? RJ's Letter -- Making it Right -- REVERSING THE PRICE CHANGE FOR PREORDER HOLDERS

[RivianXpress]

Not sure if this was a blunder or marketing genius?! Now we all feel like we have a great deal - going back to her original prices …oh well, all is well that ends well!

Now no one is going to get upset when they’re delivery is delayed.. again!


too s00n?

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[AllInev]

What the hell is happening? I just rage-purchased this POS and now what am I supposed to do with it?

 

[Nermal]

I'm not going to say that I'm in any way disappointed by the reversal.

I did think at the onset of this mess that they could have done different increase for pre-order vs. new orders in an "we're all in this together, right?" way and communicated that sooooo much better. All we got was "price is increasing... supply chain... inflation... etc." with no bone thrown at all - extended membership, ship dates for sure, etc.

Thanks, RJ, for saying that some of us thought their pre-order was a price lock but the fine print is clear on "subject to change". Quick back of napkin calculation on avg. 15k on 80k pre-orders makes this a 10 figure swing I wouldn't expect a well run business that's in it for the long haul to take all on its own.

I'll take their words at face value and be very open to seeing how they learn from their mistakes. Maybe we can all learn from this.

 

[Gib]

Dumb initial move on the increase!! I would have been happy with a 7% to 10” middle ground but i think they totally did the right thing by the pre customers..

 

[paariv]

I am talking with customer service through chat and they are adding my order to a reinstatement list. The rep mentioned that I will get my deposit refund still as that is being processed and will not need to pay the 1,000 deposit again for reinstatement. I feel that is wrong, but that is what was stated to me. A email within the week should be sent out about the order being reinstated.

I don’t understand this. They’re in the process of refunding your deposit, and that can’t be stopped. Once refunded, you won’t have a deposit down. If you still want a vehicle, you need a deposit, so of course you need to send the $1k back. What is wrong here?

 

[TDWRT1]

I am talking with customer service through chat and they are adding my order to a reinstatement list. The rep mentioned that I will get my deposit refund still as that is being processed and will not need to pay the 1,000 deposit again for reinstatement. I feel that is wrong, but that is what was stated to me. A email within the week should be sent out about the order being reinstated.

Not sure I am understanding. Do you think you shouldn't have to maintain your deposit? If so, why?

 

[kanundrum]

Did you pull the trigger, are you trying to back out of a replacement. I really don't want to take a bath on a year old truck if I decide to take the rivian.

I never cancelled. I was giving it a week until earnings call to see WTF was their ideology.

 

[raj]

Yes I was a complainer about the price hikes, but I think all the backlash resonated with RJ and Rivian. Therefore, I will reinstate my R1S order that I cancelled. Ordered the Model Y yesterday but probably keep that too now.

I did the same. Canceled and ordered Model Y, the evening of the price increase announcement. Will go back and re-instate my order. They will not win me back for a long time, but they did take the first step to restore my confidence.

 

[Gib]

Dumb initial move on the increase!! I would have been happy with a 7% to 10” middle ground but i think they totally did the right thing by the pre customers..

 

[E.S.]

What the hell is happening? I just rage-purchased this POS and now what am I supposed to do with it?

Rage throw it off a cliff?

 

[lunarbomb]

Congrats to all the pre 3/1 folks!

As someone who placed a deposit after the price hike, I can't help thinking about resale. It seems there will be a decent number of used Rivians out there that could potentially be available at a lower price and higher spec than my configuration before I even have the option to buy mine. Couple that with all the other EVs with imminent launches and it's going to be an interesting few years for us latecomers.

In the meantime, I'm stoked for all the pre 3/1 people. My neighbor and close friend is among you and I cannot wait to see his truck!

 

[hilld]

What the hell is happening? I just rage-purchased this POS and now what am I supposed to do with it?

I'll take that off your hands to restore.

 

[atlastracer]

I am talking with customer service through chat and they are adding my order to a reinstatement list. The rep mentioned that I will get my deposit refund still as that is being processed and will not need to pay the 1,000 deposit again for reinstatement. I feel that is wrong, but that is what was stated to me. A email within the week should be sent out about the order being reinstated.

That sounds right. They had to fix a bunch of Canadian (early) preorders a year ago and they ended up refunding us the $1000US pre-order deposit. Instead of asking for a new $1500CDN deposit they just show as $0 deposit in our config.

That just means when calculating the final price at purchase. I won't have the $1500 deposit taken off as already paid. So you'll end up paying the same total price. But it will be $1000 higher now at delivery because no deposit.

 

[LaunchGreen]

For those that were still going to purchase at 20% higher price, take that $15k or so and go buy RIVIAN stock right now at $50. You were gonna spend that $$ anyway, so might as well invest and make more later!! ?

I actually purchased some stock yesterday because I thought (and still do think) the price hike is a good business decision long term. I think they should have offered a discount to existing reservations.

I'm less bullish on the stock today since they have now locked in 1.5 years of losses.

Go build a model X (make sure you view purchase price) and come back and let me know how you feel about your Rivian price: https://www.tesla.com/modelx

 

[GoodbyeR1T]

I guess I need to change my name now. I'm cautiously back. Thank you Rivian for doing the right thing.

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