California-based EV startup Rivian Automotive RIVN has included a pre-owned vehicle section on its online store which allows potential buyers to buy them at a lower cost than new vehicles.
What Happened: Potential customers can now buy both new and pre-owned vehicles at the R1 online shop.
The cheapest R1T used truck is priced at $62,370 on the website. The Model year 2023 R1T truck with forest green exterior paint has covered 16,581 miles.
The cheapest pre-owned R1S, meanwhile, starts at $73,150 and has covered 12,492 miles.
The website provides potential buyers with details such as issues identified with the vehicle, accident history, and time period of previous ownership. Some of the pre-owned vehicles also qualify for return in 7 days, an option unavailable with new vehicles.
Why It Matters: Rivian’s R1 electric vehicles are premium electric vehicles. While the R1T starts at around $70,000, the R1S starts at around $76,000. Some premium versions of the two vehicles start at around $100,000.
Buying a pre-owned vehicle allows the customer to make significant savings.
The inventory for used Rivian vehicles will likely build when existing customers trade them in for upcoming R2 vehicles. The company intends to start production of the R2 in the first half of 2026.
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