Rivian: we’re out.

[Forager]

Unofficially out in the preorder. I will be canceling next Friday if I don’t hear anything promising before then.

Still holding my stock. I’m not interested in taking a bath to send a message, been there and done that. This was always a long term thing, if it wasn’t I would have sold way back at $150.

Sponsored

 

[Mysta]

I'm out and just placed an order for a Defender 90 - final build came in at $2K less and guess what, the $1000 deposit provides PRICE PROTECTION! They will not gouge me after the fact. That is how you build customer loyalty. Rivian should be considered click bait.

May want to double check that. A defender owner ordered a v8 and ended up not buying it because they were charging 80k over msrp when it arrived.

 

[Max]

Too many "unofficially" out posters. Rivian doesn't feel the results of their actions until you are "officially" out. I cancelled yesterday. At that price point, just doesn't have the value anymore, especially to make compromises to go with Rivian. The price made the compromise worth it. Now that's gone.

Had hedged my bets by ordering an F-150 Lariat Lightning. Order was confirmed last week and price LOCKED for $78,000. Far more truck than the Rivian, which was at $78K and jumped to $95K yesterday. Was on the fence about which one to get. I guess I should thank Rivian as I was driving myself nuts trying to decide. Made it a no-brainer. My F-150 is already in production and due by June. Will hold me over until the Silverado comes along.

I am OFFICIALLY out as of yesterday!

Just sold all my shares. Will cancel in a week.

 

[Teksashorns]

Best of luck to you Rivian. Clearly you have no idea how to take care of customers. I doubt the company sees 2025 if this is how they treat customers. Order cancelled.

 

[Redline]

Some really irrational people here. Selling your stock now because of emotions is an awful idea. I bought more calls into this.

 

[TWorth]

I’m out of my R1S as of this morning. It may be one of the most unprofessional moves I have ever witnessed a company to do. I put my deposit down in 1/2020, well after many, but still some time ago. This deposit was for all of us a real vote of confidence on an unproven MIT graduate, with an unproven product operating on an unproven battery layout. As such, we are literally the original clients. Rule # 1, do not treat customers poorly, particularly the initial clients. I feel absolutely misled and wish that every reservation holder would cancel their order simply based upon principal. I think thousands of orders being cancelled might be the shot across the bow RJ needs to understand this move was ill advised and bad business. My configuration went from $83,000 to $101,000. It’s a disgusting mark up far in excess of whatever supply chain shortages they are claiming. Sorry for the rant, just very disappointed here in NC.

 

[EVTrucking]

One of the main attractions to Rivian was it’s price so the rub is whether they intentionally kept it low to get a pile of pre orders and a good IPO. We’ll never know.

Rivian’s prices are now realistic but at a price point for folks who may or may not be able to afford it but are willing to do anything to get what they want.

Once folks have some time to get over the price hike shock the new normal in Normal will be rocking and rolling again.

 

[BadKarma!]

I’m out. Silverado EV already on order. Saving like crazy to try and pay for it. The new difference in price doesn’t justify loss of range, charging speed and Supercruise.



Same here. I have a close friend well entrenched at Chevy and stated the same thing. I'm hoping the same will bode true for GMC.

That said, I realize we will have to deal with inflation but not nearly at the level Rivian has pulled.

 

[Freddie]

I have pulled the trigger and cancelled my R1S order today. Even if they reverse their decision, which I am not expecting, I would like to stay out of this rogue company which doesn’t value its customers.

 

[totmafang]

 

[GMK83]

I mentioned in a different thread, but I canceled my R1S and flipped my Lucid Air Grand Touring reservation to a confirmed order. It's not unexpected that they had to increase price, it's the manner in which they did this and the timing. I was a huge Rivian fan, but I've lost significant respect.

 

[GOFAST]

Cancelled this morning - this was the Goldilocks truck …..just couldn’t justify it anymore

 

[Cbarwick]

I'm out and just placed an order for a Defender 90 - final build came in at $2K less and guess what, the $1000 deposit provides PRICE PROTECTION! They will not gouge me after the fact. That is how you build customer loyalty. Rivian should be considered click bait.

This is also what I am going to purchase instead

 

[Tim-in-CA]

I wonder how many NEW reservations Rivian has received in the last 24hrs?!?!?!?

 

[Max]

Some really irrational people here. Selling your stock now because of emotions is an awful idea. I bought more calls into this.

Tesla succeeded despite all the shorts because there were a lot positive "emotions" around it. People kept buying it's stock because they 'felt' good about the company despite all the professionals shorting it. Granted the company overall did execute well and government regulations helped but the emotions of customers around the company was the main indication of the success. Casual traders that don't have access to the inside info or don't want to read the news everyday and invest long term do it based on the vibe. Even warren buffett slept in a hotel room to get a feel of it before he bought. Once the love is lost, that is relevant piece of info. I have no doubt with this much capital, they really need to screw the pooch to go out of business and stock will likely to go over where it is today either tomorrow with another news or a year from now but checking out the stock of a company you don't like everyday even if it may make you a few bucks is not worth it for some of us. I bought at $52 and was planning to keep it long term. The truth is, I don't feel bad about not selling at $70 and if it hit $200+, I won't feel bad about selling at $54. Dumping it like a crazy old X feels good already. There are other ways to make money.

p.s. It is not all about emotions. I just have no confidence in the company anymore.

Sponsored