Rivian is bringing back its “All-Electric upgrade offer” from now until November 30th, but with some changes to the program.
Earlier this year, Rivian offered $1k-$5k off a new Rivian if you trade in an old gas car, from April to June. The offer was available for specific vehicles, and with a sliding discount scale based on which Rivian vehicle you order.
Now the program has come back, but with quite a few changes from the previous version.
As of today, October 31, if you buy a new Rivian R1T or R1S new inventory vehicle from the R1 Shop, you can get a $3,000 discount if you also prove that you own or lease a qualifying gas-powered vehicle.
This is simultaneously simpler, more lenient, and more restrictive than the previous offer, in various ways.
First, the discount is a flat $3k (or $4,100 CAD), rather than having a scale based on what model you order, which is more streamlined.
Second, the discount applies to every gas or hybrid vehicle owner – you don’t have to trade in your vehicle, and you’re not limited to a specific list of vehicles. Just prove that you own or lease a gas car (copy of registration, proof of insurance, etc), and you get the discount.
However, third, it’s more restrictive as to what vehicles you can purchase. The current offer applies only to Rivian new inventory vehicles in the R1 Shop, and excludes demo vehicles, pre-owned vehicles, or custom build vehicles. It also does not apply to Rivian’s base Dual Standard models, but everything else is fair game.
In order to qualify, you need to place your order between today and November 30, and you must take delivery of the vehicle before December 31. Check out all the specifics of the offer on Rivian’s site here.
Electrek’s Take
Rivian is clearly trying to round out its yearly numbers with this offer, as the market for pricy cars is somewhat soft with increased interest rates. It just slightly lowered its annual delivery guidance, now planning to see roughly similar deliveries this year than last.
But its R1 vehicles just got a huge refresh to help the company with costs and to offer new features. The R1S is still one of the most popular high-priced vehicles in the US, and the company’s products earn universal acclaim from owners.
The interesting thing is that Rivian had a similar offer earlier this year, before the refresh, to help clear out inventory of older vehicles. It didn’t see it fit to offer the discount last quarter, perhaps buoyed by the updated model, but after a rough Q3 of deliveries it now brought the offer back.
Rivian is still guiding to reach a slight gross profit in Q4, though we’re sure we’ll hear more about that in its upcoming quarterly earnings next week.
If our coverage of Rivian has helped inform you about the brand, feel free to use our Rivian referral code to get 6 months of free charging or 750 Rivian Rewards points with your purchase.
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