Rivian Shares Drop Over 7% as R2 Lease Hits $829 a Month

2 articles · Updated · Sherwood News · Jun 9

$829-a-month lease pricing for the R2 performance trim drew immediate backlash on launch day, helping send Rivian shares down more than 7% Tuesday afternoon.
The disappointment undercut enthusiasm for Rivian's long-awaited lower-cost SUV because the R2 was introduced as a roughly $45,000 model but is debuting in higher trims priced closer to $60,000.
That pricing puts the new R2 uncomfortably near Rivian's larger R1S, which starts around $77,000, with some shoppers saying the lease is close to the more expensive vehicle's monthly cost.
The selloff also came amid a broader market decline and erased part of Rivian's recent 10-day winning streak, even as the company has implied 20,000 to 25,000 R2 deliveries this year.