Rivian Reverses Price Bump for Pre-orders before March 1

CyberBC

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Link to letter from Rivian CEO with announcement:

https://www.rivianforums.com/forum/...g-the-price-change-for-preorder-holders.3800/

Seems like this needs a separate thread. I think this is very good news for CT pre-orders. It will make it much harder for Tesla to not stand by original pricing. Although, all of the techno additions such as RWS and 4 motors not to mention the BAW will complicate the issue.
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WildhavenMI

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$5k was already 2x too expensive on that camp kitchen, and now they want $6,750 for it?!. You wanna know the kind of camp kitchen I could buy/build for that much money? Heck, I could buy a competition-grade Yoder Smoker, a follow-behind trailer for it, and add a small solar arrray and LiPo battery to power a few outlets. Prob enough left over in the budget to build a sink with a water pump too.
 

ÆCIII

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They are copying what Tesla had to do with the original Roadster back when they first started. Not a bad move but they are still walking on a tightrope in a corner.
 

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$5k was already 2x too expensive on that camp kitchen, and now they want $6,750 for it?!. You wanna know the kind of camp kitchen I could buy/build for that much money? Heck, I could buy a competition-grade Yoder Smoker, a follow-behind trailer for it, and add a small solar arrray and LiPo battery to power a few outlets. Prob enough left over in the budget to build a sink with a water pump too.
I’ll probably keep a Coleman burner in the under-vault storage, a 5 gallon water bottle, and some tin camp plates and silverware. $300 tops. Likely weigh less than this too. Also easier to remove and store than this kitchen.

There is an audience for this kind of thing. It’s just not us. And… I don’t think it’s very big. Can do a bunch with the $60+/ month this is going to add to your payments.
 


ED_SFO

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I believe they need to remove the CEO, he clearly doesn't get it. What he just did was guarantee Rivian will never be profitable for the next 4 years if he's building these trucks all at a loss. At every shareholder meeting they will report more and more losses even tho they will be selling more and more cars. What he should've done was kept the price for the really first deposits say 2018 keeps their price....2019 pays 5% more....2020 pays 10% more...2021 15% more....2022 20% ...he just dug their own grave ?
 

Albern

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I believe they need to remove the CEO, he clearly doesn't get it. What he just did was guarantee Rivian will never be profitable for the next 4 years if he's building these trucks all at a loss. At every shareholder meeting they will report more and more losses even tho they will be selling more and more cars. What he should've done was kept the price for the really first deposits say 2018 keeps their price....2019 pays 5% more....2020 pays 10% more...2021 15% more....2022 20% ...he just dug their own grave ?
Maybe. While RJ doesn't necessarily need to be charismatic as Elon, Rivian has taken so long to get to this stage after over 12-years while being able to copy and learn from Tesla's successes / failures. Also, RJ doesn't seem like the type to be on the ground (e.g. sleeping at the factor) to re-allocate resources and ramp their production; seems to lack the sense of urgency to move.

What further puzzles me is that there's no way this price increase would bow well for anyone and it should have been expected that there was going to be a lot of backlash. Even without hindsight, this should have been obvious.

My only guess so far was that this was shock and awe for attention (which I have trouble believing) or there are recent developments and realizations around the finances. We'll find out next week at earnings.
 

Ogre

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Rivian’s operating expenses are huge. They are roughly 40% of Teslas and they sell roughly 0.1% of the cars.

They are suffering from bloat and need to seriously trim the fat.
 

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I was enjoying the many unique features demoed in this video, at least initially. The rechargable flashlight in the driver's door seemed like a low-cost and functional feature. But as they showed more and more, I got the impression they were suffering from "feature creep" and had just too many "oh-wouldn't-this-be-cool" items that were adding cost and complexity.
 


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I was enjoying the many unique features demoed in this video, at least initially. The rechargable flashlight in the driver's door seemed like a low-cost and functional feature. But as they showed more and more, I got the impression they were suffering from "feature creep" and had just too many "oh-wouldn't-this-be-cool" items that were adding cost and complexity.
Indeed. Very little restraint here from the designers.
 

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The reversal of the increase is interesting, the email was in my inbox when I woke up. It is great for me, I expect to be offered a truck in late 23. With the price increase it is highly probable that I could drive the Rivian for a few years and sell it without much depreciation if I switch to CT in late 2024 (very optimistically) or 2025 when my CT reservation comes up. By then I'll know which truck I want to hold for the long term. My guess is that each truck will have its strengths and the CT will be a much better "electric" truck. If in fact I can buy a dual motor CT for 50K there will be NO way to pass that up.
 

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So Rivian sent out their original price increases at 1 min. after the market closed on 3/1. Yesterday when the market actually did well, the price of Rivian dropped like a stone. Just over 13 % as a matter of fact.
I view today's turn around, as damage control. I also agree that this episode will help Elon convince the bean counters that increasing prices across the board is very tricky.
 

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So all the reservation holders that canceled their orders, I'm guessing Rivian is letting them back in line? That seems like it could be a bit of a logistical nightmare, depending on how the system is setup.
 

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Link to letter from Rivian CEO with announcement:

https://www.rivianforums.com/forum/threads/?-rjs-letter-making-it-right-reversing-the-price-change-for-preorder-holders.3800/

Seems like this needs a separate thread. I think this is very good news for CT pre-orders. It will make it much harder for Tesla to not stand by original pricing. Although, all of the techno additions such as RWS and 4 motors not to mention the BAW will complicate the issue.
Yea I agree completely. If a similar scenario plays out for the CT (and Tesla has to, for example, raise prices on anyone that pre-ordered after pricing was removed), and let's say they offer a quad motor and quad motor plaid (or tri motor and quad motor plaid even though I know Crissa wouldn't agree :p ), and they then don't offer some sort of discounted option for Quad/Plaid/Whatever edition for tri-motor CT reservation holders, then I might have to stick with non-plaid because I'm getting such a good deal. Oh well; first-world country problems.
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