Exploring Alternatives Beyond Canceling Pre-Orders for Rivian's Electric Vehicles

Exploring Alternatives Beyond Canceling Pre-Orders for Rivian's Electric Vehicles
Rivian backtracks price increase on all R1T, R1S preorders before March 1

Rivian is a company that has been gaining traction in the electric vehicle market. Recently, they announced a price increase for existing pre-order holders which sparked debate among customers. Some argued that it was bait and switch tactics while others said it was a result of inflationary pressures due to the pandemic.

Regardless of the reason behind the increase, many customers are feeling frustrated with Rivian’s lack of communication and transparency. The 7 day return policy allows customers to take advantage of the situation by returning their vehicles after driving them for 7 days and getting their money back plus any taxes paid. This would flood the market with used Rivians and reduce demand for brand new ones.

However, this could be a risky move as Rivian may decide to rescind their 7 day return policy at any time. It is also worth noting that the price increase was not locked in so those who don't like it can always cancel their pre-orders without owing anything to the company. Alternately, customers can explore other options such as the Cybertruck or Ford Lightning if they have the means to do so.

Ultimately, Rivian missed an opportunity to build trust with its customers by increasing prices on pre-order holders instead of just implementing higher prices going forward. Although they reversed their decision, it remains to be seen how much damage has already been done to Rivian's profitability and future customer loyalty.

Rather than canceling their pre-orders, customers should consider taking a more proactive approach. They can reach out to Rivian and ask for an explanation of the price increase or request additional incentives such as free charging stations or extended warranties. This could be beneficial for both parties as it would give Rivian an opportunity to build trust with its customers while also providing them with added value that they may not have received otherwise.

In addition, customers can use this situation as a learning experience by researching other electric vehicle companies and comparing features, prices, and customer service before making any decisions about future purchases. Doing so will help ensure that they are getting the best deal possible when buying their next car.

At the end of the day, it is important to remember that no company is perfect but some are better than others at responding quickly and transparently when things don't go according to plan. Although Rivian has made mistakes in this instance, there is still hope for those who want to remain loyal customers if they take action now instead of simply canceling their pre-orders without exploring all available options first.

What happened with Rivian's price increase?

Rivian recently announced a price increase for pre-order holders, however they have since reversed this decision and will not be imposing the increase on existing pre-order holders.

What is bait and switch?

Bait and switch is a fraudulent advertising claim or sales offer for a product or service that is not available or not for sale at the stated price, made with the intention of luring customers who are then offered something else or forced to spend more money to get the same thing.

How can I take advantage of Rivian's 7 day return policy?

If you can afford it, you can take advantage of the 7 day return policy by taking delivery of your Rivian vehicle, driving it hard for 7 days, and returning it. You'll get your money back, plus any taxes you paid. This will flood the market with used Rivians which could reduce demand for brand-new vehicles.

What are some concerns about Rivian's price increase?

Early pre-order holders are disappointed in the price increase as it was unexpected and lacked transparency and ethics. There is also concern that if Rivian does not lose any pre-orders due to the increase, they could potentially rake in an extra 600-700 million dollars.

Is there anything else I should know about Rivian's price increase?

While Rivian has reversed their decision to impose the price increase on existing pre-order holders, they may still implement a price increase going forward for new orders due to inflationary and supply chain considerations. It is important to keep an eye on the market and be aware of any potential changes.