Rivian price increased massively - $15,500. Cancelled, I'm sure I'm not the only one.

[Stook02ss]

Thoughts on Rivian's price increase. Got an email today that said 'prices have been updated on your preorder', or something like that.

My R1S preorder went from $71,500 to $87,000. How insane is that????

Cancelled. I have no doubt this is going wipe out over half of their preorders... possibly 2/3 or more.

 

[Ralbright]

It’s disappointing, but not insane. Is there any comparable for less money? No…

People are going to complain, but at the end of the day it had to be done.

Have you priced anything lately material wise?

 

[Stook02ss]

It’s disappointing, but not insane. Is there any comparable for less money? No…

People are going to complain, but at the end of the day it had to be done.

Have you priced anything lately material wise?

A 20% increase in price is an insane increase. Have I priced anything lately? Yes, we all have. However, I don't know of any vehicle that I've ordered, waited months for, only to have the price increased by 20%. That's absurd.

Like I said, I cancelled. My guess is they are screwed. They make a nice vehicle, but its not that nice. Their dual motor only has a range of what they classify as '260+ miles'. That's now $72,500.

Before it was quad motor, 316 miles, $70,000. That was a bargain. Absolutely. But $84,500? No way in hell. I'm guessing they don't mind if they lose 60-70% of their preorders, because that's what's gonna happen.

Don't get me wrong, if that's what they gotta do, so be it, but that's one hell of a miscalculation. The fact they increased it all at once like that after taking years of preorders is what really gets me - a gradual price increase and honoring existing orders.....

 

[Ralbright]

A 20% increase in price is an insane increase. Have I priced anything lately? Yes, we all have. However, I don't know of any vehicle that I've ordered, waited months for, only to have the price increased by 20%. That's absurd.

Like I said, I cancelled. My guess is they are screwed. They make a nice vehicle, but its not that nice. Their dual motor only has a range of what they classify as '260+ miles'. That's now $72,500.

Before it was quad motor, 316 miles, $70,000. That was a bargain. Absolutely. But $84,500? No way in hell. I'm guessing they don't mind if they lose 60-70% of their preorders, because that's what's gonna happen.

Don't get me wrong, if that's what they gotta do, so be it, but that's one hell of a miscalculation. The fact they increased it all at once like that after taking years of preorders is what really gets me.

As I mentioned earlier. Show me a comparable for less…. I’ll wait

 

[Robotpedlr]

I just got the same note for my reservation. $79k R1T is now about $95. That is total BS. Tesla does it right when they have price increases, orders are protected.

 

[Robotpedlr]

As I mentioned earlier. Show me a comparable for less…. I’ll wait

Not the point… they set a price, you order, you should get that price. If they priced too low, raise it like Tesla does, but dont F the people with existing orders.

 

[Stook02ss]

As I mentioned earlier. Show me a comparable for less…. I’ll wait

Like I said, that's not the point. That's on them, it was an absolute bargain at what it was..... but that was its draw. Now its competing with actual establish luxury manufactures.

 

[Cosmacelf]

Yeah, I’ll be keeping my order. I’m not actually surprised. I always thought Rivian’s pricing was way too low. with any luck, this means I get my R1S sooner after the dust settles.

 

[Ralbright]

I just got the same note for my reservation. $79k R1T is now about $95. That is total BS. Tesla does it right when they have price increases, orders are protected.

Pretty sure late 2020 model X orders saw a 10k increase when the refresh was announced. Not the norm I agree, but times are crazy

 

[Ralbright]

Yeah, I’ll be keeping my order. I’m not actually surprised. I always thought Rivian’s pricing was way too low. with any luck, this means I get my R1S sooner after the dust settles.

This is where I’m at. It sucks, but everyone kicking and screaming about the price increase is being overly dramatic.

It had to happen, and it certainly isn’t a surprise given the pricing was listed years ago and was made abundantly clear that it was subject to change.

 

[Stook02ss]

As I mentioned earlier. Show me a comparable for less…. I’ll wait

Also, some people actually plan ahead. I purchased a MYP, got a Freemont car because I thought I'd only be keeping it for 18-24mo. I had expected to get a R1S when it was available.

Now I have a Freemont car I'll likely be keeping for much, much longer. Probably going to now order a second MYP in a year - I would have just preferred putting off ordering had I know the R1S was not an option.

 

[Stook02ss]

This is where I’m at. It sucks, but everyone kicking and screaming about the price increase is being overly dramatic.

It had to happen, and it certainly isn’t a surprise given the pricing was listed years ago and was made abundantly clear that it was subject to change.

They should have increased it gradually. You don't screw over people who have actually budgeted and been planning to get a vehicle. I understand adjusting for the market and resources, but *sugar* did not increase over night. They could have worked this in a long, long time ago.

 

[Cosmacelf]

They should have increased it gradually. You don't screw over people who have actually budgeted and been planning to get a vehicle. I understand adjusting for the market and resources, but *sugar* did not increase over night. They could have worked this in a long, long time ago.

Supposedly there was a Rivian exec who resigned/got fired around the IPO time. She alleged that Rivian knew they had to raise prices before the IPO but wanted to wait until after the IPO. Paging the SEC. But, oh right, only Tesla gets the proctologist exams.

 

[swaltner]

My R1T config jumped to $94,550. I cancelled my reservation from late 2021.

I'll keep my '03 Dodge Ram 1500 for my light pickup needs. While I'll still burn a small amount of gasoline, it's not worth $95k to me to be able to avoid burning my limited gasoline usage. In the last 3 years, I've only burned 250 gallons of gas total in the Dodge.

 

[glide]

Thoughts on Rivian's price increase. Got an email today that said 'prices have been updated on your preorder', or something like that.

My R1S preorder went from $71,500 to $87,000. How insane is that????

Cancelled. I have no doubt this is going wipe out over half of their preorders... possibly 2/3 or more.

If you think that’s bad, just wait to see what happens to these Cybertruck pre orders.

 

[Doc Brown]

If you think that’s bad, just wait to see what happens to these Cybertruck pre orders.

Yeah - waiting to see what everyone does when they find out there’s no $39,900 base model, $49,900 dual-motor, and that the top of line line Cybertruck is more than $69,900.

 

[MP3Mike]

Pretty sure late 2020 model X orders saw a 10k increase when the refresh was announced. Not the norm I agree, but times are crazy

That wasn't exactly the same situation, Tesla:

• stopped making the model/trim/configuration that people had ordered and released a new model/trim at a higher price.
  • A lot of people were expecting this, and placed orders hoping to be able to keep the old price. (Some just to sell and make the difference.)
• offered a $2k discount to people that converted their order to the new model/trim instead of cancelling.
• offered to keep the FSD option price the same as the original order. (another $2k discount)

Rivian is still making the exact same configuration that people ordered...

 

[Doc Brown]

That wasn't exactly the same situation, Tesla:

• stopped making the model/trim/configuration that people had ordered and released a new model/trim at a higher price.
  • A lot of people were expecting this, and placed orders hoping to be able to keep the old price. (Some just to sell and make the difference.)
• offered a $2k discount to people that converted their order to the new model/trim instead of cancelling.
• offered to keep the FSD option price the same as the original order. (another $2k discount)

Rivian is still making the exact same configuration that people ordered...

Wanna make a friendly wager on whether Tesla sells the Cybertruck at prior advertised prices? Donation to favorite charity?

 

[Ralbright]

That wasn't exactly the same situation, Tesla:

• stopped making the model/trim/configuration that people had ordered and released a new model/trim at a higher price.
  • A lot of people were expecting this, and placed orders hoping to be able to keep the old price. (Some just to sell and make the difference.)
• offered a $2k discount to people that converted their order to the new model/trim instead of cancelling.
• offered to keep the FSD option price the same as the original order. (another $2k discount)

Rivian is still making the exact same configuration that people ordered...

My point was to argue a previous comment that Tesla at leasts honors their pricing once an order is placed.

Regardless of how it transpired, people had to pay more for the car they ordered.

My stance here on the Rivian situation from the gate has been that Rivian made it abundantly clear that pricing and configurations were subject to change, and a deposit did nothing to secure the current pricing.

 

[McMoo]

Same boat and will cancel at $87,000 for an explore R1S. Waiting to see if they change anything. Could be an overreaction but I’ll probably dump half my shares too. It’s play money and I don’t want to support them anymore.