A Rivian Owner Paid A Whopping $42,000 — Roughly Half The Price Of His Truck — For A Fender Bender
Portfolio Pulse from Bibhu Pattnaik
A Rivian Automotive Inc (NASDAQ: RIVN) EV owner was charged $42,000 for a minor fender bender repair, roughly half the price of his truck. The high cost was attributed to the scarcity of repair facilities for the Rivian R1T and the associated expenses involved in fixing EVs equipped with advanced technology components. Rivian, like Tesla Inc (NASDAQ:TSLA), follows a non-dealer approach, resulting in limited repair options.
July 15, 2023 | 5:26 pm
News sentiment analysis
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NEGATIVE IMPACT
Rivian's high repair costs could deter potential customers, potentially impacting its stock price.
The news highlights the high costs associated with repairing Rivian's EVs, which could deter potential customers and negatively impact the company's stock price.
CONFIDENCE 80
IMPORTANCE 75
RELEVANCE 100
NEGATIVE IMPACT
Tesla, like Rivian, follows a non-dealer approach, resulting in limited repair options. This could potentially impact Tesla's stock price.
The news indirectly highlights the potential high costs and limited options for repairing Tesla's EVs, which could negatively impact the company's stock price.
CONFIDENCE 70
IMPORTANCE 50
RELEVANCE 50