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Thread: Blowback - Rivian CEO reverses decision to increase prices $12,000 for those holding reservations
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03-03-2022, 05:09 PM #1
Blowback - Rivian CEO reverses decision to increase prices $12,000 for those holding reservations
The Rivian R1T is a very hot truck right now and very hard to get. It is not hard to see why demand is so high when the Rivian R1T performs so well and is being lauded by testers. In the current automotive climate, prices are rising across the board.
Rivian announced a couple days ago prices would go up $12,000 and those holding reservations from as far back as 2018 were pissed off and rightfully so.
The CEO almost immediately reversed course:
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03-04-2022, 12:43 AM #2
I was not happy when my R1S pricing went from $81.5K to $97K. But honestly, still not that crazy for a higher-end truck/SUV.
But super pleased that RJ reversed course and now it’s a no-brainer to get one since any units sold after the fact will be 20% higher.
-Rich
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03-04-2022, 01:14 AM #3
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03-04-2022, 10:18 AM #4
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03-07-2022, 04:17 PM #5Timeout
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yeah my friend has a reservation for a pretty maxed out R1T and was about to cancel with the price increase but good on them for walking that back lol.
Although it wasn't out of the goodness of their hearts, I read they saw as much as 60% cancellation rate with the price increase.
They got greedy and their executives need to take an MBA pricing class to figure out how to set a price increase that people would be able to stomach.
I bet if they raised it 7-10% because of inflation and component shortage etc they could have gotten away with it but they got greedy with the 20-25% increase and it blew up.
Personally at $100k I would rather get the EV hummer
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03-07-2022, 04:26 PM #6
I know the cost of lithium batteries for energy storage has increased 20%. So it makes sense.
Not to mention inflation. 2018 to 2023 is a long time(5 years) to hold a price steady.
But I agree for 100k get the ev hummer.
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