Rivian’s vehicles might be popular and offer cool features, but they’re far from affordable. That will change, at least for lessees, for a little while, as the automaker is offering deep discounts on some models.
The R1T’s lease prices go as low as $559, making it less expensive monthly than some full-size gas models. That price includes $7,500 in lease cash and applies to the R1T Standard Adventure Package truck. It also requires a $7,454 down payment to start the 36-month lease. It’s worth noting that the company does not offer leases in all states, including here in Maine.
Rivian is far from the only automaker implementing lease discounts to drive business. Hyundai, Kia, General Motors, and Ford have all offered price cuts in recent months. That said, the others sell gas vehicles and hybrids that can bolster their bottom lines as EV demand grows more slowly than hoped.
Rivian has also offered trade-in incentives to owners of competitive gas vehicles to drive sales, but it will be a while before its new platform arrives, bringing smaller, more affordable models to its catalog. Despite layoffs, the situation isn’t bleak for the automaker yet, though 2024 will be a pivotal year.
Even with layoffs, life at Rivian appears to be slightly less hectic than at Tesla, which has had enough rollercoaster ups and downs in recent months to make anyone’s head spin. The company recently fired its entire Supercharger staff, only to rehire them shortly after, and there’s no telling where its Robotaxi or affordable EV plans will lead this year into next.
[Images: Rivian]
Become a TTAC insider. Get the latest news, features, TTAC takes, and everything else that gets to the truth about cars first by subscribing to our newsletter.
