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jbssfelix

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https://seekingalpha.com/news/4086213-rivian-tops-estimates-with-q1-deliveries-of-13588


Rivian Automotive (NASDAQ:RIVN) announced on Tuesday that it produced 13,980 vehicles at its manufacturing facility in Normal, Illinois during Q1 and delivered 13,588 vehicles during the same period. The deliveries tally beat the consensus expectation of analysts for 11,893 deliveries.

The electric vehicle maker noted that production and delivery results during the first quarter of 2024 were in line with the company's own expectations. For the full year 2024, RIVN management is reaffirming guidance for annual production of 57,000 total vehicles.

Looking ahead, Rivian Automotive (RIVN) will release Q1 earnings on May 7 after the market closes.
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AllInev

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Good news, but not impressing investors, given today's stock price drop. Doesn't help Tesla missed deliveries consensus by so much --rising tide raises all ships lowering tide lowers all ships.
 

SANZC02

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Entire market is pretty red today.

I’m just sitting on my Rivian shares, over Time I picked up a few here and there to average down.

Next critical thing for Rivian will be the results for cost savings with this shutdown that should be seen in Q4, 2024.

Hitting the R2 deliveries early 2026 and subsequent ramp up.

I’m not expecting any good traction until 2027, they still have a lot of hurdles to clear between now and then but if they get there….🤞🏻
 

jfoonly

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I wonder how many were just in March.

So does that mean there are 392 vehicles remaining in the shop before the shutdown?
 

Autolycus

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I wonder how many were just in March.

So does that mean there are 392 vehicles remaining in the shop before the shutdown?
Not exactly. There weren't exactly 0 in the shop as of 12/31/2023. Not every vehicle produced goes into the shop -- many are sent to a specific customer. Etc. Etc.
 

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ryunited

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It's so weird because it FEELS like I suddenly see them so much more in my area but maybe that's just the SC effect.

Either way, there is no better ad for one of these things than seeing one on the road. It's how I fell for it.
 

Rob O

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The following was in my news feed this morning. Thought it was kinda funny, but also a pretty good analogue for why we’re so divided in this country anymore: Same data, completely opposite headlines.
Rivian R1T R1S Rivian tops estimates with Q1 deliveries of 13,588 [⚠️ ADMIN WARNING: NO POLITICS] IMG_5395
 

Riviot

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FWIW, Tesla missed by a large margin. Overall market has mixed signals, but seems premium is less impacted than affordable at the moment.
 

the_akrish

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I think the big win here would be to announce a surprise production start for R2 during this year. Maybe even when they re-open the plant...
 

jjswan33

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Rivian Head

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Tesla had a train wreck delivery number, and I was surprised that the stock didn’t get destroyed as much as expected. I guess investors are counting on the fact that it has other revenue streams such as supercharging network, FSD, energy, etc, and still has the highest profit margin per vehicle sold in the industry. They are waiting on earnings call on April 20. Hopefully we would get some visibility on FSD adoption rate, CT order conversion rate, refreshed model 3 order numbers.

My biggest concern for Rivian is that Chinese EVs with heavy government subsidies will be hard to beat without a trade barrier. Even with a trade barrier, Can Rivian make profit with R2 ‘s battery size and upscale features at 45K? If you look at model 3 and Y, these are spartan, minimalist and streamlined for efficient production .
I am not sure about R2 becoming what model 3 was to Tesla .
 

KootenayEV

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I found it interesting that Tesla delivered only 17k "Other" vehicles (aka not the Model 3 or Y, so the S, X and CT). Two thoughts:
1. Rivian is doing pretty good to sell as many as they do given the much smaller brand footprint
2. The addressable market at R1/S/X/CT prices just isn't that large in the current macro environment

Hopefully the VIN thread combined with lower COGS after the shut-down means Rivian will be able to offer a lower-priced vehicle that fully fits within the tax credit regime but still have positive margin and allows them to get more buyers at a lower price-point.
 

TollKeeper

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jjswan33

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KootenayEV

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Carrying on with the Q1 EV production news, a few other observations:
  • EV9 and EV6 each sold around 4k; so the R1S outsold the EV9, even at a higher price point
  • EV9 is getting huge discounts from Kia until Apr 30, so maybe that changes in Q2
  • Ford sold ~20k, 7k of those F150s. More than the R1T, but not more than the R1 platform.
  • GM (all brands) sold ~16k, about 5k of those LYRIQs (cheaper than R1S, at least in Canada); so R1S likely outsold it too
  • So aside from Tesla with 17k, no one else is selling nearly as many as Rivian at the high price point
To me the above bodes well for continued success, and once the R2 is released... game on!
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