Back in March, Rivian announced large price increases for its popular R1T and R1S electric truck and SUV, affecting all orders. However, it quickly rolled back that decision after backlash and honored the original pre-order price for early buyers. And while that still stands, upcoming orders will lose the price guarantee.
Rivian released its Q1 2022 earnings report this week, confirming the company has shipped roughly 2,148 vehicles in 2022 and 1,227 in the last three months.
Unfortunately, in that same announcement Rivian detailed a new order process that won’t protect new reservations or pre-orders from potential price increases in the future. Essentially, it looks like the company will separate R1T truck orders from the configuration and fulfillment process.
While we don’t have too many details on the new process yet, it looks like potential buyers can reserve a vehicle and choose a trim level, but that’s all. Then, once Rivian eventually gets around to manufacturing the EV and the customer is next in line, they’ll be able to configure and pay for the truck or SUV.
Rivian explains this will allow customers to select “from the latest features, packages, and pricing.” That sounds great at first glance, letting customers add new features or upgrades to the vehicle they originally ordered several months ago, but it also means they’ll be subject to price increases. Ouch.
Rivian isn’t the only one increasing prices. Tesla has added $2,000 or so to each vehicle every few months, and its most affordable Model 3 is no longer anywhere close to its original suggested retail price. Supply shortages, material pricing, and overall demand is hitting everyone, not just Rivian.
According to Rivian, this new order process will go live soon and let the company “better navigate managing a large demand backlog with inflation uncertainties, planned content changes, and enhancements to ensure customers are offered the latest product offerings.”
Basically, if you order a fancy Rivian R1T electric truck soon, you won’t pay the $73,000 it costs. Instead, you’ll reserve a spot in line. Once the company gets through its massive 90,000 pre-order backlogs and is ready to build your truck sometime in late 2023, the price could be different if the situation and market have changed.
If you haven’t ordered one yet, you better hurry and get started from the link below.