It rarely makes sense to switch from gas to electric for fuel cost savings. The math just doesn't really support it in the vast majority of situations.
That's my exact thought process. Rivian has been one of my biggest losers and it seems like it will stay that way for the long haul. So it probably makes sense to sell at a loss and use that money in other investments that will grow.
It does for me. My electricity is 10 cents /kWh at home, and free at the office (if I need it). Much cheaper than gas for an similar truck.
And you purchased a vehicle that was probably close to $100k. The math doesn't make sense. If gas prices are your reason to buy an EV, you're still in the hole.
I could have bought a gas truck that was just as tricked out for about the same cost (less than $100k, FYI) and would be getting destroyed on gas costs. Just because I could afford the vehicle that I have doesn't mean I magically don't care about the cost of ownership - and electricity is cheaper than gas for me. I also save money on maintenance - another factor when I decided to purchase my truck.
Like I said, if the price of gas is the reason you purchased an EV, then the math doesn't make any sense. It rarely does. You didn't get an EV to save on fuel costs, so don't try to suggest that you did.
This is the second time where you have missed my points: 1. Where I said "fuel" costs weren't the only reason why I got the truck, and 2. I actually am saving money by using electricity to power my truck vs gas.
I’m watching this thread and wondering if you even own an EV? You don’t own a Rivian according to your profile. I’m thinking you only own the stock and are trolling these forums for investment Insight.
Boy did you take a wrong turn. Let's start again. You commented that if gas prices rise, it will turn people towards EVs. I said that higher gas prices is a stupid reason to switch from ICE to EV. Why? Because it doesn't make sense financially. This was generally what we were talking about. As for you and your vehicle, it doesn't matter if you are saving money on fuel. Buying an expensive EV to save money on gas isn't a smart financial decision. The math simply doesn't math. If you can't figure that out for yourself, then nothing I can say will help you. But you and I both know that you didn't buy an EV to save money.
I think that's a real possibility. I'm probably going to sell and move the money into other investments. One stock that I made a decent amount of money on is QuantumScape. They are doing into solid state battery technology. I already took my profits there just yesterday and left my original investment in place. Selling Rivian will help offset those gains.
I never said that - that was a different poster.
Then why did you insist that it wasn't possible for me to do so?
The cost of fuel wasn't the only factor. You seem to keep ignoring that aspect of my decision making process.
And here we are - you cannot definitively make that statement without knowing my finances. When I tell you that it saves ME money vs an ICE truck, you really should take that as fact. I am not implying that it does so for everyone, just me.
I bought my Rivian to support a company with worthwhile values in a time of needed transition. It's by far the most expensive vehicle I've ever, or will ever purchase. It's also the most awesome vehicle I have ever or will ever purchase.
