Rivian, the electric vehicle manufacturer, recently announced that they will be increasing the prices of their vehicles for Canadian customers by up to $10,000 CAD ($7,000 USD) by February 25. This decision was made in response to changes in the exchange rate between the U.S. dollar and the Canadian dollar.
In an email sent out to customers, Rivian explained that the price increase is necessary due to the fluctuation in currency values. Canadian buyers who are interested in purchasing a Rivian vehicle are encouraged to place their orders before February 25 to lock in the current, lower price.
The news of this price hike comes amidst ongoing trade tensions between the United States and Canada. President Trump recently imposed a 25% tariff on imported steel and aluminum from Canada, which could further impact the cost of manufacturing vehicles in the region.
The base price of a Rivian vehicle in Canada already exceeds $100,000 CAD, making it a luxury purchase for many consumers. With the impending price increase, the cost of owning a Rivian vehicle in Canada will become even higher, potentially surpassing the prices of the same vehicles sold in the United States.
Rivian has not disclosed the specific adjustments that will be made to the pricing of each trim level, but they have confirmed that the changes will take effect on February 25. This means that Canadian customers who are considering purchasing a Rivian vehicle should act quickly to secure the current pricing.
The automotive industry is facing uncertainty and challenges due to economic factors and trade policies. The impact of potential future tariffs on Canadian-made vehicles could further escalate prices for consumers. Despite these challenges, Rivian remains committed to providing innovative electric vehicles to customers in Canada and beyond.
For more information on Rivian’s pricing changes and updates, interested individuals can contact the author at Kevin.Williams@InsideEVs.com. Stay tuned for further developments in the automotive industry as companies navigate the evolving landscape of trade and economics.