? RJ's Letter -- Making it Right -- REVERSING THE PRICE CHANGE FOR PREORDER HOLDERS

[kurtlikevonnegut]

I'm not sure that this was JUST business. RJ is a human, too. I suspect he cares A LOT about what people think about his company that he has built from the ground up. I doubt the backlash was easy for him from that standpoint.

But you're also right - if there was not a reasonable business reason to reverse this, it wouldn't have been reversed.

Absolutely he's a human and I'm sure that there was an emotional impact to him. My point was that it went both ways, making it null in terms of how people should view RJ. I said 36 hours ago that the decision to pull the trigger may have been the hardest one he's ever had to make, so I'm sure that would have impacted the decision to reverse it but only as a business decision.

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[Christophus]

That means my extra pre-order is worth at least $10k. Anyone looking to save money that put a new order in after the price hike?

Ill take it, if you are seriously selling it?

 

[Mister Person]

Lots of questions still. Can I change my color and keep my original pricing?

 

[Iwantatesla]

A 12% drop in stock price also helps!

I'll say this again. This is not how the equities market works -_-
The only people it screwed were the ones that had knee jerk reactios and sold their shares at a loss.

 

[CabinCrusher]

You owe this to those who cancelled. They are the hero of the story. Rivian would never go back if they could getaway with it. And the company has to be on the watch list on how they plan to make the difference after you purchase your vehicle. Those who do the right thing only after hey are forced to can never be fully trusted.

This! We owe the emotional decision makers a huge debt of gratitude. walking back price increases never would have happened otherwise.

 

[STLBlues76]

Can I just say I told you so.

Props—yes, you did, and yes, you can!

 

[urundai]

I must say I am impressed. It takes courage and commitment to acknowledge and correct a mistake- one that costs the company money. Well done RJ.

 

[COdogman]

I thought they might do something after the backlash, but did not expect this. Good on them for making it right.

 

[kanundrum]

 

[JoshMeekhof]

I'm back in, didn't actually cancel but had 0 intentions of paying the new price. I will say though, they still utterly pissed me off and I'm now hesitant to get excited again. They broke trust with me and it's going to take a while for it to come back to where it was.

This is exactly the sentiment.

 

[McMoo]

I'll say this again. This is not how the equities market works -_-
The only people it screwed were the ones that had knee jerk reactios and sold their shares at a loss.

It’s going to keep dropping. We know they will be bleeding cash at these prices. They needed that extra revenue for their goals.

That being said, I’m now basically forced to buy the Rivian. My wife is now on board too, which she never was before! We’ll try it out for a while and if we don’t like it will just sell it for a profit.

 

[Jsidell]

Is it too early to switch our signatures back to your Tuesday suggestion ?

 

[Guy]

I'll say this again. This is not how the equities market works -_-
The only people it screwed were the ones that had knee jerk reactios and sold their shares at a loss.

The drop indicated that the market thought this was a bad decision (Lucid and Tesla didn’t drop like this so it was company specific).

 

[kanundrum]

Is it too early to switch our signatures back to your Tuesday suggestion ?

OH boy lol

 

[Tschu12]

Dear Rivian,

It takes a lot to correct a mistake like the one we all experienced yesterday. We understand your logic and appreciate you seeing the issue from the customer's perspective. We understand that keeping prices down while working in the current economic landscape is a huge burden. We also appreciate the acknowledgement of the need for better communication in the future.

When I worked in sales my boss used to say the most important thing for me as a new business person was to create an army of people who love you. Consider us enlisted, you guys clearly care and want what's best for us all!

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