Rivian’s R1T Same Day Sales Event

[milliemc]

Have an R1T reservation, did not receive, do not live in the Midwest.

Same here---in NM--the vast wasteland as they will not /can't deliver cars here?

Sponsored

 

[gvtucker]

Apparently, about half the people who visited the event bought an available R1T. So, I’d say that it was pretty successful

That would be **great** news if true. Is there anything more firm than anecdotal evidence to verify that?

 

[Stickboy46]

Rivian has started to sell its vehicles from a lot in front of its Normal, IL factory. Normal is in the middle of nowhere–southeast of Peoria and northwest of Champaign. Is there a worse place to have a “dealership?”

The Journal drives the problem home in another comment: “At the same time, monthly vehicle registrations for the R1T truck, a proxy for sales, have fallen from a peak of 1,829 in September to 950 in April of this year, according to data from S&P Global Mobility.”

Rivian might as well give up. (These are the 13 biggest electric vehicle business failures in American history.)

Rivian’s stock has taken a horrible beating. It is down by 44% in the last year. The overall market is up 20% for the same period. In the most recently reported quarter, Rivian had revenue of $661 million, on which it lost $1.3 billion. In the period a year ago, it lost $1.6 billion. That is barely progress.


Get Our

Interesting that he is only looking at 1 of 2 models that a Company makes for registrations and declaring the entire company a failure. The reason that R1T registrations went down is because they have been building more R1S .

Obviously a short seller

 

[PappaBolt]

Rivian is one of the handful of U.S. companies that tried to enter the EV market but failed.

Rivian’s run was over before it began

These two statements show the entire article is a fraud (fake news). Rivian is still operating and hasn’t failed.

 

[Scrambler]

From Wall Street Journal

This is not from the Wall Street Journal. It includes a couple of quotes lifted from a WSJ article, but 24/7 Wall St ≠ WSJ.

 

[MIG]

Rivian has made one other error. It has priced its vehicles out of the market. Its base model R1T has a starting price of $73,000. That is too expensive in a world where Ford has a lower base price for its F-150 Lightning. The prices of the Rivian model move above $90,000 quickly when people add additional features.


Rivian’s run was over before it began

Yeah, the $39,000 Cybertruck is the one to beat. Oh, wait....

 

[HighVoltOverland]

The low priced Lightning is a marketing gimmick. Very few consumers have the base model. A. Ford didn’t make many, B. It was only for commercial use, C. The few who got them were Fri commercial orders that fell through or a few that Ford allowed in order to keep up the illusion they are selling trucks at that price. At Rivian’s price point you get a better vehicle than a Lightning at the same price.

With how disingenuous and transparent the author is I'm surprised they didn't state how Rivian is a bad purchase because the cyber truck is only 39k and has 500 miles of range.

 

[kylealden]

From Wall Street Journal
Rivian is one of the handful of U.S. companies that tried to enter the EV market but failed. The electric truck company bragged it has a backlog of 100,000. However, the people who made the orders had no obligation to buy them, so the figure was misleading. Recent information shows that the backlog may not be huge. According to The Wall Street Journal, “For instance, buyers who once had to wait a year or more for the R1T truck have more recently been able to get one in as little as two weeks, the company has said.”

No, this is from "24/7 Wall Street", an opinion content farm with a pretty clear activist agenda. Very much not the Wall Street Journal.

Sponsored