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astonius

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There seems to be a conflation of “affordability” and perceived value here. Those of us who have seen the quoted price stay steady since configuring over a year ago and even seen some deliveries without a single increase in the “estimated” price had every reason to believe it would stand, especially after receiving delivery windows which are weeks or months out.

A sudden, substantial, and retroactive change is a huge hit to the value psychology. Can I “afford” an additional $12,500 for the same truck? Sure. But the value proposition has changed. That combined with the piss-poor communication, delays, and the fact that a lucky coastal few who already took delivery get their price honored is a total slap in the face to those of us who plunked down $1,000 three or more years ago.

I will not be keeping my preorder. I will cancel or sell to anyone who is naive enough to buy into a company’s product after this debacle.
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White Shadow

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You don't have to sell a product to put out a price. It's called a pre-order price. Duh.
Thank you, Captain Obvious. I'm just thankful that they've been selling all those vehicles at the initial pricing since 2018. You know, because this is just their very first price increase. ? Gotta laugh at the silliness here....
 

GOFAST

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Going to be hard to capture 10% of the EV market share now. What was borderline niche has become full niche for a selective group of buyers. $73K was pushing it for me, but was excited for the EV opportunity. $89K is now way too steep and my configuration is basic LA silver 21" wheels, power tonneau, charger and crossbars.
 

Guy

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In order to stay within my budget, I need to downgrade to a spec that won't deliver until 2024

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In order to stay within my budget, I need to downgrade to a spec that won't deliver until 2024

Come 2024, I guess I just bend over and have Rivian adjust the price again?
By 224 the Lucid Gravity and Kia EV9 will be out so there will be competition.
 

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AllInev

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If they had to make this decision, then they must really be in financial dire straits or company ethics just got thrown out the window. Either way, idiotic move!!! Really insultingly dumb gesture to early supporters.
Last time we (the public) were updated, Rivian had somewhere between 15-18 billion in cash. Not sure that counts as financial dire straights?

Today, Rivian confirmed they don't give a sh#t about the reservation holders. We were used as a way to show investors their was interest in their vehicles. We were all a tool. A small handful of pre-orders got delivered a truck at the initial price and Rivian will broadcast that to the world!
 

Zoidz

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I'm mostly upset that the R1S is only available in a 7-seat configuration now. I don't need 7 seats. I'd much prefer extra cargo space.
The third seat folds down flat. We don't have specs, but I think you are way over estimating the useful amount of additional cargo space.
 

Mysta

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A lot of people forget that Tesla sold Model X/S for like 180k then a few months later without warning dropped them like 60k. I feel like that's a slight to earlier adopters more than 20k increase before.
 

Gabe1aron

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Dont try to defend Rivian. Unless you are a shill for the company. Im sorely disappointed in this company. They Have severely damaged their reputation. Unless they honor their prices or at least walk it back a fair amount they are done
 

electruck

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Going to be hard to capture 10% of the EV market share now. What was borderline niche has become full niche for a selective group of buyers. $73K was pushing it for me, but was excited for the EV opportunity. $89K is now way too steep and my configuration is basic LA silver 21" wheels, power tonneau, charger and crossbars.
The R1 was never intended as the platform to achieve market share.
 

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White Shadow

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I understand why people think impulsively that this will tank the stock price and sure it's going to cause some bad press....Teslarati bout to be lit tomorrow....but selling less cars at a higher margin is good for business as long as they can still max out their ramping capacity. Especially if their original pricing was very low margin or even at a loss which is very possible.

I felt like the truck as priced yesterday repented a ridiculously good value. I still think it represents good value relative to what else is available, but that doesn't mean it's approachable for everyone even if the value is good. Not everyone needs a 3 second 0-60 rocket sled that can tow 11,000 pounds.
That's true, but you have to remember that the Rivian speculation is based largely by the huge amount of pre-orders. This shouldn't be a surprise for a company that only recently went public and hasn't sold hardly any vehicles. I think the stock is going to tank short term. But I'm no expert....I might be wrong. Either way, buying at $55 is probably not a good move at this point.
 

Rhidan

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I bought more stock 2 hours before the email today.

welp, I think the dream is dead.
 

Gabe1aron

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This company is going down. They are desperate and I’m out.
 

paariv

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So if Rivian had increase the price 20% over the course of 2021 in $1,000 increments, then you would have been fine with it?
Yes. Then we wouldn't be in a situation where choosing a different color combination, which put you out of the first batch of real customer vehicles, costs you over $10k by surprise.
 
 




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