Rivian offers $3K discount to buyers upgrading from a gas car, with a catch

Rivian is bringing back its “All-Electric Upgrade Offer” until November 30, but with some changes to the program.

Earlier this year, Rivian offered $1,000 to $5,000 off a new Rivian when you trade in an older gas-powered vehicle from April through June. The offer was available on specific vehicles and had a sliding scale of discounts depending on which Rivian vehicle you order.

Now the program is back, but with minor changes compared to the previous version.

Starting today, October 31, if you purchase a new production Rivian R1T or R1S vehicle from the R1 Shop, you can receive a $3,000 rebate if you also prove you own or lease an eligible gas-powered vehicle.

This is at once simpler, gentler, and more restrictive than the previous proposal in many ways.

First, the discount is a flat $3k (or $4,100 CAD) rather than a scale based on which model you order, which is more sensible.

Secondly, the discount applies to every owner of a gas or hybrid car – you don’t have to sell your car, and you’re not limited to a specific list of vehicles. Simply prove that you own or lease a gas car (copy of registration, proof of insurance, etc.) and you will receive a discount.

However, thirdly, there are stricter restrictions on what cars you can buy. Current offer valid only for new Rivian vehicles in the R1 storeand does not include showroom, used or custom vehicles. This also doesn’t apply to the base Rivian Dual Standard models, but everything else is fair game.

To be eligible, you must place your order between now and November 30th and receive your vehicle by December 31st. Check out all the offer features on Rivian’s website here.

Electrek’s Gaze

Rivian is clearly trying to pad its year-over-year numbers with this offering as the luxury car market is somewhat sluggish due to elevated interest rates. The company cut its full-year delivery forecasts only slightly, now expecting to see roughly the same shipments this year as last.

But the R1 cars have just received a huge update to help the company cut costs and offer new features. The R1S continues to be one of the most popular luxury cars in the United States, and the company’s products have earned universal acclaim from owners.

What’s interesting is that earlier this year, before the update, Rivian had a similar offer to help clean up its fleet of older vehicles. The company didn’t see fit to offer the discount last quarter, perhaps due to the updated model, but after tough deliveries in the third quarter, it brought the offer back.

Rivian still expects a small gross profit in the fourth quarter, although we’re confident we’ll hear more about that in its upcoming quarterly report next week.

If our coverage of Rivian helped you learn 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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