Written by Cláudio Afonso | LinkedIn | X
U.S. electric vehicle maker Rivian has introduced an automated online tool for trade-in estimates applicable to electric vehicles (EVs) but also to internal combustion engine (ICE) and Plug-in hybrid electric vehicles (PHEVs).
Owners of Rivian vehicles or other brands, including trucks and vans, can now submit their vehicle for evaluation using either the Vehicle Identification Number (VIN) or the license plate number, as initially shared by the Rivian owner Chris Hilbert on X.
Once submitted, Rivian sends an email within one business day with the estimated value of the vehicle, which is valid for one month. In some cases, Rivian asks potential customers for an “extra review” to show “a more accurate trade-in estimate.”
When contacted by EV, a Rivian spokesperson stated, “As long as the vehicle is in running condition and can operate under its own power, we accept trade-ins for nearly all currently registered passenger cars, trucks, vans, and SUVs.”
Despite acknowledging that “each case may vary,” the company confirmed to EV that the trade-in service is available for electric vehicles (EVs), internal combustion engine (ICE) vehicles, and plug-in hybrid electric vehicles (PHEVs).
In the case of Tesla vehicle owners, Rivian provides guidance on how to upload a screenshot of their vehicle specifications directly on the trade-in webpage.
Last week, Mizuho analyst Vijay Rakesh has raised the firm’s price target on the stock from $11.00 to $15.00 while maintaining a Neutral rating on the stock. The analyst sees the company with “a better balance sheet and reduced liquidity risk”.
In a new research note sent out last Friday, Rakesh’s update follows Rivian’s solid June quarter (JunQ) delivery report, which saw the EV maker deliver approximately 13.8k vehicles. A result that the analyst described as ‘solid.’
Earlier in the week, the company started the rollout of its latest over-the-air (OTA) software update, version 2024.23, for both R1 models (R1S and R1T) from the second generation.
The OTA update marks the debut of the Rivian Autonomy Platform, a suite of advanced driver assistance features. One of them is the “Lane Change on Command” feature, which allows the vehicle to perform lane changes when the turn signal is activated while Highway Assist is engaged.
Written by Cláudio Afonso | LinkedIn | X
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