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

[the long way downunder]

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.

A long overdue and poorly communicated price increase is not a sham or a bait and switch or any of the emotionally charged angry comments I've been reading here …
Car dealers "bait and switch" with ads they still run every day because … people are idiots … they'll read "$15,000 below invoice!*" and see the asterisk and see the fine print "two at this price" and go in to the dealership looking for a red Mustang and somehow come home with a 10% interest rate on a 7 year finance for a beige minivan … : ) … that's bait and switch.

Sponsored

 

[the long way downunder]

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.

you should take your case to reddit … they're receptive to people who join and start making claims and expect to be believed
p.s. delusional, thin-skinned, "could ever afford", "grow up" …

 

[kanundrum]

Hello

I really need to turn off email notifications for this thread.

?

 

[the long way downunder]

I'd think it's a significant number and would fall under SEC requirements for reporting.

Edit: Found it. A Form 8-K is supposed to be filed within 4 days of a "significant event".

That SEC 8-K form describes itself as being for disclosure of business operations necessary for compliance.
The 21Q4 earnings report is where they'll need to update on revenue projections (up 20%) and margins (also improved) and I imagine the elephant in the room is the social media blowback … to which I expect Rivian will report dozens or hundreds of cancellations which they will characterize as nominal anticipated attrition in line with forecast conversion rates of pre-orders to deliveries. The important disclosure from the CEO will be expected future price adjustments.

 

[E.S.]

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.

Are we now? No one is hiding. We are just as impacted by this change as much as you all are.

Are deliveries happening? Yes. Are they abundant enough to make an impact right now? Absolutely not. Rivian is still too new to have that effect as of yet and for some ungodly reason this concept still subtly eludes people - Rivian does not have production experience. No amount of $$ will change that for the time being. Another factor is accounting for people that do not want the exposure because the value their privacy over the fame of showing off they have a Rivian (yes, people like this DO exist. I am one amongst them).

You are correct regarding the membership, and after yesterday, Rivian is going to get a lot of flak concerning what's going on as a company overall. Rivian needs to make a major change regarding how they communicate with us as well as the frequency of it in regards towards a lot that still remains unknown.

 

[the long way downunder]

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

Look at the S&P. I don't think of the S&P as "right" or "wrong" … it's a fact.
Given inflation, unemployment, a pandemic that has killed 950,000 Americans (more than any other country, and the President says it's "behind us") … Russia killing hundreds of people instead of diplomacy over fears of military encroachment by the USA and NATO … the markets had a "free fall" that lasted a blink of any eye, and now setting new highs. The President assures a worried nation that it's just military industrial complex profits being served, no American will go into battle, and the Fed assures a worried banking community rates will tickled 25 basis points, not 50, so there's no risk of depositors getting paid any time soon.
There is an affluent population of consumers in the USA detached from the worries of the world.
A loaded Rivian R1S Max is about the same price or a bit cheaper than the boring, old Model X minivan that "everyone" has and is indistinguishable from a 2016 Model X … the Rivian is a boutique status symbol lifestyle consumer discretionary purchase that will look damn good in the driveway and be unique parked outside the office for a full year of "first kid on the block" afterglow.
Ironically, the buyers who were sincere and aspired to an electric weekend getaway machine that would have dogs on the back seat and junk in the tunnel are the ones "shaken loose" from the pre-order queue … that's the avoidable damage that I wish Rivian had avoided by simply managing their sales and marketing.

I think there's zero price elasticity: for this 15-20% increase there is a 0% reduction in demand. I expect Rivian will have further price increases to keep pace with Tesla if they continue to increment prices several times per year while demand continues to outstrip production – and Tesla is building a helluva lot of cars, but an order today (March) with Tesla has an ETA of August … 6 months' backlog is damn strong demand for four models of car that have gone up 20% in a year and haven't changed (much) in 2 years … every other car marker is asking for some of that …

 

[Friscorays]

...There exists a small chance of possibility that, especially for LE reservation holders, the message was sent out erroneously ....

No there is not. That sort of error would have been corrected within minutes.

 

[Friscorays]

I'm guessing the number of cancelled pre-orders is in the dozens or hundreds.....

You are delusional.

 

[eggpaul]

So, June 2021, then July, then September, then oct-november. Then the so called November Guide contact. Then they tell most of us March April. Then on the eve of deliveries they say "pay us more or wait until 2024" wondering if this was the plan since June 21.

 

[E.S.]

No there is not. That sort of error would have been corrected within minutes.

Right, and you still get mail on a "timely" basis? The dust hasn't settled 100% completely yet. Again, there exists the small possibility that they did do so erroneously, or they may decide a reversal. One never knows. If it does, then great. If it doesn't, well people still have the option to cancel.

 

[Friscorays]

Right, and you still get mail on a "timely" basis? The dust hasn't settled 100% completely yet. Again, there exists the small possibility that they did do so erroneously, or they may decide a reversal....

Email timely? Yes, almost instantaneous actually.
Small possibility of error? Yes, very small (0.0% to be precise).
Reverse course? Within realm of possibility given how much shit is currently hitting the fan but I can't imagine that the reaction was not anticipated so I would bet no here as well. Even if Rivian does recognize the error of its ways, they can't reverse the bitter taste in many of our mouths from the way they handled the entire thing.

 

[Friscorays]

Hello

I really need to turn off email notifications for this thread.

?

Take it up with the OP, I blame him entirely!

 

[E.S.]

Email timely? Yes, almost instantaneous actually.
Small possibility of error? Yes, very small (0.0% to be precise).
Reverse course? Within realm of possibility given how much shit is currently hitting the fan but I can't imagine that the reaction was not anticipated so I would bet no here as well. Even if Rivian does recognize the error of its ways, they can't reverse the bitter taste in many of our mouths from the way they handled the entire thing.

I said mail, not E-mail. Don't be "that guy", OK?

If you want to believe this is a dead horse, that's all you. To me, there is a small chance this might turn around. If it does, well then it's somewhat of a progress. If it doesn't, then people can opt out all they want. No one is forcing any of you to stay.

 

[GaryL]

So I did a few back of the envelope calculations. Please remember these are national numbers so your milage will very. Assuming a 15% of gross income rule for car expense and not trading down on the truck equipment Rivian just went from being affordable to the 92.5 percentile of income earners and above to 95.5 percentile and above. As far as claiming they can recapture the lower group with the 2 motor without any usable range model, given Rivian's history I consider it Vaperware.

 

[astonius]

A long overdue and poorly communicated price increase is not a sham or a bait and switch or any of the emotionally charged angry comments I've been reading here …
Car dealers "bait and switch" with ads they still run every day because … people are idiots … they'll read "$15,000 below invoice!*" and see the asterisk and see the fine print "two a this price" and go in to the dealership looking for a red Mustang and somehow come home with a 10% interest rate on a 7 year finance for a beige minivan … : ) … that's bait and switch.

You’re again using the legal definition, which I explicitly said this doesn’t meet.

Sponsored