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

[TDWRT1]

Rivian and RJ got our message

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[ads75]

Was this just a ploy to make sure we followed through with our preorders? It worked.

 

[CommodoreAmiga]

I'm shocked. I didn't think they'd make a complete reversal, like that. I mean, I didn't agree with the way they did the pricing increase, but I assumed they had thought it through and the reaction seemed obvious, to me, so they must have known it was coming, right? Did they think the reaction would have been different? It's concerning if they didn't think people were going to be upset.

Well, I'm glad they reversed the decision. I applaud them for being able to publicly admit it was a mistake and make it right.

I wonder if the original pricing will only be honored for the as-previously-configured reservation? Or will I still be able to choose different wheels/accessories when my build time actually arrives, while getting the original pricing? Or do the changes incur the then-current pricing? Or does any change reset the whole build to then-current pricing?

These questions will need to be answered, eventually... But for now, I will say "kudos" to RJ and Rivian. What they did, Monday was bad. We should not give them a pass on that. But they did the right thing, in the end, and for that they deserve recognition and respect. Thank you.

 

[kanundrum]

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

Done

 

[evergreenmachine]

My response, I'm gooing to add more options to my LE R1T, buy gear from the store....a response like this needs our support as it is a major mea culpa, and the damn right thing to do!

Do the right thing, own the mistake, find a solution....that should get some recognition in my book!!!

 

[Blackhatch]

I like the ownership of this as well.

Am I wrong...didn't the Adventure package previously include the electric tonneau cover?

 

[JeremyMKE]

I was probably not going to buy at that price, it was just too high but I didn’t cancel in case this happened. I was even trying to do the math on what options I would have dropped to reduce the price.

As I thought about it, I get why they wanted or needed to do it. The way they handled it though made me lose all faith that Rivian is different. That has been slowly eroding due to their poor comms but this was a truly epic fail.

This is the easy stuff people. I am seriously questioning their longevity now. If Rivian does go under and I have my R1T its a little embarrassing as anyone who knows could have pointed to this mistake as the turning point.

 

[HackyMoto]

Well that blows! I was hoping that all you deserting rats would mean that my 2024 order would come into 2022...now I'm at the back of the line again. Us loyal folks should be served first....

We need another poll...

 

[rivianado]

This is a good move by Rivian to reinstate the trust among their loyal customers. Hope they don't compromise on the quality of the vehicles due to fiasco.

 

[kanundrum]

 

[rraj2k81]

I'm shocked. I didn't think they'd make a complete reversal, like that. I mean, I didn't agree with the way they did the pricing increase, but I assumed they had thought it through and the reaction seemed obvious, to me, so they must have known it was coming, right? Did they think the reaction would have been different? It's concerning if they didn't think people were going to be upset.

Well, I'm glad they reversed the decision. I applaud them for being able to publicly admit it was a mistake and make it right.

I wonder if the original pricing will only be honored for the as-previously-configured reservation? Or will I still be able to choose different wheels/accessories when my build time actually arrives, while getting the original pricing? Or do the changes incur the then-current pricing? Or does any change reset the whole build to then-current pricing?

These questions will need to be answered, eventually... But for now, I will say "kudos" to RJ and Rivian. What they did, Monday was bad. We should not give them a pass on that. But they did the right thing, in the end, and for that they deserve recognition and respect. Thank you.

Yeah, good question. When they announced the price increase, I updated my configuration to remove all the adventure gear before cancelling.
I would add it back if they honored the original price. From a color and wheel perspective I am set on what I had, but I liked the pricing of the optional accessories.

The Rivian charger alone went from 600 to 1000 CAD.

 

[kanundrum]

 

[AdamsFan1983]

I agree that the ability to reverse makes the initial decision questionable. But, I don't think sales at the reservation prices will still earn the expected revenue. I think they made the choice to take a financial hit (or at least accept much smaller profit margins) on the existing reservations to save face and maintain the brand loyalty.

Question though: If your reservation was restored to the original price and you ended up paying the amount you had planned to pay, in what way would you not be financially whole? Or are you referring to other non-financial aspects?

I didn’t say financially whole. There is an emotional cost to all this that is very real. It’s fucking exhausting.

Secondly, as I’ve said, I immediately changed my plans. Partly because they idea of them changing course after such a move seemed so unrealistic, partly because the brake line on my 2004 f-150 sprung a big leak yesterday and I almost completely lost brakes while driving; I immediately went to my loca Ford dealer and put a deposit on a very low mileage 22 F-150.

I readily admit that was my choice, but I now have to chose to eat that deposit or try to resell that vehicle if and when Rivian delivers.

Lastly to specifically answer your question, a great many Rivian pre-order holders are also stock holders.

This whole debacle wiped ~15% of our investments out; so no, we are not financially whole.

 

[crashmtb]

WOOOW!!!!!!!

Oh to be a fly on the wall of whatever conference call came before this email.


Did they elect to gamble, and end up losing real hard...

Or did they actually really have a group consensus that their initial strategy was a sensible business decision that customers would be fine with?

The latter is unfathomable, but simultaneously unsurprising. Have worked with too many accountants who are in decision making roles that actually require more thought than looking at the balance sheet...

 

[Puttyandnapalm]

Now let’s demand CarPlay and Sirius

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