Early November marks the beginning of the Black Friday shopping season, and Rivian is capitalizing on this opportunity to entice gasoline car drivers to switch to electric vehicles (EVs). The American EV manufacturer is offering a $3,000 discount to owners or lessees of gasoline-powered vehicles, including hybrids, on select all-electric Rivian models. This incentive doesn’t require a trade-in and is valid until November 30, 2024, for customers in the U.S. and Canada.
Rivian’s All-Electric Upgrade Program
This new All-Electric Upgrade program applies to 2025 Rivian R1S and R1T models with Dual Large, Dual Max, or Tri Max battery packs purchased directly from the R1 Shop. The program represents a shift from Rivian’s previous trade-in program, which ran from April to June 2024. That program offered up to $5,000 off a new Rivian for owners trading in specific 2018 or newer gas-powered models from select manufacturers like Ford, Toyota, Jeep, Audi, and BMW. Now, prospective R1S or R1T buyers simply need to provide proof of ownership or lease of any gasoline or hybrid vehicle to qualify for the $3,000 discount.
Competitive Landscape and Inventory Levels
Rivian is unlikely to be the only automaker offering discounts this November. Sluggish sales from major automotive groups like Stellantis, coupled with increasing new car inventories thanks to improved supply chains, suggest that manufacturers and dealerships will be vying for customers with attractive incentives through the end of the year. This comes after several years of limited supply following the COVID-19 pandemic, which drove up vehicle prices in North America.
Car Prices and Inventory Trends
While average selling prices remain relatively high, they are expected to continue to adjust as inventories rise. According to CarEdge Insights, Stellantis currently holds the largest inventory, followed by GM and Ford. Conversely, Toyota and Honda have the lowest inventory levels, suggesting they may not face the same pressure to offer substantial discounts.
Conclusion
Rivian’s $3,000 discount provides a compelling incentive for gasoline car owners considering a transition to electric vehicles. This offer, combined with the anticipated increase in promotional activity across the automotive industry due to rising inventories, presents a favorable opportunity for buyers in the EV market.
All-Electric Upgrade
previous trade-in program
CarEdge Insights
