T+24 hours - clear head - I’m staying

[COdogman]

I support everyone’s decision to do what’s best for themselves on this. I will downgrade my order to get it as close as I can to my original price and wait till I’m forced to commit to make a final decision.

I think the bigger concern for me is the lack of trust I would have for Rivian going forward. It’s not like they are offering to lock anyone in at the new pricing either. Nor can they be trusted on their stated delivery dates. And if they are this ruthless with a price increase for their most faithful fans, what is in store for the subscription services they promised in the IPO would be a major revenue generator? And what about warranty claims or recalls? If they would do this to protect their bottom line what would they do to avoid an expensive recall or a widespread warranty issue?

Most large companies struggle with these issues but Rivian seems to be especially bad at it.

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[EVTrucking]

I kept my pre order but changed to the dual motor. I am priced out with the 20% increase to the quad.

The new prices are now more realistic but I cannot justify $87-100k for any vehicle.

 

[Outdoorsyish]

I currently have 3 reservations. That certainly isn’t happening…

One LE R1T, one mid-21 R1S reservation, and one late-21 R1T max reservation.

Originally I planned to keep the R1T and consider replacing it with the max when it was available, particularly if the added range was going to be useful (I was also hopeful that I’d be able to avoid selling it at a loss given inflation, the current used car market, and the original exceptional value). The R1S was going to replace another 3 row SUV if I could talk my family into going all-in on Rivian vehicles.

I certainly don’t see myself purchasing 3 vehicles now, let alone 2, and going all-in on Rivian leaves me with a bad taste in my mouth. I don’t think I can drop the LE R1T, although out of principle I’d like to.

I’m not ready to burn all my Rivian swag in an effigy of RJ just yet, even if I don’t find myself wearing it anymore. I’ve been waiting and saving for a new car for quite some time, and having a vehicle that can do everything the Rivian can do is something I’m not willing to get up, even if my loan payments rise a bit more than I’d like. They’ve ruined a lot of goodwill. I’m done venting.

I plan to keep the first truck, but expect them to still see 2 cancellations from me. I don’t want to give up the camp kitchen, too, but honestly the price is getting ridiculous (for 5k it already was, but I still got swept up in everything), yesterday’s email brought me back to reality.

To put a positive spin on things, now I get to daydream about what things I currently own will fit in the gear tunnel, since the kitchen is no more.

 

[kurtlikevonnegut]

i'm staying as well. i had to adjust some options. dual motor vs quad motor ? ok. range hit was more difficult but hoping they will announce better range by the time its my turn (oct 2021 preoder)

I expect by 2024 the 800v architecture will be online. With 260 miles of range and 800v, you may actually be neutral in terms of charge time on a road trip vs the large pack. Maybe even slightly better off. The only real issue would be if you have a trip that is 250-300 miles where you now have to stop and charge where you wouldn't have before.

 

[bac4uw]

I have a June/July R1S LE preorder…in the same bucket as everyone else as it relates to pricing and disappointment. After allowing this to marinate, I reached a conclusion: I’m sticking with it and super excited to take delivery.

by no means am I pleased that I need to strike a bigger check, but, sitting in car line picking my kid up today it seems virtually all nice SUV’s are $90+ these days. My wife’s X5 45e was $92, my Cayenne was $105, and replacing them with any similar caliber vehicle today would be the same or more. I had lulled myself into a false sense of security concerning the superlow price / tremendous value the old price offered. We have all seen chip shortages, supply chain issues and interest rate fears drive inflation so an adjustment was completely reasonable ( in my books). I still can’t wrap my mind around the “bull in a China shop” approach to PR / customer service they have but will roll the dice that they learn.

the R1S is still cheaper than the model X, cheaper than a new Range Rover hybrid, cheaper than a cayenne hybrid and cheaper than a hummer - it’s a good looking rig that offers everything my family wants ( albeit for more $ than expected ).

im with everyone else in thinking this was a total screw up, but I can’t wait to take delivery. Anyone else share a similar outlook or am I all alone?

I'm with you buddy -- if I didn't have all of the back story / narrative leading up to now, looking at the automotive landscape the R1T and R1S are bad-ass vehicles. I'm an R1T pre-order, and for me it is four vehicles in one: truck, EV, off-roader, sports car. Can't think of m/any others that hold a candle to it.

 

[7cupholders]

I totally agree with your assessment of the product. I am out however, I lost all faith in the company. While me knee jerk is wanting to see the company crumble, I think it’ll make it. I however will not be participating until the Rivian the c-suite can turn itself into at least a functioning body. I feel like all they can do is raise money. I want the support of a even moderately okay organization behind a 100k purchase. I wouldn’t buy a 2 dollar box of thin mints if the girl scouts were this crass with their sales. Rivian gets another chance but in a decade. Hopefully they can develop a good track record, and don’t treat their engineers like their customers so they still will have a good product.

 

[gombater]

I think this whole experience shows that just maybe the 'legacy' manufacturers might have some experience that a new start up doesn't. I don't plan on cancelling quite yet - waiting for more dust to settle, but it does confirm to me that, like all publicly traded companies, stock performance is the highest priority. Seems like they decided to have 20k better profit sales than 20k low margin sales and 60k orders they couldn't fill before their vehicles are truly obsolete. I truly believe if your in the market for an EV truck you need to hedge your bets. I have a Lightning ER Lariat on order and expect Ford to meet it's mid year build dates. I may take delivery then wait for my EValanche reservation to upgrade in early 2024, or by then have a reservation in for a 2nd gen lightning.

That all being said, I like the R1T, especially after my first mile test drive. I live close to the factory, and now see R1T's [5 separate colors so far] daily on my short commute to drop off/pick up my son from school. It looks very nice especially at night. Unfortunately, the math has changed though including doubt about future actions by Rivian.

In the end, it's only a truck.

 

[Davethadog]

My biggest concern is what other surprises lay ahead. How many features of the truck will eventually require a subscription? How often will those prices change without warning? How long will they continue to support the truck and features or will they one day disappear from the UI? How much is it going to cost me to tank turn when/if that feature ever becomes available?

I still want the truck but I have a harder time believing that the company is really going to deliver an awesome experience without constantly trying to extract revenue.

No one wants to pay $70 for a AAA game with micro transactions and no one wants to buy a 6 figure truck and not know what it'll really cost.

 

[Blueassassin]

I look at it this way they cant even show us one of the colors still haven't given us any reason as to why yet tried to photoshop a picture of it that didn't even look close to what they had been showing us. The lies and problems are all coming out yet I still don't have an actual delivery date for a truck i ordered in 2018. At this point maybe they moved in too many people from Tesla and took on the same issues and more.

 

[moosehead]

All those that overtly stated their willingness to pay +20% within 24 hours after the price increase are hereby invited to play poker at my place. Anytime. Open door.

 

[SANZC02]

All those that overtly stated their willingness to pay +20% within 24 hours after the price increase are hereby invited to play poker at my place. Anytime. Open door.

I stand behind what I said. Last summer on a poll about price increases would you stay, I said yes, looking around what was available at what price I thought then that a 10-15% increase would still be a good value. Before the rollback mine went up 16%, I was staying.

Don’t get me wrong, I’m happy to pay the rolled back price and put that money towards the batteries I’m adding to my solar system. Looks like I even have an additional 2500 as I’m not adding back the enforced shield and wall charger.

Now that everyone can relax with the rolled back prices look at the numbers. Even at the 20% hike it is a decent value….

 

[0=====0]

All those that overtly stated their willingness to pay +20% within 24 hours after the price increase are hereby invited to play poker at my place. Anytime. Open door.

LOL! Are you sure about that?
Everyone cancelling felt disrespected and betrayed and were making an emotional decision.
some of us were still trying to evaluate our options and see if it is still a good value. Basically not get carried away in emotion and Try to look at it logically!

Who do you think would come out in front after a night of poker?

 

[moosehead]

I'd happily lose money to you guys, for the first say 2 hours.

I kid, I kid, it's all good today. We can go back to sweating it out on the earnings call next week.

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