California-based EV startup Rivian Automotive Inc RIVN supersedes legacy players like BMW BMWYY and Porsche POAHF in shopper satisfaction, as per a current survey.
What Occurred: Client Stories ranked Rivian on the prime in proprietor satisfaction amongst 29 automobile manufacturers with 86% of householders saying in a survey that they’d buy a automobile from the corporate once more. The highest place was beforehand occupied by EV large Tesla Inc TSLA who has now slipped to the fifth place with solely 74% of householders expressing willingness to purchase a Tesla automotive once more.
Rivian additionally scored properly in particular areas together with driving dynamics, automobile consolation, cabin storage, and possession prices.
Others to characteristic within the prime 5 most beloved auto manufacturers embody Mini, BMW, and Porsche. Apparently, Mini jumped 11 spots to get to quantity 2.
The least proprietor satisfaction is from house owners of Infiniti, Volkswagen, Nissan, Jeep, and Audi autos, the report famous.
Rivian CEO RJ Scaringe responded to the report and stated, “Nice work group!!”
Why It Issues: Rivian presently has two electrical autos in its lineup- the R1T truck and the R1S SUV, each priced at over $70,000. The corporate is presently engaged on its lower-priced R2 platform.
Through the third-quarter earnings call, CFO Claire McDonough introduced that R2 platform manufacturing would start in 2026, with product unveilings anticipated in early 2024. The R2, whereas retaining the model’s essence, can be extra compact and obtainable at a cheaper price level.
“There’s an excessive vacuum of alternative we really feel within the type of $45,000 to $50,000 value vary for midsize SUVs,” Scaringe then stated, highlighting the restricted choices and concentrated market share held by Tesla, whose Mannequin 3 begins at $38,990, whereas the Mannequin Y begins at $43,990.
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Rivian Shares. Picture by way of Shutterstock