Rivian incurred the ire of numerous customers with its price hikes in March 2022. In response to the backlash, the EV startup initially offered price protection to customers who placed orders before March 1, 2022. However, subsequent actions by Rivian have left many feeling sidelined, culminating in an announcement of an expiration date for special pre-order pricing.
Rivian captured widespread acclaim upon launching the R1T in September 2021. The electric pickup truck represented a pioneering entry into the US market, boasting exceptional build quality and features. Positioned as a potential rival to Tesla, Rivian appeared poised for success. However, hurdles along the path to mass production forced the company to make difficult decisions.
Among the most contentious was a price increase of up to $20,000 implemented on March 1, 2022. Faced with rampant inflation and supply chain constraints, Rivian, like many automotive manufacturers, revisited its pricing strategy. Despite the resulting dissatisfaction among customers, the decision was deemed necessary given the prevailing market conditions.
In a bid to assuage affected customers, Rivian announced price protection for orders placed before March 1, 2022. While initially received positively, subsequent actions by Rivian eroded customer confidence. As production accelerated, Rivian prioritized delivering vehicles ordered after the price hike, relegating pre-hike orders to the back of the queue.
Throughout 2023, as delivery rates surged and inventory levels rose, customers with grandfathered pricing found themselves unable to benefit. Changes in available configurations rendered their reserved models obsolete, effectively nullifying their price protection. With the clock
ticking, Rivian has now notified these customers that their price protection will expire on September 30, 2024, irrespective of whether they place an order. To incentivize prompt action, Rivian extended price protection to the newly announced R1T Dual Motor with the Standard Pack battery.
This configuration, typically priced at $69,900, is available to original reservation holders for $55,920 through the R1 Shop. While this represents a reduced price, it’s also for a less advanced vehicle, leaving customers with a challenging decision as the deadline approaches.
