Rivian R1T’s brutal depreciation a potential opportunity for budget conscious EV buyers
The resale values of electric vehicles has been a notable topic this year, partly due to the fact that EVs tend to see a lot of depreciation in their first years. This depreciation, however, could potentially help budget-conscious buyers acquire great electric cars at very reasonable prices.
Take this 2023 Rivian R1T Adventure quad-motor unit, for example. As noted in a report from autoevolution, the owner of the vehicle paid a total of $95,400 for the all-electric pickup truck when it was bought new. But when the vehicle was recently put up at an auction, it fetched $62,000 on Bring a Trailer. That’s a depreciation of 35%, which is quite brutal for a vehicle with only 8,000 miles on the odometer.
Unfortunately, electric vehicle resale values have been plummeting as of late, and this is true in both the United States and other markets abroad. As noted by WIRED in a previous report, however, this trend could end up being beneficial to car buyers who wish to acquire electric vehicles.
This trend is especially beneficial for electric vehicle buyers in the second hand market because batteries are lasting longer than expected. As per Recurrent, only 2.5% of battery packs across multiple EV brands have been replaced outside manufacturer recalls. This is especially the case for premium electric vehicles such as Teslas and Rivians.
As highlighted by WIRED, despite EVs' rampant depreciation in the pre-owned market, overall electric car sales are still on the rise. With this in mind, the large depreciation in the resale value of premium EVs like the Rivian R1T could very well result in more buyers being able to acquire the vehicle. And that, ultimately, helps the adoption of electric vehicles as a whole.
Check out some of our best-selling items at Rivianist!
Lift your truck safely and Change your Rivian's tires with confidence using our Rivian R1T/R1S Jack Pad Pucks! These jack pad pucks protect your truck's frame when lifted. They're made from tough aluminum to handle heavy loads, and their precise fit prevents damage to your R1T/R1S undercarriage. Their compact size makes them easy to store in your truck bed as well.
Tired of console clutter? Our Rivian R1T & R1S Lower Center Console Storage Tray doubles your space. With two levels, you can keep small items organized and easy to find. It’s also made from durable, high-quality materials that are built to last. Of course, it fits perfectly in your R1S/R1T lower center console for a clean look.
Only the best for your R1T. Our Rivian R1T All-Weather Floor Mats by 3D Maxpider shield your carpets from dirt, mud, and water—because spills and all sorts of unexpected things can happen. They’re custom-fit for perfect coverage and a sleek look, and they’re designed with raised edges to trap messes and make cleaning a snap. They’re extremely durable too.
Love your R1S, ditch the chrome with our Rivian R1S Chrome Delete (Full DIY Kit). This DIY kit lets you personalize your R1S for that cool, clean, modern, and murdered out look. They’re easy to install yourself, so you can probably complete their installation on a Saturday morning. They’re made with high-quality vinyl too, so they should last for years.
Show Off Your Sporty Style with our Rivian R1T Performance Lower Side Stripes. These performance lower side stripes add a touch of sporty flair to your Rivian R1T. They’re made from high-quality vinyl that stays on strong, and they’re very easy to apply for a professional-looking finish. They’re also available in various finishes to match your personal style.