Rivian see US EV registration growth in January 2024, outpacing rivals

[SRO]

https://electrek.co/2024/03/15/rivian-rivn-hyundai-us-ev-registration-growth-january/

Rivian related portions:

Rivian and Hyundai were among the leaders in EV registration growth. Rivian’s R1S led the growth while Hyundai’s IONIQ 5 picked up the pace.

With Kia and Genesis included, Hyundai Motor topped Ford and Chevy with 8,262 registrations in January.

EV startup Rivian trended higher, placing fifth, with 3,818 registrations. Despite R1T numbers slipping 44%, the R1S picked up the slack, with registrations quadrupling.

Where does the T stand compared to all trucks. People seem to forget it is a truck.

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[KootenayEV]

You seem to not be aware. Trucks are by far a bigger market in the US. They sell multiples more than the next best selling vehicles such as the Tesla Model Y and Honda CR-V. The R1T just can’t compete in the truck market. There’s relatively very few that want an electric truck it seems even among EV buying crowd, let alone the broader truck buying crowd.

Are you really saying keeping the line for a few sales is better than putting those resources into building a vehicle that is more mass market in the R1S and R2? Rivian is not making money if you don’t remember.

Same line builds both T and S

 

[Hillbilly]

Rivian isn’t playing the price cutting game either. The R1T could surely use some help with sales. Either cut the price or cut the vehicle. Rivian isn’t in a position to be making niche vehicles.

I'm in the South. There is money down here. Rivian needs some non-granola commercials showing the R1T towing heavy boats/campers/trailers with ATVs, etc to the lake/Appalachia.

People just don't know what it is and what it's capable of. They see the size and think it's a maverick alternative and can't do big truck things.

 

[R1TS]

Where does the T stand compared to all trucks. People seem to forget it is a truck.

In the US, for the month of January 2024, here are the ICE passenger truck sales numbers:

Ford F-series - 48,702
Chevy Silverado - 34,124
Ram - 29,734
GMC Sierra - 18,355

total = 130,915

(As a comparison, Tesla Model Y was the best selling passenger sedan/SUV with 34,330).

Compare that to maybe 1,000 at best for the R1T.

 

[R1TS]

Same line builds both T and S

Just get rid of the T.
No need to complicate the lineup with almost a dozen trims that, in total, sell only maybe 1,000 a month.
Rivian can do a lot better by putting all those resources into the R2 and make them sooner than 1H 2026.

 

[SRO]

In the US, for the month of January 2024, here are the ICE passenger truck sales numbers:

Ford F-series - 48,702
Chevy Silverado - 34,124
Ram - 29,734
GMC Sierra - 18,355

total = 130,915

(As a comparison, Tesla Model Y was the best selling passenger sedan/SUV with 34,330).

Compare that to maybe 1,000 at best for the R1T.

I thought we were talking about EVs.

 

[fyton2v]

That’s it. The majority of people buy a truck because it can haul and tow. The R1T does neither of those things very well. If you don’t need the utility of a truck bed, you buy an SUV. Plenty of edge cases but edge cases aren’t mainstream. And if you’re going to lay down 90K on a vehicle, the mainstream is buying an SUV.

So I think price is a major problem for the R1T. People would more easily accept a utility vs EV awesomeness compromise if they lowered the price. It doesn't need to be the flagship product, because it’s a truck.

You seem to not be aware. Trucks are by far a bigger market in the US. They sell multiples more than the next best selling vehicles such as the Tesla Model Y and Honda CR-V. The R1T just can’t compete in the truck market. There’s relatively very few that want an electric truck it seems even among EV buying crowd, let alone the broader truck buying crowd.

Are you really saying keeping the line for a few sales is better than putting those resources into building a vehicle that is more mass market in the R1S and R2? Rivian is not making money if you don’t remember.

 

[fbkr]

Seems like it would make sense to just allocate more R1T production towards R1S.

Still only ~100 R1S in shop vs ~1,000 R1Ts.

 

[R1TS]

I thought we were talking about EVs.

Yes, we’re talking about how tiny the Rivian EV truck sales is relative to the overall truck market and the overall EV market.

Let’s not pretend the R1T is a great selling vehicle. It isn’t. The demand levers Rivian is using, the inventory of available R1Ts, these sales numbers, etc. all point to low demand.

 

[SRO]

Yes, we’re talking about how tiny the Rivian EV truck sales is relative to the overall truck market and the overall EV market.

Let’s not pretend the R1T is a great selling vehicle. It isn’t. The demand levers Rivian is using, the inventory of available R1Ts, these sales numbers, etc. all point to low demand.

The chart I was looking at had only EVs.

 

[RivRyan]

I'm in the South. There is money down here. Rivian needs some non-granola commercials showing the R1T towing heavy boats/campers/trailers with ATVs, etc to the lake/Appalachia.

People just don't know what it is and what it's capable of. They see the size and think it's a maverick alternative and can't do big truck things.

I’m in Chicago’s north suburbs, and have seen little growth in the Rivian population since I first started seeing them in the fall. I too think their marketing is most successful in a small niche that isn’t very important in the midwest.

 

[KootenayEV]

Just get rid of the T.
No need to complicate the lineup with almost a dozen trims that, in total, sell only maybe 1,000 a month.
Rivian can do a lot better by putting all those resources into the R2 and make them sooner than 1H 2026.

I just don't see what resources you think they would be freeing up. The line is already built and configured. Sure they could re-allocate the split to be more R1S then R1T, but I think they can already do that without any major changes.

 

[R1TS]

I'm in the South. There is money down here. Rivian needs some non-granola commercials showing the R1T towing heavy boats/campers/trailers with ATVs, etc to the lake/Appalachia.

People just don't know what it is and what it's capable of. They see the size and think it's a maverick alternative and can't do big truck things.

I feel like the R1T is trying too hard to appeal to ALL truck buyers by not being as big as the top 4 selling truck models and not being as small as the leading small trucks such as Maverick.

Those ICE trucks like the Silverado, RAM, etc are at least 1-2 feet—not just inches—longer. And, also wider. It’s just a small truck compared to ICE trucks. I don’t think many truck buyers are looking to downsize.

 

[Hillbilly]

That’s it. The majority of people buy a truck because it can haul and tow. The R1T does neither of those things very well. If you don’t need the utility of a truck bed, you buy an SUV. Plenty of edge cases but edge cases aren’t mainstream. And if you’re going to lay down 90K on a vehicle, the mainstream is buying an SUV.

So I think price is a major problem for the R1T. People would more easily accept a utility vs EV awesomeness compromise if they lowered the price. It doesn't need to be the flagship product, because it’s a truck.

The class V receiver and towing capabilities in the Rivian make it perfect for people that don't need or want to tow further than local lakes/campgrounds for a weekend away from it all. It's shocking that a truck this size can tow so much, range be damned. But people don't know what they don't know.

People that do tow a lot (like me before really looking into the R1T) assume that it's got the capabilities of a Tacoma, Maverick, or small SUV. I had a deposit down on the R1S for the wife (preprice hike) and didn't even think to look at the R1T as a potential replacement for my diesel for local towing until it was too late to get a second deposit down.

 

[Hillbilly]

I feel like the R1T is trying too hard to appeal to ALL truck buyers by not being as big as the top 4 selling truck models and not being as small as the leading small trucks such as Maverick.

Those ICE trucks like the Silverado, RAM, etc are at least 1-2 feet—not just inches—longer. And, also wider. It’s just a small truck compared to ICE trucks. I don’t think many truck buyers are looking to downsize.

Disagree. The biggest complaint us big truck owners have is that our trucks are ridiculously big. That's great when you're towing cross country, but it sucks when parking, turning, pretty much anything a smaller vehicle does better. I don't feel like the R1T cab is in any way claustrophobic (I can't put a whole pizza box on the center console arm rest like my big truck, but the frunk and gear tunnel make up for it).

Whenever I talk to another 2500/250 owner about the Rivian, I say it does all the things well that our big trucks do poorly. Diesel hands down for loading the bed or distance towing. Local stuff? Many of us have dump trailers/flat beds that the rivian is perfect for.

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