Rivian Is Now In the Used EV Business
For a long time after their releases, buyers faced extended wait times for the Rivian R1S SUV and R1T pickup. While that situation has largely become a nonissue as the automaker has scaled production and early enthusiasm subsided, Rivian will soon offer buyers another purchasing option that could bring lower prices and much faster delivery times.
Rivian recently announced a new pre-owned vehicle program for its two current EV offerings, which will help its bottom line and could mean better deals for customers. The automaker said that the program “will expand R1 ownership and make owning a Rivian accessible to more people.”
Industry observers believe Rivian’s pre-owned program is a smart move. Edmunds senior analyst Ivan Drury said, “It’s almost mandatory if you want to be taken seriously. For consumers testing the waters on brands they’ve never had experience with, you want as many things as possible that inspire confidence, and these programs speak to that.”
That said, Drury also believes the program will become popular with buyers. EVs depreciate faster than gas and hybrid vehicles, and letting the first owner eat those costs can mean big savings on used models. He said that prospective EV buyers should only be considering leasing a new vehicle or purchasing a used one.
“No one should be purchasing a new EV unless they have absurd levels of disposable income,” he noted.
Rivian’s pre-owned program is similar to Tesla’s in that buyers have a range of vehicles to choose from, and the company delivers them directly to them as it does with new models. All pre-owned vehicles “undergo a comprehensive inspection before becoming available for sale and are priced according to their mileage and condition,” Rivian noted, though it avoids using the term “certified” to describe them.
[Images: Rivian]
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Chris grew up in, under, and around cars, but took the long way around to becoming an automotive writer. After a career in technology consulting and a trip through business school, Chris began writing about the automotive industry as a way to reconnect with his passion and get behind the wheel of a new car every week. He focuses on taking complex industry stories and making them digestible by any reader. Just don’t expect him to stay away from high-mileage Porsches.
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