Rivian Cautions Canadian Consumers: Purchase Now Before $10,000 Price Increase | Carscoops

      The price adjustment is set for February 25, and potential buyers are advised to place their orders before that date.

      7 hours ago

      by Brad Anderson

      Rivian has announced price hikes for the R1T and R1S in Canada, potentially increasing by up to CA$10,000.

      The company cites fluctuations in the CAD/USD exchange rate as the reason for these increases.

      Customers should act by February 25 to secure current prices prior to the adjustment.

      If you’re in Canada and considering a new Rivian R1S or R1T, you may need to act quickly. Starting February 25, the American electric vehicle manufacturer will raise prices on its two models by as much as CA$10,000 (approximately $7,000 at current rates), a significant increase that might further complicate the justification for purchasing an already expensive vehicle.

      Currently, the Rivian R1T begins at CA$101,900 (~$71,300) for the base-level Dual Standard, CA$111,900 (~$78,300) for the R1T Dual, and CA$142,900 (~$100,000) for the R1T Tri. The R1S SUV is somewhat pricier, starting at CA$109,900 (~$77,000) for the Dual Standard, CA$119,900 (~$84,000) for the Dual, and CA$150,900 (~$105,600) for the Tri motor version.

      Read: Trump Now Threatens Canada With Up To 100% Car Tariffs

      A recent communication to Canadian customers indicated that prices will soon increase by as much as CA$10,000 (~$7,000). Rivian did not clarify whether this price hike will apply to all models. The company stated that the reason for the new pricing stems from recent fluctuations in the exchange rate between the US and Canada, with ongoing tariff discussions with the US likely also playing a role.

      Since Trump's victory in the 2024 election and his repeated threats of imposing significant tariffs on Canada, the Canadian dollar's value has declined relative to the US dollar. Although the recently delayed tariffs—set for 25%—were postponed by 30 days after Canada committed to new border protection policies with the US, the Canadian dollar still experienced a decrease in value against its US counterpart.

      In its communication, Rivian urged potential buyers to submit their orders before the price adjustment takes effect. This may be a tactic to encourage hesitant customers to make a purchase, but considering the substantial increase, it’s worth contemplating if you were already undecided.

      Earlier this week, Ford CEO Jim Farley mentioned that the current tariff situation is causing "a lot of cost and a lot of chaos." In the US, about 20% of all new vehicles could face direct tariffs affecting imports from Canada, Mexico, and China.