Rivian Repair Nightmare: R1T Owner's Patience Wears Thin With 8-Month Service Wait
Portfolio Pulse from Anan Ashraf
A Rivian Automotive Inc (RIVN) R1T owner has been waiting for eight months for repairs after an accident. The delay was due to a specialized diagnostic software requirement and further damage during the repair process. Despite this, Rivian delivered 15,564 vehicles in Q3 and reported a revenue of $1.337 billion, with a loss of $1.19 per share, beating estimates. The company aims for a positive gross profit by 2024 and is developing its R2 platform.
December 27, 2023 | 10:13 am
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NEUTRAL IMPACT
Rivian faces negative publicity due to an R1T owner's lengthy repair wait, but the company's Q3 performance exceeded expectations and it's planning for future profitability.
The negative customer service experience could harm Rivian's brand reputation and customer satisfaction, potentially affecting investor sentiment. However, the company's better-than-expected Q3 financial performance and strategic plans for future profitability may mitigate the short-term impact on the stock price. The balance between these factors leads to a neutral score.
CONFIDENCE 75
IMPORTANCE 60
RELEVANCE 80