2 days ago
How Rivians became the ‘it' car in the Hamptons: ‘Everyone is dumping their Cybertruck'
Over the past year, a striking shift has occurred in the Hamptons, Palo Alto and other high-end enclaves: Teslas — and being in any away associated with Elon Musk — are out. Rivians and Lucids are in for those looking to signal their environmentally conscious bonafides.
'Everyone is dumping their Cybertruck — they are desperate to find someone to take them away,' Matthew Ammirati, founder of the Bridgehampton Motoring Company which works with high-end car collectors, told me.
3 Rivians have become the favorite of the elite eager to show they support electric vehicles but not Musk.
Rivian
Rivian's electric trucks are gaining traction among wealthy buyers simply because they have no association with Elon Musk (and by extension Donald Trump). This despite their premium sticker prices: R1T pickup trucks start at $70,000, while R1S SUVs start at $75,000 — roughly three times more than a base-model Tesla.
According to Rivian, the company has 114,000 people on waitlist for their SUVs and trucks, with some customers being told they won't get their cars until 2026 — an indication that the cars are about status, not urgently needing a ride.
'On the high end, Rivians have become front and center,' Dan Ives, the Managing Director and Senior Equity Research Analyst covering the Technology sector at Wedbush Securities, told me. 'You're seeing a lot more Rivians in East Hampton.'
Rivian has even invested in a new charging station-store combination in the Hamptons, only the second of its kind globally. (The other is in Yosemite, California.)
Just a year ago, Rivian faced severe financial struggles, with a declining stock price, deliveries dropping, and Elon Musk posting on X the company would end up bankrupt.
Miraculously, the company turned around, thanks in part to a $5 billion Volkswagen partnership.
3 Rivian has invested not just in chargers in the Hamptons — but also an outpost with merchandise.
Rivian Adventure Network Tracker / X
The embrace of Rivian and Lucid vehicles, however, is really only possible for a handful of wealthy buyers given their penchant for breaking down so frequently.
'Rivians and Lucid are a nightmare from charging, insurance, accident — it would win most likely to get a car stuck on the beach,' Ammirati said.
3 Cybertrucks have gone from coveted — with thousands of people on the waitlist — to something very easily purchased on the secondary market as people ditch their Tesla products.
Getty Images
Travis Ketchum, who runs a software firm and reviews cars on the side out of Seattle, Wash., switched from a Tesla to a Rivian last year because of the politics rather than the quality of the car.
While he doesn't regret it, he acknowledged that it has come with a number of setbacks.
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'It's often months before your car can be seen [for repair at a dealership] and it'll be there days before people start working on it,' he said. He and his family have multiple back-up vehicles for when their Rivian breaks down
While Rivian and Lucid appears to have overtaken Tesla in some exclusive enclaves, analysts suggest that Elon Musk is unperturbed by the loss of high-end buyers.
It's 'not a bad thing for Tesla,' Ives noted. 'But now the Tesla customer is the masses — they are focused on a more reasonable price point and autonomous cars.'
While Elon Musk's recent fissure with Donald Trump seems to benefit his share price, any sort of detente or reconciliation could actually be helpful long-term as Musk tries to get approval for his Robo-taxis and seeks possible government contracts for the vehicles.
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