Rivian Automotive, Inc. Class A Common Stock (RIVN)
Why Rivian Stock Plunged Today
Electric vehicle (EV) maker Rivian Automotive (RIVN -4.97%) released first-quarter deliveries today, and the stock tanked. If you liked Rivian stock before today, though, you should like it even more now.
Rivian posts sharp fall in quarterly deliveries as soft demand weighs
(Reuters) - Rivian reported a 36% decline in first-quarter deliveries on Wednesday, as the electric-vehicle maker grapples with weak demand, sending its shares down nearly 6%. EV makers have been battling tough demand as consumers opt for cheaper hybrid and gas-powered vehicles in an uncertain economic and political environment. aAdsList.push('Article'); aAdsListSize.push([300, 250]); aAdsListCA.push(null); "I would say the sector at the moment is out of favor. Over the medium to long term, EVs are still inevitable, and so it's just going to take some time for these companies to continue to ramp up," said Andres Sheppard, senior equity analyst at Cantor Fitzgerald. Rivian Chief Financial Officer Claire McDonough had said in February vehicle deliveries would be lower this year due to soft demand, partially because of the impact of fires in Los Angeles. Demand could be further pressured as U.S. President Donald Trump's tariff policies are expected to accelerate inflation and increase prices of automobiles, making consumers wary of committing to big purchases. Sheppard said Rivian's margins would be affected by tariffs, and it could face a larger hit from the duties as opposed to bigger players such as Tesla. Rivian CEO RJ Scaringe had said earlier this year the company expects higher costs from tariffs on Mexico and Canada as it has a supply chain footprint in these countries. The company delivered 8,640 vehicles in the quarter ended March 31, down from 13,588 a year earlier. But the deliveries exceeded analysts' estimate of 8,200, according to Visible Alpha. Tesla reported a 13% slump in quarterly sales, its weakest performance in nearly three years, as backlash to CEO Elon Musk's embrace of far-right politics grows and consumers seek out newer models from rival EV makers. Rivian produced 14,611 vehicles in the first quarter, compared with 13,980 a year ago. It reaffirmed its annual deliveries forecast. (Reporting by Zaheer Kachwala in Bengaluru; Editing by Shilpi Majumdar) By Zaheer Kachwala
2 EV Stocks Dinged by Dismal Delivery Numbers
Electric vehicle companies, just like any other automaker, live and die on vehicle delivery numbers.
Rivian Automotive reports Q1 vehicle deliveries in line with guidance
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 starts a challenging year with a big slip in deliveries
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 Stock Falls as First-Quarter Deliveries Plummet
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 reports fall in first-quarter deliveries
Rivian reported a fall in first-quarter deliveries on Wednesday, as the electric vehicle maker grapples with part shortages and soft demand.
Why Rivian Stock Surged Today
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.
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