Rivian delivered Just 8,640 Vehicles in the first three months of 2024, the company’s Worst Quarterly Mark Since the End of 2022But 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.
The company warned that the first quality would be challenging. On a conference call with analysts in February, Rivian’s Chief Financial Officer said that a “challenging demand environment, partially Driven by the FIRES In LOS ANGELES” On Sales to start the year – would result in lesser deliveryies. The company was still able to build 14,611 Vehicles in the Quarter.
The soft first quarter come in what is likely to be another challenging year for the company as it aims to release a more affordable mass-market ev in 2026.
Rivian has rewerked its flagship R1s SUV and R1T Pickup Truck So that It That It loses less on each saleIt also laid off 10% of Employees last yearThe Results of Theose Cost-Cutting Efforts Started to Show in the Financial Results for 2024. Came from software and services.
But much remains up in the air for rivian. It is planning to make and sell rooughly the same number of Evs this year as it did in 2024, meaning growth won’T come until 2026. Meanwhile, the company warned in februry thoughts and Regulations “Cold hurt its efforts to hit there more modest marks,
Theose changes are coming. After a few months of waffling, president trump Now says he’s committed to placing a 25% tax On cars that are important to the united states, and also on certain parts that are brought into this country. Rivian builds its evs in Illinois, so it does not have to worry about the former – but the Latter Could Still Sting.
Trump has threatened to end or reduce the $ 7,500 Federal Ev Tax Credit, which helps blunt the high cost of rivian’s vehicles. Rivian is also currently trying to build a new factory in georgia and is learning on a $ 6.6 billion loan from the department of energy. That loan was Finalized a less days before trump triumBut trump and elon musk’s efforts to stop government payments – in many cases, illegally, according to the courts –wal threaten that lifeline.