Rivian’s U.S. sales fell 34.9% in October (Ouch!)

[misterturbo]

Been financing energy for over 30 yrs. Amazing how many people think oil production is influenced by who the president is. US government doesn't produce oil (they don't own a rig....not one). Saudi Arabia predicted $55 oil this winter if OPEC members didn't stop exceeding quotas. Primarily Iran (and others) to pay for Gaza war. As prices decline will oil companies reduce their domestic US production? Likely. Highest domestic US production in history was 2023 under a democrat president. Has to do with price not the president. EVs all need to change marketing to quality and ease of ownership, and, oh yea, has other side benefits too.

Concur with everything here.

Add to that, the Saudi's already see the writing on the wall and are actively trying to diversify beyond the oil industry. Perfect example of this is the heavy investment in Lucid to bring production domestically.

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[hammick]

The Prologue is a rebadged Chevrolet Blazer, not a Cadillac Lyriq. Most of the Prologue sales are actually leases, since the rates are so good.

That looks like a hell of a lease deal. Can you share a link? Can't find it anywhere.

 

[Sparkland]

It's in Colorado where the incentives and tax credits are enormous.

 

[rivibaset]

Where is the source? Please give me the link.

 

[Donald Stanfield]

Been financing energy for over 30 yrs. Amazing how many people think oil production is influenced by who the president is. US government doesn't produce oil (they don't own a rig....not one). Saudi Arabia predicted $55 oil this winter if OPEC members didn't stop exceeding quotas. Primarily Iran (and others) to pay for Gaza war. As prices decline will oil companies reduce their domestic US production? Likely. Highest domestic US production in history was 2023 under a democrat president. Has to do with price not the president. EVs all need to change marketing to quality and ease of ownership, and, oh yea, has other side benefits too.

100%.

I'll also add this highlights yet another reason to switch to EVs. Oil prices fluctuate and OPEC is a cartel. EVs remove power from a corrupt institution.

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