[St00k]

This isn't good. Currently 64% saying they will NOT be staying with Rivian

Poll: Are you staying with Rivian after the price increase?

After Rivian increased prices a lot, I thought it would be interesting to see how many are canceling their order or staying with Rivian. So make sure to add your vote to the poll! If canceling your R1T or R1S order, comment below on what vehicle you will be getting instead. Add your vote here...

www.rivianownersforum.com

 

[eHauler]

This isn't good. Currently 64% saying they will NOT be staying with Rivian

Poll: Are you staying with Rivian after the price increase?

After Rivian increased prices a lot, I thought it would be interesting to see how many are canceling their order or staying with Rivian. So make sure to add your vote to the poll! If canceling your R1T or R1S order, comment below on what vehicle you will be getting instead. Add your vote here...

www.rivianownersforum.com

If Rivian doesn't dial back on the increases, I expect some of those undecided to join the crowd moving on from Rivian. What will be interesting is where the majority head to:

Poll: What vehicle will you be getting instead of your...

What other vehicle will you be getting after cancelling your Rivian order? Don't forget to vote here as well: https://www.rivianownersforum.com/threads/poll-are-you-staying-with-rivian-after-the-price-increase.2425/

www.rivianownersforum.com

 

[Swanson]

I concur as I too have jumped off the fence. Maybe if the $ amount was set like others at $100. I can always come back in, but the pricing going over $100,000 is just stupid.

 

[Zaky]

It is not the preorders that is going to bite Rivian in the ass........
This may be the fall of Rivian. The Humpy Dumpty that can not be put back together.

Rivian was Wall Street's favorite electrical vehicle start-up. A great product for the adventure market at a good price offering that would spill over into the SUV market. They were innovative with a skateboard that different car form factors (T&S) were placed on. This allowed mass production of the skateboard. They replaced hardware, slip differential, axel with a motor at each wheel, and software.

Now, none of this is true. They can not deliver the cars at the price point, no longer have the large market segment due to the price point, and seems to have abandoned the skateboard to be a me-to, of the dual motor.

So did Rivian know about this Pre-IPO, four months ago? You have to assume they did. Did they mislead shareholders by not disclosing this on the IPO? Clearly, they did.
Now start the SEC investigation, shareholder class actions. I am sure there are law firms smiling this morning.

How could Rivian be so stupid? They raised so much funding with the IPO this could have been handled differently.
Is it time to short Rivian? Let's not forget what happened to Shorts with Tesla. Amazon owns 25%, which may be a risky move.

I have a T & S on order and am a shareholder. I am saddened by what I believed was a great company. I will be filing a grievance with the SEC.

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[mahendar]

Send Details on howto get SEC involved. This is a clear fraud case. Company profile was built using pre-order numbers and now ditching/duping the pre-order holders indirectly by increasing price at a inflation rate of 20%......

 

[Yellow Buddy]

This isn't good. Currently 64% saying they will NOT be staying with Rivian

Poll: Are you staying with Rivian after the price increase?

After Rivian increased prices a lot, I thought it would be interesting to see how many are canceling their order or staying with Rivian. So make sure to add your vote to the poll! If canceling your R1T or R1S order, comment below on what vehicle you will be getting instead. Add your vote here...

www.rivianownersforum.com

It was steady between 80-85% before the undecided was added. Its no coincidence that the undecided plus no equals roughly 85%. Those folks are giving Rivian an opportunity to right their wrongs or they'll be no's too...

 

[O. horridus]

As an undecided, I'll say that I'm giving Rivian a chance to fix this mess before I drop out.

 

[RivianDoc]

Market up 1.8% and Rivian down 13.5%. 🤔
I am sure they lost way more in value than they would have in income had they been loyal to customers who had been loyal to them and not created this narrative that they represented a price right up to the IPO when they should have known by then they would need to increase price but kept the charade going until after the IPO. What did they know and when? They don’t have proof of concept since all their “customer deliveries” were in-house. I don’t think they have the cachet to increase the price without an established product without risking customer and market pain.

 

[Yellow Buddy]

Market up 1.8% and Rivian down 13.5%. 🤔
I am sure they lost way more in value than they would have in income had they been loyal to customers who had been loyal to them and not created this narrative that they represented a price right up to the IPO when they should have known by then they would need to increase price but kept the charade going until after the IPO. What did they know and when? They don’t have proof of concept since all their “customer deliveries” were in-house. I don’t think they have the cachet to increase the price without an established product without risking customer and market pain.

I'd be curious to follow up investigations as well. We don't know but imagine if - pure speculation - that all employee vehicles were delivered prior to this announcement. Depending on who might have sold prior to the announcement, there might be insider trading issues asa well. The lawsuits are already spinning up and this has the potential to cost much more than they saved in multiple ways.

 

[IThinkFreely]

People power. RJ has walked back this whole debacle. His email will go a long way in repairing the damage.

 

[TessP100D]

It is not the preorders that is going to bite Rivian in the ass........
This may be the fall of Rivian. The Humpy Dumpty that can not be put back together.

Rivian was Wall Street's favorite electrical vehicle start-up. A great product for the adventure market at a good price offering that would spill over into the SUV market. They were innovative with a skateboard that different car form factors (T&S) were placed on. This allowed mass production of the skateboard. They replaced hardware, slip differential, axel with a motor at each wheel, and software.

Now, none of this is true. They can not deliver the cars at the price point, no longer have the large market segment due to the price point, and seems to have abandoned the skateboard to be a me-to, of the dual motor.

So did Rivian know about this Pre-IPO, four months ago? You have to assume they did. Did they mislead shareholders by not disclosing this on the IPO? Clearly, they did.
Now start the SEC investigation, shareholder class actions. I am sure there are law firms smiling this morning.

How could Rivian be so stupid? They raised so much funding with the IPO this could have been handled differently.
Is it time to short Rivian? Let's not forget what happened to Shorts with Tesla. Amazon owns 25%, which may be a risky move.

I have a T & S on order and am a shareholder. I am saddened by what I believed was a great company. I will be filing a grievance with the SEC.

View attachment 4808

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Dam, well said

 

[TessP100D]

As an undecided, I'll say that I'm giving Rivian a chance to fix this mess before I drop out.

You must have more funds than I do..

 

[TessP100D]

People power. RJ has walked back this whole debacle. His email will go a long way in repairing the damage.

Really? A long way. sorry but the long term damage is done, and so is RivIan.

 

[IThinkFreely]

Really? A long way. sorry but the long term damage is done, and so is RivIan.

Repairing the damage in terms of lowering the temperature within the preorder community I meant.

Is Rivian doomed because of this? Perhaps. I have questioned their ability to survive long before this debacle and now they just committed to building 75K or so cars for a loss.

I don't pretend to know enough about stocks or the SEC to try and predict an outcome on this but a class action lawsuit must be getting typed up this very minute.

There is no doubt they are a very poorly run company. RJ is not a multi billion dollar CEO. He needs to step back...far back. Bigger, badder companies are eyeing Rivian's bloodied body right now.

 

[Jake Blues]

It is too early to tell how much permanent damage has been done. I cancelled 15 minutes after receiving the price hike email on March 1st because the new price exceeded what I wanted to pay for a new vehicle. With my R1S configuration that was $78,800 before the increase is now at $93,600. There is also the loss of the $7,500 tax credit. Combined, that was too much of an increase for me. I fully understand supply chain and cost of goods increase present today. I understand the price increase, but just did not pay for it.

I do think there was some bait and switch involved though. Rivian should have been incrementally increasing prices of the configurator as their costs increase while holding existing reservations with the price listed at the time of reservation.

In the end, I appreciate RJ's "falling on his sword" email. I will be having Rivian restore my reservation. Sadly for Rivian, thousands of reservations will not return. At least I still have around a year to watch what happens to Rivian before my final commitment to purchase.

 

[O. horridus]

There is also the loss of the $7,500 tax credit

This is a misconception. The price hike would not have lost you the tax credit. Please look it up and stop repeating false information.

 

[Jake Blues]

This is a misconception. The price hike would not have lost you the tax credit. Please look it up and stop repeating false information.

I apologize if I offended you. I do my research, but it must be out of date. I now see the $80K limit was in the build back better proposal. There were many previous discussions on this forum about the issue.

 

[TT97]

This is a misconception. The price hike would not have lost you the tax credit. Please look it up and stop repeating false information.

I apologize if I offended you. I do my research, but it must be out of date. I now see the $80K limit was in the build back better proposal. There were many previous discussions on this forum about the issue.

We need a bot that does that automatic reply every time someone references the $80k limit (I am not blaming @Jake Blues as I have seen multiple people make the same quote). The $80k limit was from the Build Back Better bill that is DOA. There is no guarantee the BBB will ever pass; and if it does, there is no guarantee that the $80k limit will still be there (the limit could just as easily be lowered to $50k or $60k so we will all lose the tax credit regardless).

If only the process is as easy as the video...

 

[IThinkFreely]

Repairing the damage in terms of lowering the temperature within the preorder community I meant.

Is Rivian doomed because of this? Perhaps. I have questioned their ability to survive long before this debacle and now they just committed to building 75K or so cars for a loss.

I don't pretend to know enough about stocks or the SEC to try and predict an outcome on this but a class action lawsuit must be getting typed up this very minute.

There is no doubt they are a very poorly run company. RJ is not a multi billion dollar CEO. He needs to step back...far back. Bigger, badder companies are eyeing Rivian's bloodied body right now.

It was low hanging fruit so no surprise on this...

Rivian is sued for allegedly misleading investors about electric vehicle prices

Rivian Automotive Inc has been sued by a shareholder who claimed the startup failed to tell investors it had underpriced its electric vehicles, leading to unpopular price hikes that it swiftly rolled back.

www.reuters.com