Who Cancelled Their Rivian Reservation?

[blturner]

I canceled one of my 2 Rivian reservations. Was kinda on the fence with that second one anyway. But now with the price rollback I will be reinstating the second. At the original price it is a really good deal. At the new price I was not sure if I could afford it at all. But the whole idea that BEV trucks were going to take over the market is gone. The premium is more than will ever be saved in gas. I am even starting to worry that the environmental impact is probably higher than worth it.

 

[Sgt Beavis]

During the Rivian earnings call, it was revealed that they will only be able to build 25000 vehicles in 2022. This was due to supply constraints. RJ did say they can build more if constraints are improved but this is where they are now.

If this is the case, there is no way I'll get an R1T this year.

 

[camaroz1985]

Yeah I wasn't expecting mine this year anyway. Hoping my second half 2023 still is possible. If not that does push it into Silverado timing. My choice isn't solely based on timing, but that would become less of an advantage to Rivian at that point.

 

[Cmiller81]

Yea I'm not getting my R1T anytime soon if they are pumping out such a sad number this year. If my # comes with quicker with the Silverado I won't wait for the R1T. Hell, I am not even that confident that rivian will be around for the long run at this point.

 

[camaroz1985]

Yea I'm not getting my R1T anytime soon if they are pumping out such a sad number this year. If my # comes with quicker with the Silverado I won't wait for the R1T. Hell, I am not even that confident that rivian will be around for the long run at this point.

They will be around. Don't fall for the doom and gloom stuff. They are ramping at one of the worst possible times (maybe only worse in mid 2020). They aren't going as fast as others think they should, but this is the first I have seen an actual production goal for a full year. Before it was always "plant capacity is up to X per year", but this is the first they have set a full year target at least publicly.

That said I totally understand not waiting. If I was truly 50/50 on the two trucks I would be fine with whichever comes first. I have been more 65/35 Rivian to Silverado, but I think I am now 60/40. That is mainly due to bad taste left from these pricing shenanigans, but also partly due to potential for slipping deliveries. I love the midgate of the Silverado and prefer the Silverado frunk design, but pretty much everything else I like the Rivian more. I would prefer a bed length of about 5-5.5 ft, so in between the two. If 2024 comes and I still don't have a truck, I might have to look at my priorities again.

 

[Cmiller81]

They will be around. Don't fall for the doom and gloom stuff. They are ramping at one of the worst possible times (maybe only worse in mid 2020). They aren't going as fast as others think they should, but this is the first I have seen an actual production goal for a full year. Before it was always "plant capacity is up to X per year", but this is the first they have set a full year target at least publicly.

That said I totally understand not waiting. If I was truly 50/50 on the two trucks I would be fine with whichever comes first. I have been more 65/35 Rivian to Silverado, but I think I am now 60/40. That is mainly due to bad taste left from these pricing shenanigans, but also partly due to potential for slipping deliveries. I love the midgate of the Silverado and prefer the Silverado frunk design, but pretty much everything else I like the Rivian more. I would prefer a bed length of about 5-5.5 ft, so in between the two. If 2024 comes and I still don't have a truck, I might have to look at my priorities again.

Only problem is that they are still obligated to make EVs for Amazon so that 25k isn't even what they will produce for gen pop. Think they are contracted to make 10k for Amazon so 15k for reservation holders is going to kill them considering they are now competing with car companies that have been around a hell of a lot longer and can grab up parts quicker than rivian can. I am still calling it that they will go under ?

 

[Hemlocke]

We're not expecting our R1T Max Pack until second half of 23 also. Which, if GM manages to be more adept at ramping up production in practice than in theory, means the Silverado has a real chance to swoop in and make the final sale with us.
But I'm nowhere near giving up on Rivian. I've seen a few tactics publicly traded companies have used during market turmoil to pacify shareholders and/or work with, or exploit stock volatility. It wouldn't surprise me if leadership here realizes that nothing they could have said this week was going to materialy change the market sentiment on the stock today, next week or even a month from now. At least, nothing said that would have been likely achievable.
Taking advantage now and lowering expectations for the future allows Rivian more breathing room to get It's act together and actually meet its slashed year-end expectations while at the same time giving itself a better chance of actually exceeding them.
As a professional, I've learned time and again to keep others' expectations of what I can deliver grounded while I do my best to give them the stars. It's done me well.