If you factor the $7,500 in tax credit this still isn’t that bad of a deal. ( if it doesn’t go away by the time you take delivery)
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Rivian price increased massively - $15,500. Cancelled, I'm sure I'm not the only one.
- Thread starter Stook02ss
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If you factor the $7,500 in tax credit this still isn’t that bad of a deal. ( if it doesn’t go away by the time you take delivery)
No, they paid more for a different car than they originally ordered. (Where Rivian raised the price on the vehicle that they ordered.)
So Tesla’s failure to deliver their car as configured resulted in a price increase?…. Got it
I still think it’s a reasonable price for what it offers but I don’t need it and don’t want to spend that much on a vehicle. My model 3 is still awesome and the price increase makes it likely I won’t buy a Rivian anytime soon, or ever.
In a lot of cases people were refusing to take delivery of vehicles offered to them because they wanted the new version. So there is blame on both sides of the transaction...
This was bound to happen. The R1T and R1S pricing for quad motors, huge power, huge battery, trick suspension, etc seemed too good to be true. At least it seemed that way in 2021 when I started paying any attention to them.
I'll ask my wife what she wants to do with our R1T max battery pack reservation. I'm pretty sure she'll want to keep it, and I do too. We might change to the dual motors though just to save some money (still with max pack). Then again...I really want quad motors.
I'll ask my wife what she wants to do with our R1T max battery pack reservation. I'm pretty sure she'll want to keep it, and I do too. We might change to the dual motors though just to save some money (still with max pack). Then again...I really want quad motors.
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I see you haven’t tried to buy a car recently (new or used). Wife was looking to trade in Jeep for a new bronco….until we saw the dealer markup. $55k Bad Land all of a sudden dealer wants $70 to guarantee the bronco (with delivery “sometime” this year, like wtf?!?). Either way inflation is real. Even more real for a startup with no cash flow. They simply don’t have any the option of eating massive increase in supply cost….cost that is about to go up EVEN more given what’s going on in the worlds..
Get used to it people
dmd2005
Active Member
The price increase is even worse here in BC, Canada. With luxury vehicle provincial and federal taxes, that’s an extra $5K in taxes alone going from $124K CAD to $140K vehicle price. With taxes, that’s more than $180K for my original R1T configuration.
Gonna cancel my Rivian order and wait for the CT or 2024 Silverado EV I was lucky enough to preorder. Makes my decision easier and leaning towards the Chevy.
Gonna cancel my Rivian order and wait for the CT or 2024 Silverado EV I was lucky enough to preorder. Makes my decision easier and leaning towards the Chevy.
Legally, they can change the price however they want, but from a PR standpoint, it's absolutely stupid. The company has basically lost all of it's goodwill in a day.
I could understand a small increase, but $16-$20k increase is ridiculous.
I could understand a small increase, but $16-$20k increase is ridiculous.
That markup reflects the supply/demand, not inflation. If it were a materials and inflation issue it would be reflected in the msrp. At worse there would be some lag. That isn't the case though - yes there is an increase in msrp, but what you are talking about is at the dealer. You can argue that's because they now need to make more profit per sale due to fewer sales... but even that doesn't hold as much water since dealerships have taken action to reduce overhead and they still have income streams from things like maintenance and repairs (which are now much less impacted than it was early in the pandemic).
It's Rivians right. No doubt about it, but Mark my words, this is going to really kill their projected growth. It's going to crush it. Thank God for them they have a massive slush fund.
So you're figuring in a $7,500 tax credit?
The revised packages put a cap at $80,000 for SUVs. If this passes, you won't get jack crap if you buy a R1S with the quad motor, or even the adventurer trim with bigger battery and optional paint.
This is a perfect storm for Tesla but sad for the industry.
Tesla has the capital and suppliers to keep the overall costs of new programs lower. They also can now target these prices and be incredibly aggressive to beat these prices probably keeping prices quite a bit better. Tesla will beat these prices easily. On top of that you get a heat pump, the range will be higher and you'll have a real network for charging. If you need a truck and can get over the look, Tesla is gonna reset the truck market.
Tesla has the capital and suppliers to keep the overall costs of new programs lower. They also can now target these prices and be incredibly aggressive to beat these prices probably keeping prices quite a bit better. Tesla will beat these prices easily. On top of that you get a heat pump, the range will be higher and you'll have a real network for charging. If you need a truck and can get over the look, Tesla is gonna reset the truck market.
No joke, Tesla's dominance and profit margins are so great that I had someone telling me they need to be broke into different companies.... that their market dominance was just too great. Obviously BS and someone that knows jack about the EV world, companies or business/economy.... but it was a hell of a compliment lol.
I asked him how? No joke.... he argued the government should split them into a luxury brand and an economy brand! SMH
What’s the SEC violation here? Raising prices? If that’s the case name me publicly traded company that’s hasent raised prices ridiculously last several months?
also I don’t see the SEC picking on Tesla. You had the CEO of a publicly traded company making up stuff to manipulate the stock price (allegedly but his reasoning is not relevant) and being dumb enough to post on social media. That deserves scrutiny. And I sure as heck don’t trade on inside i
oh definitely on the dealers. Those clowns are gouging HOWEVER, car prices in general are up more than usual and a big part of that is supply chain and inflation related (actually the two go hand and hand but anyway….).
Also I don’t believe we will see much impact on Rivian’s growth rate as anyone buying truck at $70k should be able to comfortably afford it at $90k. Otherwise I suspect they may be over extending themselves and thus making bad financial decisions if they are that elastic. So I guess I’m old school in that at the luxury and/or high performance range (ie over ~$70k) I believe that buyer is somewhat less elastic than say someone who’s previous whip was a friggen Honda Accord or something. For example when Tesla jumped the price of the refresh S LR from like ~$89k to like $104k ( for my spec) it didn’t really change my calculus. I don’t think I’m unusual for buyers in that market. Again just my take on this
Merrill
Merrill
This is very sad, not good for the company and not only did they raise prices now instead of getting my R1T next year it will be 2024. I’m waiting to get the email on how much more my Rivian will cost then will have to decide if I want to keep the reservation. I want to see the BEV market thrive and this is not helping.
I've got to disagree with you on the affordability. $20k is a lot of money. I don't make a ton compared to some people here, household is around $200k. But, seeing as I'm buying a new home soon, that extra $20k is a lot to me, especially over a 5 year loan. I'm dropping $30k down. That means my payment would now be 50% higher at $90k than at $70k. There's nothing small about having a car payment that's 50% higher.
Also, being over $80k means it may not qualify for future tax deductions, raising the difference between the two even more.
Bare minimum it will go up $14,500, unless you go with massively less capable vehicle than you originally booked. If you are willing to go with the bottom model, dual motor instead of quad, AND 260 mile range instead of 316... you can get it starting at $72,500 lol
Are you still talking about Rivian - or the Cybertruck?The other issue I have is since I would not take delivery until 2024, what keeps them from continuing to raise the price. What excuses will they come up with to justify another price increase.
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