Dude the car market has a middle man enshrined and protected by the state to exist, I reject the entire argument that it is a free market. That middle man represents literally every single make and model owned in most cases by mult-billion (yes billion) dollar publicly traded companies that exceed the size of some of the automakers they sell! If they represent the entirety of a single point of access of all cars sold, across every brand, where is the free market?
This is a silly argument to have because at it's flawed at its roots. The new car market is not unregulated. You already live in the Soviet model but just don't want to admit it.
If they're not locking in price, they're not locking in your place in line, what exactly are they giving you? They're offering you literally nothing but your money back if they do decide to alter the arrangement and make it unpalatable. The answer is they're tricking you every time you put that money up. They're able to do that because people have to drive cars and they have all of them.
Over the past 2 years it's been the consumer who eats the inflation end over and over and over again and has to pay the supply problem even when the automaker is against it. Rivian here has some financial issues and whoops, convenient free market arguments fly out, shame on me for trying to buy a car.
Done with it. Never again will I place a reservation on a car. I'd rather drive an ICE if it ever came to that.
Good for you! You know, you could always wait for demand to go down, and hope that the purchase price goes down to something you find more reasonable? This usually happens with the dealership model of sales, with dealership markup on cars that are "hot" when they first hit the market. Being first in line costs money, if you don't want to pay, don't! Go to the back of the line and laugh at the people who paid more to be first. This is unlikely to happen with Rivian though since it is not a dealer markup on a popular new model, it is a price increase due to real world inflation levels combined with possible stock shenanigans. What you are actually complaining about is totally different though. You are complaining about paying refundable reservation money (not a deposit) to be front of the line with the option to purchase
, you know this... so how are they tricking you? This is a PR nightmare for them because it breaks trust... Tesla didn't raise the price of the Model 3, they just refused to produce the low cost one for years in hopes of converting base model reservation holders into higher trim level purchasers... dishonest... but not as bad as Rivian.
I also think that paying money to reserve a car is silly, that is why I don't do it and never have. I don't feel the need to give an interest free loan to any company including the federal government... it always strikes my funny bone when someone brags about how big of an income tax return they got. I have never given a penny to reserve a car, and I try to achieve near zero on income tax returns. I have paid a deposit upon ordering a car a few times, thus locking in the purchase price.
My question is, why do you feel slighted by this price increase? If you don't think the Rivian is worth the current asking price don't purchase one. If you do think it is worth the current asking price then go ahead and purchase one. If you think Rivian is just trying to please stock holders and increase share price, then you may be partially right... I am sure that avoiding bankruptcy will be pleasing to the share holders, and not going bankrupt will keep share prices above junk bond level. It appears that you don't like that the free market excludes you from purchasing things that you want.. just because I can't purchase a $20,000,000 mansion in an expensive gated community in Southern California doesn't mean the seller of that mansion has a monopoly on housing.
After reading more in the thread I understand your point of view better, I didn't realize they actually changed the price on vehicles that were configured by they buyer... I thought it was more of a "generic" reservation.
At this point Tesla is the only American manufacturer breaking the dealership mold, but many of the legacy OEM's would love to do so as well if they could get away with it, but dealerships have boat loads of lobbyists. Ford is so fed up that they will give out lists of dealerships that are selling for MSRP without dealer markup.
I think you should re-instate your reservation... if you love the Rivian keep it, if not sell for a huge profit. As far as ICE cars, have you looked up prices?