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Rivian Automotive Inc (NASDAQ:RIVN) has reported first quarter vehicle deliveries in line with prior guidance. The company produced 14,611 vehicles at its Normal, Illinois facility and delivered 8,740 vehicles during the quarter ending March 31, aligning with guidance of 14,000 and 8,000 respectively.
Rivian delivered just 8,640 vehicles in the first three months of 2024, the company's worst quarterly mark since the end of 2022. But the company says the slow start won't impact its overall guidance for the year — it still expects to deliver between 46,000 and 51,000 EVs by the end of 2025.
Rivian reports first-quarter deliveries of 8,640 vehicles, down 36% year over year but in line with company and Wall Street estimates. Analysts projected about 9,000 vehicles sold.
Rivian reported a fall in first-quarter deliveries on Wednesday, as the electric vehicle maker grapples with part shortages and soft demand.
IRVINE, Calif.--(BUSINESS WIRE)--Rivian Automotive, Inc. (NASDAQ: RIVN) today announced production and delivery totals for the quarter ending March 31, 2025. The company produced 14,611 vehicles at its manufacturing facility in Normal, Illinois and delivered 8,640 vehicles during the same period. As discussed on its last earnings call, production and delivery results for the quarter are in line with Rivian's outlook of approximately 14,000 vehicles produced and approximately 8,000 vehicles deli.
The investment landscape for electric vehicle (EV) companies is in disarray, in part because of the troubles of the current U.S. EV sales leader. Tesla (TSLA 3.62%) CEO Elon Musk's controversial actions and statements over the past several months are affecting sales for the vehicle manufacturer and tech company both in the U.S. and internationally.
Rivian (RIVN 6.87%) stock posted big gains in Tuesday's trading thanks to a pair of bullish catalysts. The electric vehicle (EV) company's shares ended the day up 6.4% amid the backdrop of a 0.3% gain for the S&P 500 and a 0.8% gain for the Nasdaq Composite.
Rivian Automotive RIVN CEO RJ Scaringe didn't hold back at the NVIDIA GTC conference when he shared being upset at how far ahead China is than the U.S. in EV market share.
Electric vehicle maker Rivian is spinning out a startup focused on small EVs designed for short trips, with investment from venture capital firm Eclipse. Rivian CEO RJ Scaringe and Eclipse partner Jiten Behl speak with Caroline Hyde on “Bloomberg Technology.
Jessica Inskip returns to highlight stocks gaining attention in ways investors may have missed. She talks about Rivian's (RIVN) growing social media traction, AT&T's (T) tie to yields and SLB's (SLB) play on dividends and A.I.