Nervous about Rivian purchase as date draws nearer

[QGessner]

First off, I have had my order in for an R1T since February 2022, so under the old pricing. I also have an order in for the Cybertruck @ ~ 600K in line. I LOVE the looks and performance of the R1T and the Cybertruck looks I like, but not as well. I have been looking forward to my "April-May 2023" delivery window - but... As time draws nearer to the actual purchase, I continue to read about what Rivian has/is taking away - reasons I wanted it to begin with. The Camp Kitchen is still nowhere to be found, the automatic Tonneau cover is gone, as well as the Fronk 12v charger, now the 12v charger under the center dash and the elimination of the Meridian sound system (with an in-house replacement). Then we see the financial numbers like in this article: https://apple.news/AJYQyrW7PQxaac3mOMmpL9A

All of this really concerns me, even though I REALLY want an R1T, if the company is going to survive once Tesla, who has a proven track record of not only mass producing vehicles, but being profitable - comes out with the Cybertruck. I am concerned I am going to have an R1T that is ~2 years old, the company does under and no one is updating the software, and because of this, I would not be able to sell it if I wanted to. Is it just me? Any help here? How in the world is Rivian going to hang on long enough, and get enough mass production to become profitable, especially once the Cybertruck comes out - with all of its features?

UPDATE: It must be karma - just moments ago, I heard back from my Rivian Guide that they have a VIN number for me! Literally - just hours after my original post. Thanks for all of your comments and feedback. - I am going to take delivery.

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[911.1 Guy]

It is a valid concern. My hope would be that someone would purchase the company and continue to provide some level of support although it might not be no cost warranty repair.

 

[shift4]

I share your anxiety about Rivian's future and whether the company can survive long-term. However, their growing pains are more the result of the timing in the economic cycle they were able to launch the R1 series, not because of the lack of a good, quality product that consumers want. If they had the benefit of launching at the start of a new expansion phase in our economy like Tesla did (2010 right after the GFC), I don't think any of the profitability concerns would be as much of an issue as they are now.

I also don't see the Cybertruck as necessarily a direct competitor to the R1T. The Cybertuck is a pretty polarizing vehicle and I don't know if there is a lot of overlap in consumers who would consider both. Many members here are vocal about how put off they are by it. Rivian has more competition from legacy auto makers tying to enter the EV truck market like Ford, GM, and Dodge.

 

[SilverII]

Buy now, and if cybertruck ever shows up and you like it, trade in for the CT. I doubt you will lose any money since you are pre-march increase

 

[COdogman]

Tesla also has a track record of removing and taking things away, including usb outlets. They also asked people to pay $10k-$15k years ago for ”full self driving” that has never and probably will never materialize.

And no one yet knows what they ACTUALLY will include in a cybertruck. Literally everything about it other than it’s exterior is speculation. Tesla also has unbranded stereo systems in all their vehicles.

Get whichever will serve your purposes the best.

 

[QGessner]

Tesla also has a track record of removing and taking things away, including usb outlets. They also asked people to pay $10k-$15k years ago for ”full self driving” that has never and probably will never materialize.

And no one yet knows what they ACTUALLY will include in a cybertruck. Literally everything about it other than it’s exterior is speculation. Tesla also has unbranded stereo systems in all their vehicles.

Get whichever will serve your purposes the best.

Great points - thank you

 

[QGessner]

Tesla also has a track record of removing and taking things away, including usb outlets. They also asked people to pay $10k-$15k years ago for ”full self driving” that has never and probably will never materialize.

And no one yet knows what they ACTUALLY will include in a cybertruck. Literally everything about it other than it’s exterior is speculation. Tesla also has unbranded stereo systems in all their vehicles.

Get whichever will serve your purposes the best.

Totally agree with your point about self-drive. I rented a Model Y for a 3,600 cross country trip (to ensure I knew what I was in for - regarding EV ownership) and the self-drive scared the crap out of me with the phantom breaking - very dangerous! That and I hate that it has no screen directly in front of the driver (like the Rivian) and I think the large windshield wiper looks ridiculous...

 

[mmiles2012]

For what it’s worth, no one in the industry expects Rivian to fold (Now, I don’t think anyone I knew expected Argo AI to fold either, but…).

They’re in trouble now but have cash and liquidity to get through 2025 at a minimum. And that’s presuming they continue losing money at the rate they are, which no one expects given ramp-up and the unit economics that come with that.

 

[TXR1S]

I feel like if Rivian went under, the value of vehicles might actually go up. They’re that good. IMHO.

 

[HeyEllwood]

Tesla is the King of taking things away. My car used to be able to change lanes and park by itself. They took both of those features away and have put it behind a few thousand dollar purchase that I will never purchase. I'm sure there are other features that I no longer have that I just haven't really noticed.

Also, Rivian is too large that it will not go under, someone will step in and buy it. Also, it took Tesla how long before they were mass producing? They only made what 1,200 or so Roadsters which were so outrageously priced, it's silly looking back.

It also took Tesla A LONG time to actually mass produce the 3 & Y (successfully) without horrible alignment issues along with other issues, even to this date they are still made like a Hot Wheel car.

I have faith in Rivian to get over this hurdle and see the light that they're almost to. It's always scary to be an early adopter on such a huge piece of technology and it being your actual vehicle that you get in and drive.

I'm sure you're going to absolutely love your R1T and will be so happy to have kept your reservation and to own one.

 

[DuoRivians]

Rivian will be around and do well. I firmly believe it’ll be a top 8 car brand in the US by 2030.

I think a lot of Japanese brands will fall aside, as they’re very late in the EV space, along with a few other legacy oems. Primary STLA (except for their RAM trucks)

 

[Insight75]

The Cybertruck specs will change a lot once it comes out and the price will be much higher. I'm in on one as well and the look is so unconventional. I just don't know how this is going to go. Everyone put only a 100 down on it.....how many will actually go through with the purchase? We'll find out....but not anytime soon as they are still far off. I had the same concerns though...and I paid full price for my R1T. If you are paying the pre price hike pricing I would really really not worry. And by the way....if want a luxury truck....you aren't looking at a Ford, Dodge, or Chrysler. Not in the same category.

 

[QGessner]

I feel like if Rivian went under, the value of vehicles might actually go up. They’re that good. IMHO.

I get that. I have watched about every R1T review on YouTube and also completed my first mile drive - and the performance and quality are amazing. My concern is that IF the company goes under, order drop due the Cybertruck popularity (perhaps accelerating the collapse of Rivian), if getting replacement parts for the Rivian becomes an issue, in addition to no more software updates, it may be hard to unload the vehicle if I wanted to. That said, I know the $100 reservations for the Cybertruck (2 million) may be drastically reduced in terms of actual orders, once the new pricing comes out and people have to actually commit to purchasing one...

 

[evguy]

Rivian's long term success isn't guaranteed, but I honestly think the reports of their imminent demise are way overblown. When you place everything in context (launching production and sales during a global pandemic, supply chain madness, and very difficult macro conditions), I think they're doing quite well. Yes, there have been missteps in strategy and comms, but that's to be expected for a startup under lots of scrutiny. The quality issues, recalls and feature changes are nothing out of the ordinary when compared to Tesla, or even legacy automakers. The product is excellent, the brand well-positioned, and they still have an enormous pile of cash to weather the inevitable short-term growing pains. The future is bright as long as they continue to ramp production and bend the cost curve down (I think Barron's even acknowledges as much despite the click-bait headline). (Full disclosure: I'm long on RIVN stock but try my best to be objective about this stuff.)

Agree with other comments on the Cybertruck. Too polarizing and impractical to seriously threaten R1T (IMHO).

 

[popoga]

Not much to add but I share a number of your concerns, took delivery anyway, and am super glad I did. Love my truck.

You can't predict the future, so I figure just do what you want now and hope it works out/trust your future self to be capable of handling it.

Good luck with the choices, either way.

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