Photo: Rivian
Rivian continues to drop the prices of its vehicles in the inventory in preparation for the 2025 R1S and R1T launch. The latest round of incentives offers big discounts on the most important upgrades concerning drive configurations and battery pack options. This makes the R1T Dual Motor up to $9,000 cheaper, and that is before counting all other incentives offered in earlier rounds.
Rivian is preparing to start sales of the revamped R1T and R1S this summer, and the general feeling is that this will happen earlier rather than later. Most people expect an official announcement during the 2024 Investor Day scheduled for June 27. Rivian will likely start sales immediately or risk diminished sales due to the Osborne effect on the older vehicles in the inventory.
Speaking of which, Rivian still has vehicles from the 2023 model year listed for sale, which is puzzling. The EV startup tried hard to move metal by throwing incentives left and right and lowering the lease rates. It also offered big discounts to its employees for the 2023 model year vehicles, amounting up to $7,250 in the case of the 2023 Rivian R1Ts with Max battery pack.
Rivian also offered sweet deals to early reservation holders who reserved an R1T EV before March 1, 2022. The R1T price starts at $55,920 for them before incentives for a dual-motor R1T with the Standard battery pack. Those who placed a preorder between March 1 and May 25, 2022, get a "preorder pricing voucher," which should amount to a 20% discount on all R1T and R1S versions.
Now, the EV startup is throwing another bonus for people ordering a 2023 or 2024 vehicle from Rivian's inventory. This time, instead of discounting the vehicle's price, Rivian is dropping the price of upgrades. In the case of 2023 and 2024 R1S, the Quad-Motor and Large battery pack upgrades cost $2,000 less, while the Max battery option is $4,000 cheaper. This effectively makes an R1S up to $4,000 cheaper.
People ordering a 2023 R1T Dual Motor from inventory get an even better deal, thanks to Rivian offering the Performance upgrade free of charge (down from $5,000). If you order the truck with the Large battery pack, you get another $4,000 discount. Those opting for a 2024 R1T can get a $6,000 discount on the Large battery pack when buying a Dual-Motor model or a $4,000 discount on Performance Dual-Motor and Quad-Motor models.
Some people who placed an order before the new discounts were announced reported that Rivian also contacted customers to lower their pricing. This is the right thing to do to keep customers happy. If you're expecting to take delivery of your Rivian EV soon, contact your guide and see if this also applies to your configuration.
Although these discounts look impressive, they do not cost Rivian anything. The free upgrade to a Dual Motor Performance model is nothing but a software unlock, while the Large battery pack is also the same hardware as the Standard/Standard+ packs. These incentives are made possible with a software update, which current owners of lesser models could also benefit in the future. Rivian could offer a paid upgrade to those who wish more performance and/or more range, boosting its revenue.
Speaking of which, Rivian still has vehicles from the 2023 model year listed for sale, which is puzzling. The EV startup tried hard to move metal by throwing incentives left and right and lowering the lease rates. It also offered big discounts to its employees for the 2023 model year vehicles, amounting up to $7,250 in the case of the 2023 Rivian R1Ts with Max battery pack.
Rivian also offered sweet deals to early reservation holders who reserved an R1T EV before March 1, 2022. The R1T price starts at $55,920 for them before incentives for a dual-motor R1T with the Standard battery pack. Those who placed a preorder between March 1 and May 25, 2022, get a "preorder pricing voucher," which should amount to a 20% discount on all R1T and R1S versions.
Now, the EV startup is throwing another bonus for people ordering a 2023 or 2024 vehicle from Rivian's inventory. This time, instead of discounting the vehicle's price, Rivian is dropping the price of upgrades. In the case of 2023 and 2024 R1S, the Quad-Motor and Large battery pack upgrades cost $2,000 less, while the Max battery option is $4,000 cheaper. This effectively makes an R1S up to $4,000 cheaper.
People ordering a 2023 R1T Dual Motor from inventory get an even better deal, thanks to Rivian offering the Performance upgrade free of charge (down from $5,000). If you order the truck with the Large battery pack, you get another $4,000 discount. Those opting for a 2024 R1T can get a $6,000 discount on the Large battery pack when buying a Dual-Motor model or a $4,000 discount on Performance Dual-Motor and Quad-Motor models.
Some people who placed an order before the new discounts were announced reported that Rivian also contacted customers to lower their pricing. This is the right thing to do to keep customers happy. If you're expecting to take delivery of your Rivian EV soon, contact your guide and see if this also applies to your configuration.
Although these discounts look impressive, they do not cost Rivian anything. The free upgrade to a Dual Motor Performance model is nothing but a software unlock, while the Large battery pack is also the same hardware as the Standard/Standard+ packs. These incentives are made possible with a software update, which current owners of lesser models could also benefit in the future. Rivian could offer a paid upgrade to those who wish more performance and/or more range, boosting its revenue.
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