Prices have been increased, options added

Discussion in 'R1T' started by RLXXI, Mar 1, 2022.

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  1. RLXXI

    RLXXI Active Member

    Anyone else get this email?
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    As our production continues to ramp up, we want to share new information that affects your Rivian preorder. 

    Vehicle base pricing and the cost of certain options, upgrades and accessories have increased. On R1T Adventure and Explore packages, the tonneau cover is now a selectable upgrade.

    We’re in the process of updating your Rivian Account page to reflect these adjustments and we will send you an email notification when the update is complete. Until then, all product and pricing updates can be viewed in our configurator.

    These price increases — the result of inflationary pressure on the cost of supplier components and raw materials across the world — will allow us to maintain product excellence as we continue investing in electrification for our shared future. We remain committed to offering compelling products and helping drive competition, inspiring as many drivers as possible to switch to electric vehicles.

    To that end, today we’re also announcing the introduction of Rivian Dual-Motor AWD for both R1T and R1S. Dual-Motor AWD features one motor for each axle for exceptional power and control. The system is designed to excel both off-road and on-road, going from 0-60 mph in as few as 4.0 seconds while still delivering all-wheel traction. Deliveries are planned to begin in 2024. We are also introducing our 260+ mile range Standard battery pack, with deliveries planned to begin in 2024.* Dual-Motor AWD and Standard battery pack are available now in our configurator, where you can find more information on each.

    We’re grateful to you for being an early supporter of Rivian and helping drive the EV movement towards an enduring and livable world. If you have any questions about your preorder, we’re here to answer them.  

    Thank you again for being on this journey with us.

    — Team Rivian
     
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  3. Bogeyman

    Bogeyman New Member

    Indeed I did. They have increased the price of the R1S I configured by $6,000 for the quad drive motors (even though it's the only option available) and 300mi battery pack (ditto on the only option available). The only interior offering with no additional cost is black. Ocean Coast interior is now a $2,000 adder. This is over 18% increase from my initial configuration. Does it make any sense to hold an order for a vehicle that one has yet to see, let alone drive? Are they trying to recover the loss in stock equity by sticking it to the preorder holders? Wonder if Amazon got the same price adjustment?
     
  4. RLXXI

    RLXXI Active Member

    After much thought I've cancelled my preorder, they added $13,000 to the cost of the same truck I selected. Bait and switch BS. Guess I'll be waiting on the Ford Lightning after all.

    Rivian shot themselves in the foot with that stupidity, I see their stock is in the toilet.
     
  5. RLXXI

    RLXXI Active Member

    Update: Got this email today from Rivian. Nice backtrack NOT! Damage is done, I mean how can I trust them to not pull some crap like that again? My mom use to say "Get me once, shame on you, get me twice, shame on me"
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    Hello Everyone,

    Earlier this week, we announced pricing increases that broke the trust we have worked to build with you. Since originally setting our pricing structure, and most especially in recent months, a lot has changed. The costs of the components and materials that go into building our vehicles have risen considerably. Everything from semiconductors to sheet metal to seats has become more expensive and with this we have seen average new vehicle pricing across the U.S. rise more than 30% since 2018. Given our build lead up times, we need to plan production costs not only for today, but also for the future.

    As we worked to update pricing to reflect these cost increases, we wrongly decided to make these changes apply to all future deliveries, including pre-existing configured preorders. We failed to appreciate how you viewed your configuration as price locked, and we wrongly assumed the announced Dual-Motor and Standard battery pack would provide configurations that would deliver price points similar to your original configuration. While this was the logic, it was wrong and we broke your trust in Rivian.

    We also didn’t manage communications well. We didn’t give you enough insight into what was driving these decisions. The most important aspect of what we are building is our relationship with all of you. As we demonstrated earlier this week, trust is hard to build and easy to break. In speaking with many of you over the last two days, I fully realize and acknowledge how upset many of you felt. I have made a lot of mistakes since starting Rivian more than 12 years ago, but this one has been the most painful. I am truly sorry and committed to rebuilding your trust.

    One of the things we talk about a lot internally is that we will make mistakes – it’s part of building something complex. The key is to learn from them and address them when they are made. It is how we grow. We made a mistake in how we approached our pricing changes, and what is important now is that we fix it.

    For anyone with a Rivian preorder as of the March 1 pricing announcement, your original configured price will be honored. If you canceled your preorder on or after March 1 and would like to reinstate it, we will restore your original configuration, pricing and delivery timing. Our team will be sending an email in the next few days with more details.

    Regarding our updated pricing for future preorders, the introduction of our Dual-Motor configuration and Standard battery pack has been designed to enable us to maintain lower starting prices while adjusting the pricing of the Quad-Motor and larger battery packs to reflect rising costs. Building a durable business is core to the continued impact we can deliver as a company. We are focused on building a brand and products that will continue to scale to different vehicle sizes, use cases, price points and markets – this growth will only be possible with your support and continued feedback.

    Thank you for the personal notes and discussions I had with so many of you. Your feedback makes us better.

    RJ
     
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