Rivian makes excellent electric trucks and SUVs, but it’s not great at actually making money on them yet — the company loses tens of thousands of dollars on every EV it gets out the door. To rectify those financial woes, Rivian is now offering thousands of dollars off its R1S and R1T in hopes of boosting sales. Discounts start at $3,000 for dual-motor models with the Max battery pack, and go up to $6,000 for the mid-range tri-motor Max pack trim.
There’s only one catch to earn the discount: You have to get an estimate on a trade-in vehicle. Notably, you don’t actually have to trade in a vehicle. The deal is called the “All-Electric Upgrade Offer,” which sounds like a classic conquest incentive — offer discounts for customers who are new to your brand in hopes they’ll stick around. The odd thing with Rivian’s deal, though, is that conquests are most often lease deals. Here, it’s cash on the hood for a sale.
Rivian’s two lowest trims, the base Dual Standard and the Dual Large, don’t get any kind of conquest discount. The Dual Max gets $3,000 off, the Dual Max witn Performance Upgrade gets $4,500 off, and the Tri Max gets the full $6,000. The top-of-the-line quad-motor model isn’t being delivered yet, so it’s got no incentives available for now.
The deal is only good for vehicles delivered through the end of March, which takes advantage of the uncertainty around the current state of electric vehicles in the United States. There’s a sense of urgency around EV purchases right now, and it seems Rivian’s hoping to take advantage.
