I can't say it was "WAY" underpriced. It was certainly reasonably priced, possibly somewhat on the low side. But, it's also a startup company with no proven track record. That price point was important to convince people to go with an unproven product over the tried and true of major manufacturers.
The CyberTruck, can't make any judgments on that until some day, that it is eventually released for sale and at what price point. To their credit, while brief, they did eventually build a $35,000 Model 3, keeping their word to do so.. So, maybe they'll do the same with the truck? As noted, Tesla has done some shady crap too through. They're no angels. Nothing quite to this extreme, but shady none the less and a primary reason why I'm moving on from them. Forcing people to pay $250,000 deposits for a Roadster promised years ago, or $50,000 for the "cheaper" version only to still be nowhere close to production after it was promised in 2019. Selling millions of "Full Self Drive" options, a feature that still doesn't exist and isn't likely to for years to come, and they keep raising the price of it and delivering nothing for it. Just in the past year, some features in that direction are being made available, if you jump through Tesla's hoops to get use of the $10,000 (now $12,000) option you paid for. I had FSD on two prior cars and got absolutely nothing for it prior to having sold each of those cars. .
I love the innovation of these companies, but at the same time, was quite frustrating to buy a Tesla, only to have them unexpectedly announce major hardware changes two weeks later that just made the new car you purchased less than 30 days prior, outdated. How about selling cars for $170,000, because there were enough suckers to pay those prices for them, then dropping the prices by some 30-40% almost overnight. I configured a fully loaded Performance Model S and it was nearly $170,000. A month later, bought the same car for $110,000. While I benefitted, existing owners were screwed by the instant devaluation of their cars. Tesla then decided that they were going to limit how many times owners could "floor it" on their performance cars. Warranty costs were too high, so they thought they could tell owners, you can only "floor it" 10 times before we reduce the power. That was nearly as bad as Rivian's deal. Tesla reversed course on that one pretty quick. The list goes on and on. They sell Full Self Drive for $10,000, then if they take the car on trade, remove the feature and sell it again to the next owner on the same car, despite it being an option on the window sticker.
Rivian is following the same footsteps. I'm thankful that it happened now as I really don't want to go on the Tesla ride again. Maybe the other manufacturers won't update their cars as often, but at least if I buy a 2023 Model vehicle in November, 2022, I know I'll have a "current model" for at least a year. Rather than when I bought one of my Tesla's just prior to the change from AP1 hardware to AP2 hardware. Try buying a 2015 Model S and figuring out what you get? Some 2015's are one thing, others are an entirely different car. Certainly there are benefits to the way Tesla does some things. But, I'm ready for a more predictable path. For better or worse, at least I know what I'll be getting with any of the major manufacturers.
I'm done with these direct to consumer manufacturers attitude of "if you don't like it, tough". Our only power is to not buy it. Tesla was incredible at the start. Then, their heads got really big and their attitude changed drastically. Especially in today's world, demand outweighs supply, so these manufacturers are raping customers.....because they can. Just 2 1/2 years ago, Tesla was begging customers to buy their cars. It will be that way again in the future. Big manufacturers realize the BIG PICTURE and remain fairly consistent through good and bad times. These small companies are taking advantage of short term gains, not realizing the long term effects that pissing off customers will have. Tesla was lucky to be the only game in town for 10 years. That's all changing. Check back in 2-3 years when supply shortages subside and these guys have to slash pricing to sell a car. Anyone buying today will pay a significant price in 2-3 years when they go to sell their cars in a down market. By that time, brand new cars will be selling at prices less than what you still owe on your three year old car. Again, I looked ahead and have done well to avoid most of Tesla's crap and even benefitted. My current 2019 car is worth as much today as I paid for it 2 1/2 years ago. But, I do feel for all the people that bought cars a year earlier. My dad purchased his car, which has inferior features to my car, for $20,000 more than what I paid for mine and his is worth $10,000 less than mine is today. This time period we are in, is the worst time to cave and buy a vehicle from one of these companies taking advantage of the current environment. Tesla included. Rivian now included. Ford, not so much. They're pricing has remained fairly consistent. As has GM's. The Rivian in the $70's was reasonable. At $95k+, not a chance. It will be worth $50,000 at best in 3 years. Come back in three years and correct me if I'm wrong!
