MEMPHIS REISEN

Rivian Cut R1S, R1T Prices In Existing Inventory By Thousands

The custom order 2024 Rivian R1S and R1T prices remain unchanged, but vehicles from existing inventory are a different story, definitely worth checking.

According to Drive Tesla Canada, Rivian applied substantial price cuts to its 2023 and 2024 model year R1S and R1T in existing inventory in the U.S. and Canada.

The challenging market requires promotions

So far, Rivian was consistently increasing its EV production and deliveries (year-over-year). However, the company set a guidance for the annual production of 57,000 in 2024, which would be the same as the result achieved in 2023.

The report says that the rebates concern optional powertrain and battery packs. In the case of the R1S three-row SUV, the noticed cuts in the U.S. include:

• Large Pack battery: $7,100 (down $2,000 from $9,100)
• Max Pack battery: $15,100 (down $4,000 from $19,100)
• Quad-Motor AWD powertrain: $6,000 (down $2,000 from $8,000)

Similarly, R1T pickup also got price cuts:

• Large Pack battery (DM powetrain): $5,100 (down $4,000 from $9,100)
• Large Pack battery (DM Perf. or QM powertrain): 3,100 (down $6,000 from $9,100)
• Performance Dual-Motor AWD powertrain: $0 (normally $5,000)

Of course, buyers have to individually check the exact pricing in the existing inventory in a particular area, as availability might be limited, while rebates are dynamic.

Rivian R1S

Rivian R1T

Nonetheless, it seems that Rivian intends to clear some of its inventory and boost its Q2 sales results, as the 2024 year is expected to be flat sales-wise. In Q1, the company sold over 13,000 EVs (up 71% year-over-year but less than in the previous three quarters).

The Rivian R1S and R1T lineup now consists of several battery and powertrain options (including the new Standard/Standard+) and is eligible for a $3,750 federal tax credit as long as it is under the $80,000 price cap.