Rivian Cancels 7-Day Vehicle Return Policy, Urges Customers To Do Test Drives And Walk-Arounds Instead
Portfolio Pulse from Anan Ashraf
Rivian Automotive (NASDAQ:RIVN) has canceled its 7-day vehicle return policy, urging customers to test drive and do walk-arounds instead. This move is part of Rivian's cost-cutting measures as it aims to turn its first-ever quarterly gross profit in Q4 2024. The company is also forming a joint venture with Volkswagen to create software-defined vehicle platforms.
July 06, 2024 | 8:01 am
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Rivian has canceled its 7-day return policy, urging customers to test drive and do walk-arounds instead. This move is part of Rivian's cost-cutting measures as it aims to turn its first-ever quarterly gross profit in Q4 2024.
The cancellation of the return policy is a significant cost-cutting measure that could improve Rivian's financials. This aligns with their goal of achieving their first quarterly gross profit in Q4 2024. The move is likely to be viewed positively by investors focused on the company's path to profitability.
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