Rivian, the electric pickup truck and SUV builder that outperformed its peers on a number of levels in late 2021, hasn’t been immune to the loss in share value.
Rivian jumbled its order of delivery
"At this point,” he said to Reuters, “if Ford comes through first, I think I'll go with them.”
Other obstacles blocking Rivian’s road to success
Shocked order-holders were quickly assured by an announcement a day later that the increases would only apply to new reservations, but initial lack of communication put some on edge in way that was difficult to come down from.
Beyond their self-inflicted wounds, Rivian has also been forced to deal with economic crises wreaking havoc on the industry—especially for newcomers.
Rivian still in a better situation than most for honoring pre-sales
Despite the hiccups, Rivian is still one of the best EV startup to bet on.
Drivers still like what they see enough to help keep the brand going. Since March, about 20,000 new pre-orders have been made.
What owning a Rivian will cost you
Rivians are getting more expensive. The price hike announced in March surprised some, but apparently, it could just be the start. New pre-orders don’t come with any price guarantee, and some say the Rivian models offered right now can only be profitable if sold for $95,000.
If you end up receiving a Rivian and you want to save on coverage, the Jerry app is a good place to start. A licensed broker, Jerry does all the hard work of finding cheap quotes from the top name-brand insurance companies and buying new car insurance.
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