Electric vehicle maker Rivian‘s R1 models are currently being sold in the second-hand market for less than $60,000, signaling a depreciation of over 30% in three years.
As reported by The Tennessean, several 2022–2025 vehicles are listed on used-car platforms at $15,000 to $25,000 below their original sticker prices.
Most units offered have logged fewer than 50,000 miles.
On CarMax, a 2024 Rivian R1T Adventure Dual-Motor Standard with 16,000 miles, is priced at $59,998, $10,000 below its original price of $71,700.
The same platform lists a 2024 Rivian R1S Adventure Quad-Motor Large for $72,998. The vehicle drove 9,000 miles on the road, according to the listing. The Quad Motor version was priced at $89,800 when it launched — nearly $20,000 more.
When looking at the 2022 Rivian R1T Adventure, which had a MSRP starting at $74,500, CarMax recently listed two units for $51,998 — about $22,500 below, and a 30.2% depreciation.
According to vehicle valuation and automotive research company Kelley Blue Book, the 2022 R1T Adventure has a fair purchase price of $43,535 as of Friday.
Second-hand units of the model are usually priced at about $44,285, the platform shows.
Kelley Blue Book rates the 2022 R1S with a depreciation of 29% — or $22,814 — over the past three years. The vehicle’s resale value is at $54,186, while the trade-in value is $51,196.
If considering the 2023 model, however, the depreciation rises to $31,314 — or 35% — in the previous two years.
The platform estimates that the 2024 Rivian R1S will have a 5 year depreciation of $50,245, with the 2025 model expected to depreciate $46,620.
Tesla‘s 2022 Model Y has depreciated over 60% in the past three years, with a resale value of $23,861 as of Friday.
The 2024 Model Y, with a MSRP price starting at $44,630, lost nearly 50% of its value to $24,000 in the first year, with the company launching a refreshed version of the SUV earlier this year.
Rivian said Thursday it delivered 13,201 vehicles in the third quarter, outpacing production of 10,720 units.
While the tally exceeded Wall Street estimates, shares slumped after the EV maker lowered its 2025 sales outlook for the second time in five months.
