The EV manufacturer blamed the hike in MSRP of its R1T pickup and R1S sport-utility on the fluctuating U.S. exchange rate
- Rivian will increase R1T and R1S prices in Canada by up to $10,000, effective February 25
- The company attributes the price adjustment to shifts in the CDN-USD exchange rate
- Customers can lock in current pricing by placing an order before the deadline
Currently, the Rivian R1T pickup starts at $101,900 for the base Dual Standard; $111,900 for the Dual; and $142,900 for the Tri-motor variant. The R1S SUV starts at $109,900 for the Dual Standard; $119,900 for the Dual; and $150,900 for the Tri-motor version. Both Quad versions have yet to be priced; however, if you have to ask how much it costs, you’re perhaps not in the market for a $200k EV.
Once the price increases take effect, buyers could see these above-quoted figures rise to over, say, $160,000 for the current top-trim R1S model.
While the price adjustment was blamed on the fluctuating exchange rate, that metric itself is largely a factor of the ongoing economic uncertainty inspired by the recently re-minted Trump administration. In recent months, the Canadian dollar has taken a beating against the U.S. dollar, partly influenced by concerns over potential U.S. tariffs on Canadian imports.
It’s not yet clear how this price hike will impact Canadian Rivian sales. The U.S.-based EV maker is in an odd position: its underdog status gives it some niche appeal, but Consumer Reports also recently ranked it the “least reliable” automaker. Despite the undesirable accolade, Rivian owners still love and swear by their EVs. (We kind of understand.)
Unfortunately, Rivian’s upcoming price adjustment signals that currency fluctuations and trade uncertainty may continue to impact EV pricing in Canada.
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