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Rivian sudden huge price increase: another rip-off…

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As we all know, it is truly the worst time to purchase a car.
This is mostly due to dealers’ huge markups and crazy lease prices.
A few months ago, I was complaining about huge price increases from Testa. Which were about $10 000 in one year for the Model 3 and Model Y.
But wait, there’s worse! Rivian just announced crazy new pricing on the R1T Pick-up and R1S SUV.
As you can see from the picture on top (from Rivian’s site). The Quad-Motor and large battery packs are now options. For a total of $12 000. These were standard just a couple of days ago.
Sure, you can still order a $72 000 Rivian. But it now comes with a smaller battery and 2 motors instead of 4. On top of that, you’ll now have to wait until 2024 !
And, the $72 500 base price is  $2500 higher, to begin with.
The worst part is that it also affects most pre-orders. Not just new ones.
If you’ve been waiting for your Rivian to finally be built and delivered, you’ll have to pay much more than what you thought when you ordered it. (I think the paint options are also more expensive now. Ranging from $1750 to $2500)
Raising prices by huge amounts is bad enough.
But including pre-orders is borderline illegal. Or it should be.
At least Tesla’s crazy price increases didn’t affect pre-orders. 
The new standard battery pack has a range of 260 miles. Which is really not great for a truck starting at $72 000. Especially when the new Silverado EV comes standard with a 400 miles range. At almost half the price.
This is pretty bad news for a brand new company. Basically the opposite of establishing any kind of trust. I think Rivian will find the upcoming competition very hard to deal with.
I wonder how many of these pre-orders will be canceled.
I mean, by 2024 these prices could be increased another $15 000 or more…

 

Conversation 10 comments

  1. That is unfortunate for Rivian buyers. Though it seems like most electric car buyers don't consider money an issue and buy it for whatever price it is. Wish I had that economic freedom.

  2. Bummer. I was considering a R1S but never mind. Yeah that’s def not something that’s gonna help establish a customer base.

  3. Looks like Ford made the right decision to part ways and go about the Lincoln EV SUVs on their own. I never would have guessed and thought the idea of the split was tragic back then.

  4. I guess you haven't heard that the inflation rate is the worst in 40 years. Wasn't like that 13 months ago.

  5. I’m sure is this some fine-print language when you place a deposit that protects Rivian from legal action if they change the price while holding your deposit.
    Not to defend Rivian, but being a relatively small start-up likely makes it difficult for them to eat the increased costs from their various suppliers for vehicles earmarked for people holding reservations. Though, with all the backlash this will likely receive, they may have to if they don’t want to lose customers.

  6. Not to defend Rivian, but being a relatively small start-up likely makes it difficult for them to eat the increased costs from their various suppliers for vehicles earmarked for people holding reservations. Though, with all the backlash this will likely receive, they may have to if they don’t want to lose customers.

  7. The inflation rate in the US is 7.5 %. NOT 20% like the Rivian price increase.
    No other manufacturers have increased MSRP nearly that high. Most car models are just a few hundred dollars more this year. Again, NOT 20%.

    Higher inflation is also a worldwide problem. Not just the US. (It's already 5.5% in England)
    The current high inflation has many causes.
    Most of them can be traced to more than "13 months ago". ( a non so subtle way to be political and blame this on a current administration)

  8. Besides supply chain problems, the cost of moving goods around is through the roof and the f%^king trucker convoy's blocking trade bridges has just made that worse. As an example, where a commercial truck used to charge $800-1200CAN per load from Michigan to Toronto it now costs over $5000.

    Once again, thanks to the dumbass trucker convoys and delay risks at the border in addition to the huge increase in fuel prices.

    So I don't blame Rivian fully for this

  9. There's an update to this story, in a press release Rivian says they will honor the original price to people who pre-ordered prior to their price increase

  10. Rivian backtracked, which was a good decision. They are even honoring the original prices for those that had preorders that cancelled.

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