snorkel and wheels … : )
(2) a price change is not a "bait and switch" (why do people keep using that expression?)
(3) each time I read "ambassador" or evangelist or whatever, I check the avatar of the user making the post … a lot of new users with one or two posts. So I wouldn't attribute any significance or even any truth to wildly negative posts here (trolls on an Internet forum … shocking …)
(4) I think along with people who never intended or expected to be able to afford a Rivian, there's also people like you who were sincere.

 

[the long way downunder]

Welp, I guess I'll try back in 2024

There's a lot of BS posts like this … joined yesterday, two posts …

 

[shivarajan]

Anyone, who pretends to not be affected by price change and tries to justify it, seems like paid posts or RIVN employees?

 

[astonius]

(2) a price change is not a "bait and switch" (why do people keep using that expression?)

It’s not legally, but morally and practically speaking it is. When you see deliveries happening alongside an advertised price, your delivery is weeks away, and suddenly overnight without warning that price jumps 20% with the option to downgrade your configuration and wait another 2+ years to maintain your current price… bait and switch is an appropriate term even if it doesn’t meet the legal standard.

 

[eggpaul]

Funny how so many kept insisting deliveries were happening. Those forum members seem to be hiding right now. Deliveries were NEVER happening. It was all beta testing, with a few sketchy non employee "deliveries" We still don't even know what the membership will be. A few people from this forum have signed agreements and they don't even know what the membership cost will be. Still so many unknowns.

 

[Hivetyrant]

There's a lot of BS posts like this … joined yesterday, two posts …

We have to have multiple posts or a history here to have cared about our orders? Lol you're delusional mate.

You seem to have very thin skin and it's a shame that you think only people like you "could ever afford" a vehicle like this.

Grow up, we're allowed to be disappointed and join the Rivian forum to express our frustration.

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