Reported 1 day ago
Rivian Automotive's first quarter deliveries of 8,640 vehicles fell significantly from last year's 13,588, although they exceeded analysts' expectations of 8,200. Factors contributing to this shortfall include increased consumer preference for cheaper vehicles and adverse effects from California fires. Despite a challenging outlook for 2025, management remains optimistic with a delivery target of 46,000 to 51,000, and hopes are pinned on the upcoming R2 model to boost sales. Investors are advised to temper growth expectations while acknowledging Rivian's positive advancements.
Source: YAHOO