Did anyone else get a phone call from Rivian last night?

[Surfnturf]

Last night for the first time ever I got a VM from Rivian. I have gotten all their generic emails but I have never been personally contacted. It was so hard to make out the VM because of all the background commotion but I believe they were reaching out to verify if I still wanted my reservation I canceled. I feel like they are now making a really strong push to get these cancellations back on the books for their March 10 deadline.

does this seem like desperation?

like I said I have never been contacted directly. I am Dec 2018 order holder that had April-May delivery for a LE R1S.

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[Cway]

No call received here. My reservation is 2 months later (Feb 2019) with a May-June delivery window.

 

[Surfnturf]

No call received here. My reservation is 2 months later (Feb 2019) with a May-June delivery window.

not going to lie. Getting a phone call was a nice touch and not another informal email. Kind of made me feel like my business means a little more to them.

 

[MoreTrout]

Well the call very likely was an inquiry about your plans on reinstating your order. As for the earnings call on Mar 10th, my guess is they are just going to give the # of preorders they had as of Feb 28th or Jan 31st, acknowledge their huge blunder in price increase strategy, and say they won't release any updates on current # of orders or cancellations until they have reached out to each and every one of them. Not entirely dishonest, but somewhat of an easy out on just how bad the result of their blunder was on order numbers.

 

[kpx110]

Well the call very likely was an inquiry about your plans on reinstating your order. As for the earnings call on Mar 10th, my guess is they are just going to give the # of preorders they had as of Feb 28th or Jan 31st, acknowledge their huge blunder in price increase strategy, and say they won't release any updates on current # of orders or cancellations until they have reached out to each and every one of them. Not entirely dishonest, but somewhat of an easy out on just how bad the result of their blunder was on order numbers.

I didn't cancel ... so wouldn't get a call. But I think 70K+ (commitment) is worth a phone call. So I would applaud them doing so. They are in a really tough position. There is never anything locking people in to deliveries so they are really rolling the dice (along with us with the uncertain delivery windows). They really can't know how likely someone is to cancel once the process starts - but they can be sure cancelled reservations aren't going to get to the back of the line and do it over again. So expending some effort to reinstate cancelled reservations is a worthwhile investment IMHO.
AFAIK - they planned to always use thru 2/28 for earnings period.... of course knowing what just happened - that leaves a lot of questions.

 

[Ladiver]

I don’t think desperation as they would be happy for some cancellations. I think it’s more like they need to figure out how to proceed and set delivery schedules all over again.

 

[atlastracer]

Well the call very likely was an inquiry about your plans on reinstating your order. As for the earnings call on Mar 10th, my guess is they are just going to give the # of preorders they had as of Feb 28th or Jan 31st, acknowledge their huge blunder in price increase strategy, and say they won't release any updates on current # of orders or cancellations until they have reached out to each and every one of them. Not entirely dishonest, but somewhat of an easy out on just how bad the result of their blunder was on order numbers.

I would love to know just how many actual cancellations happened. But we won't get that answer. Just the final number next quarter once the bulk of them are reinstated. I'm sure there will be a small number of folks who don't reinstate their preorder.

 

[JeremyMKE]

I don’t think desperation as they would be happy for some cancellations. I think it’s more like they need to figure out how to proceed and set delivery schedules all over again.

Another consequence of this unforced error...

 

[Surfnturf]

Well the call very likely was an inquiry about your plans on reinstating your order. As for the earnings call on Mar 10th, my guess is they are just going to give the # of preorders they had as of Feb 28th or Jan 31st, acknowledge their huge blunder in price increase strategy, and say they won't release any updates on current # of orders or cancellations until they have reached out to each and every one of them. Not entirely dishonest, but somewhat of an easy out on just how bad the result of their blunder was on order numbers.

I know that their numbers will probably only report up to the end of February but there most definitely will have to be mention of this debacle to all the shareholders. Because everyone really wants to know how much business did they actually lose? All current information is public information leading up to March 10. If I were a shareholder heavily invested which I am not I most certainly would want to know immediately if everything is back on track. They can't ignore this on March 10 which makes me feel like they are scrambling right now. At the end of the day I am hoping they were able to recover a bunch of the cancelations.

 

[johnking]

Last night for the first time ever I got a VM from Rivian. I have gotten all their generic emails but I have never been personally contacted. It was so hard to make out the VM because of all the background commotion but I believe they were reaching out to verify if I still wanted my reservation I canceled. I feel like they are now making a really strong push to get these cancellations back on the books for their March 10 deadline.

does this seem like desperation?

like I said I have never been contacted directly. I am Dec 2018 order holder that had April-May delivery for a LE R1S.

My take. They have their quarterly financial reporting on March 10th. Possibly their top priority is to reinstate all the cancelled reservations as that will be something they have to address in the call. There will be questions on this and they would prefer that count to be low especially with so many screenshots of cancellations floating around in all social media forums.

Their systems might need more time to be updated and that's why these phone calls to get a verbal confirmation!

 

[Friscorays]

I would love to know just how many actual cancellations happened....

Somebody in another thread claimed to have a source that said 12k cancellations within 24 hours of announcement.

 

[Surfnturf]

Somebody in another thread claimed to have a source that said 12k cancellations within 24 hours of announcement.

Wow!

 

[Scoiatael]

My take. They have their quarterly financial reporting on March 10th. Possibly their top priority is to reinstate all the cancelled reservations as that will be something they have to address in the call. There will be questions on this and they would prefer that count to be low especially with so many screenshots of cancellations floating around in all social media forums.

Their systems might need more time to be updated and that's why these phone calls to get a verbal confirmation!

Yeah, I bet there engineers will be working overtime this weekend to reinstate people's orders and add a separate configurator for people who ordered before March 1.

 

[Rise1Set]

Last night for the first time ever I got a VM from Rivian. I have gotten all their generic emails but I have never been personally contacted. It was so hard to make out the VM because of all the background commotion but I believe they were reaching out to verify if I still wanted my reservation I canceled. I feel like they are now making a really strong push to get these cancellations back on the books for their March 10 deadline.

does this seem like desperation?

like I said I have never been contacted directly. I am Dec 2018 order holder that had April-May delivery for a LE R1S.

No. It’s not desperation. It’s them following through with the sentiment in RJ’s letter that they made mistake and he wants to rebuild trust and provide better communication.

And look at that… a day later they are providing better communication by calling you instead of emailing you again. Make sense?

It also makes sure you get the message. What if you missed the email.

My take is that this is a genuine effort to make things right and make sure those who still want the car, that they get it.

great follow through on a recent promised.

 

[BillyBob]

^^ Agreed.
At least thats what the optimist side of me is thinking...

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