Rivian Confirms “Well Over 100,000 R2 Pre-Orders” To Date

[Dark-Fx]

I’m concerned at how low the R2 reservations are at this point. We are 4.5 months from the reveal and to have less than one years worth of full scale production of the R2 at Normal only, without Georgia, is an issue.

For comparison, the Cybertruck had 250k reservations

lol

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[kurtlikevonnegut]

I’m concerned at how low the R2 reservations are at this point. We are 4.5 months from the reveal and to have less than one years worth of full scale production of the R2 at Normal only, without Georgia, is an issue.

For comparison, the Cybertruck had 250k reservations within a week of the reveal and that vehicle was priced $60-100k. Reservations grew to over 2 million dispute the fact that a lot of people can’t stand the look of the Cybertruck. Sure a huge majority of those reservations will never convert to an order, but it does indicate general interest. Both R2 and Cybertruck had the same $100 refundable deposit.

The R2 is supposed to be Rivian’s mass market vehicle, but reservations aren’t backing up that claim. Some may argue that Rivian is focusing to sell more R1s but most people can’t afford an $80k+ vehicle. Those people would be reserving an R2. Where are the masses?

The Cybertruck garnered massive reservations based on a lie. I'm sure if Rivian advertised the cost of the R2 as $25,000 they could get a million + reservations as well but it wouldn't help them actually sell them once they are made.

At this point, reservation numbers are pointless. They need sustained demand once R2 hits the streets, not inflated reservations that aren't converted to sales.

 

[Asmithprimus]

I struggle with R1 owners getting preference as well as an R1 won't fit in my MN garage. I have been patiently waiting for a Rivian that will.

However, I guess the hedge is that if G1R1Ts get down to the $45k range due to people dumping those and grabbing an R2, maybe I snap one of those up and just risk leaving it outside during our Siberian winters and take the ICE those days.

 

[MoreTrout]

I’m concerned at how low the R2 reservations are at this point. We are 4.5 months from the reveal and to have less than one years worth of full scale production of the R2 at Normal only, without Georgia, is an issue.

For comparison, the Cybertruck had 250k reservations within a week of the reveal and that vehicle was priced $60-100k. Reservations grew to over 2 million dispute the fact that a lot of people can’t stand the look of the Cybertruck. Sure a huge majority of those reservations will never convert to an order, but it does indicate general interest. Both R2 and Cybertruck had the same $100 refundable deposit.

The R2 is supposed to be Rivian’s mass market vehicle, but reservations aren’t backing up that claim. Some may argue that Rivian is focusing to sell more R1s but most people can’t afford an $80k+ vehicle. Those people would be reserving an R2. Where are the masses?

Try using something other than Tesla that has over a decade of building a fanboy base head start. I think the Hyundai Ioniq 5 is a pretty solid competitor from a well known vehicle OEM. They only sold just under 34k of them in the U.S. in all of 2023, and just over 18k so far this year. For a startup company that the majority of residents in the U.S. have never even heard of, 100k is pretty impressive.

 

[KRG]

I’m concerned at how low the R2 reservations are at this point. We are 4.5 months from the reveal and to have less than one years worth of full scale production of the R2 at Normal only, without Georgia, is an issue.

For comparison, the Cybertruck had 250k reservations within a week of the reveal and that vehicle was priced $60-100k. Reservations grew to over 2 million dispute the fact that a lot of people can’t stand the look of the Cybertruck. Sure a huge majority of those reservations will never convert to an order, but it does indicate general interest. Both R2 and Cybertruck had the same $100 refundable deposit.

The R2 is supposed to be Rivian’s mass market vehicle, but reservations aren’t backing up that claim. Some may argue that Rivian is focusing to sell more R1s but most people can’t afford an $80k+ vehicle. Those people would be reserving an R2. Where are the masses?

I don’t think the masses are going to line up to pre-order a midsize suv EV 2+ years in advance; especially not these days when EV hype is mostly over. The Cybertruck and Model 3/Y were different scenarios entirely. The masses will, when ready for a new car, likely be very interested in the R2 and it’ll I think it’ll steal lots of sustained sales momentum from the current class leaders.

 

[thrill]

...when EV hype is mostly over...

https://www.edmunds.com/electric-car/articles/percentage-of-electric-cars-in-us.html#:~:text=If%20we're%20talking%20about,1.6%20percentage%20points%20from%202022.

The electric vehicle market share in the U.S. (expressed as a percentage) varies based on the metric you're looking at and your definition of an EV. If we're talking about new vehicle sales, the percentage of electric cars in the U.S. was 6.8% in May 2024, according to Edmunds sales data. This is an improvement of 1.6 percentage points from 2022. Our EV market share figure does not include plug-in hybrid vehicles (PHEVs), which we measured separately and had its own market share of 1.7% in May 2024. EVs and PHEVs combined made up 8.5% of the vehicles sold in May 2024, which is still far from the 82.4% of gas-powered vehicles sold in that same month.​

​

What gets left out of many conversations is that EV market share continues to grow albeit at a slightly lower positive slope than previously. The "traditional manufacturers" just suck at it.

 

[ndmiller]

I think the Ford Lightning had 200K+ reservations, I was one of the holders. Then the price went from intro of $55 to what you could actually order a $95K platinum and I was out. They sold about 24K lightnings in 2023. No bueno.

The've got 2-3 years to get this right, so I'm feeling good about my 2 reservations. Or I'll get a refund.

 

[KRG]

https://www.edmunds.com/electric-car/articles/percentage-of-electric-cars-in-us.html#:~:text=If%20we're%20talking%20about,1.6%20percentage%20points%20from%202022.

The electric vehicle market share in the U.S. (expressed as a percentage) varies based on the metric you're looking at and your definition of an EV. If we're talking about new vehicle sales, the percentage of electric cars in the U.S. was 6.8% in May 2024, according to Edmunds sales data. This is an improvement of 1.6 percentage points from 2022. Our EV market share figure does not include plug-in hybrid vehicles (PHEVs), which we measured separately and had its own market share of 1.7% in May 2024. EVs and PHEVs combined made up 8.5% of the vehicles sold in May 2024, which is still far from the 82.4% of gas-powered vehicles sold in that same month.​

​

What gets left out of many conversations is that EV market share continues to grow albeit at a slightly lower positive slope than previously. The "traditional manufacturers" just suck at it.

I meant the hype…the newness, early adopter excitement type hype that created like 800k preorders for Teslas. The sales are still there, most of them are not from pre-orders anymore.

 

[DeafPug]

I agree with others that if Rivian can meet the current schedule and keep the price at the 45k base price, they will do fine. Tesla had no trouble converting reservations on the Model 3 because it did match so closely to what everyone was expecting from the original reveal event.

Rivian seems to have very limited name recognition. At work (technology company), people know Rivian, but whenever I mention the Rivian R1T or R2 outside of work, the first question is “Who makes it?”. I‘m sure the order floodgates will open up as soon as the R2 starts showing up on he road in much larger numbers than the current R1 series.

Just, hit that target price point and make deliveries in 2026!

 

[midnightscavenger]

What's the logic in that when they're tying to bring in new customers?

Just guessing here, but I think it’s to build word of mouth and excite the existing fan base. If you are an R1 owner and you love it enough to buy an R2, you will most likely tell others about how great Rivian is. Also, being the first to get an R2 is sort of a reward for the early adopters. I don’t have an R1, but I am waiting for my R2.

 

[Electron]

Price will be key in order conversion Rates. The Cybertruck is just too expensive for mass appeal. Rivian’s “$45k” R2 target seems optimistic to me with first deliveries perhaps being dual motor at $55k or so and Tri-Motor at $63k. The $45k tier maybe announced for later delivery with only a single motor and small LFP battery.

Agreed. The quoted starting price will highly likely be some base model that isn't appealing to most. Come 2025, if they can maintain even the starting price, I'd be surprised.

Fingers crossed there isn't a bait and switch.

I’m concerned at how low the R2 reservations are at this point. We are 4.5 months from the reveal and to have less than one years worth of full scale production of the R2 at Normal only, without Georgia, is an issue.

For comparison, the Cybertruck had 250k reservations within a week of the reveal and that vehicle was priced $60-100k. Reservations grew to over 2 million dispute the fact that a lot of people can’t stand the look of the Cybertruck. Sure a huge majority of those reservations will never convert to an order, but it does indicate general interest. Both R2 and Cybertruck had the same $100 refundable deposit.

The R2 is supposed to be Rivian’s mass market vehicle, but reservations aren’t backing up that claim. Some may argue that Rivian is focusing to sell more R1s but most people can’t afford an $80k+ vehicle. Those people would be reserving an R2. Where are the masses?

It's nice to see some outside of the box thinking. I'm with you. All these reservations mean nothing and you're right the numbers aren't adding up.

The conversion of R2 rsvp will be nowhere near the flashy numbers. Even in the good case scenarios it doesn't work out that way, unless you're Tesla.

So that 100,000+ number, great for keeping the hype train party going, but we shall see how things really turn out as there's a high hill to climb to even get there.

The Cybertruck garnered massive reservations based on a lie. I'm sure if Rivian advertised the cost of the R2 as $25,000 they could get a million + reservations as well but it wouldn't help them actually sell them once they are made.

At this point, reservation numbers are pointless. They need sustained demand once R2 hits the streets, not inflated reservations that aren't converted to sales.

Numbers are pointless indeed. It's all about the conversion rate and that's even if things go as planned. We need to sell R1s first and make it through two more quarters.

Try using something other than Tesla that has over a decade of building a fanboy base head start. I think the Hyundai Ioniq 5 is a pretty solid competitor from a well known vehicle OEM. They only sold just under 34k of them in the U.S. in all of 2023, and just over 18k so far this year. For a startup company that the majority of residents in the U.S. have never even heard of, 100k is pretty impressive.

HMG EVs have been built outside of the US and not eligible for the tax credit unless leased, yet was able to make a respectable dent in the EV market here in the US which is pretty impressive.

In Q4 HMG EVs will be built in the US so it will quality for the incentives.

In a lot of ways it's hard to compare a OEM giant like Hyundai with its bulk of the sales being ICE to Rivian which is a start up EV only company that's made in the US. Two very different class of vehicles as well, but I get your point.

If you look at the YoY percentages between the R1S and IONIQ 5 for example it paints a different picture. Again, two different class of cars so it's not really relevant.

I don’t think the masses are going to line up to pre-order a midsize suv EV 2+ years in advance; especially not these days when EV hype is mostly over. The Cybertruck and Model 3/Y were different scenarios entirely. The masses will, when ready for a new car, likely be very interested in the R2 and it’ll I think it’ll steal lots of sustained sales momentum from the current class leaders.

https://www.edmunds.com/electric-car/articles/percentage-of-electric-cars-in-us.html#:~:text=If%20we're%20talking%20about,1.6%20percentage%20points%20from%202022.

The electric vehicle market share in the U.S. (expressed as a percentage) varies based on the metric you're looking at and your definition of an EV. If we're talking about new vehicle sales, the percentage of electric cars in the U.S. was 6.8% in May 2024, according to Edmunds sales data. This is an improvement of 1.6 percentage points from 2022. Our EV market share figure does not include plug-in hybrid vehicles (PHEVs), which we measured separately and had its own market share of 1.7% in May 2024. EVs and PHEVs combined made up 8.5% of the vehicles sold in May 2024, which is still far from the 82.4% of gas-powered vehicles sold in that same month.​

​

What gets left out of many conversations is that EV market share continues to grow albeit at a slightly lower positive slope than previously. The "traditional manufacturers" just suck at it.

Yup. The bulk of the EV crowd of buyers have been exhausted. We need a faster adoption rate here in the US, but not forced. With it being an oil crazy Country, what needs to happen is to have EVs with much more range to exceed any ICE vehicle and EV Trucks that can tow just as far if not further. Even then people are scared of change so although it's lame that the US is taking so long to accept that EVs are the future, we'll trail behind other Countries who "just gets it."

I think the Ford Lightning had 200K+ reservations, I was one of the holders. Then the price went from intro of $55 to what you could actually order a $95K platinum and I was out. They sold about 24K lightnings in 2023. No bueno.

The've got 2-3 years to get this right, so I'm feeling good about my 2 reservations. Or I'll get a refund.

The Lightning price circus was a nightmare and they shot themselves in the foot big time.

 

[Florida Panhandler]

The wild card is the price of oil which now is managed quite tightly worldwide. Gone are the days of wildcat drillers or wayward nations defying cartel wishes. The recognition amongst the oil industry bigwigs now is that EVs are a real threat and pricing discipline is paramount to extending oil industry dominance. The point Is to keep oil prices from greatly increasing while at the same time keeping profits high. It’s a dangerous economic game where one false move could tip much of the world into EVs at a moment’s notice and don‘t think every oil executive around the world doesn’t know this.

 

[zjl19902003]

What's the logic in that when they're tying to bring in new customers?

The logic is, after placing a pre-order for an R2 and learning they will prioritize R1 owners, I bought an R1.




Just kidding. I’d get the R1 anyway.

 

[mpshizzle]

What's the logic in that when they're tying to bring in new customers?

I struggle with R1 owners getting preference as well as an R1 won't fit in my MN garage. I have been patiently waiting for a Rivian that will.

If you recall, they made this announcement when they were trying to flush as much inventory as possible before announcing gen 2. This was just another way to incentivize people to buy R1 along side crazy lease deals, etc.

Prioritizing R1 owners was more of a side effect than it was the purpose. I'm guessing that the wait will be much less significant than the wait was at the beginning of R1 production. I'd bet they'll probably catch up with orders fairly quickly

 

[KBabione]

We reserved our R2 on Launch Day as well and love our R1S. I'm hoping for a build after they've built 10,000 or so to help them dial in the manufacturing process.

My other thought on the R2 is that the first ones they sell will be the top-of-the-line tri-motor models with the highest margin. That will be followed by the dual-motor and then finally the "base" models. It wouldn't surprise me if the base models didn't become available until we see an R2/Gen2 release where they've had a chance to really dial in the costs to ensure that they're making money with each R2 sold.

No matter what, we'll be excited when they announce R2 pricing and availability and allow us to configure our build!

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