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Rivian Q4 EV Deliveries Miss Mark, Stock Dips Despite Production Surge

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Source: CNBC
Rivian Q4 EV Deliveries Miss Mark, Stock Dips Despite Production Surge
Photo: CNBC
TL;DR

Rivian Automotive's stock price dropped nearly 10% after the company reported a decrease in EV deliveries for the fourth quarter, despite an increase in production. Deliveries fell 10.2% from the third quarter, totaling 13,972 vehicles, which aligned with Wall Street expectations. However, Rivian's annual production exceeded its guidance, with 57,232 vehicles produced in 2023. The company's fourth-quarter earnings will be announced on February 21, contrasting with Tesla's strong delivery performance reported on the same day.

Topics:businessbusiness-and-finance##business-and-finance#electricvehicles#evproduction#quarterlydeliveries#rivian#stockmarket
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  1. Rivian stock falls on declining fourth-quarter EV deliveries  CNBC
  2. Rivian delivers nearly 14K EVs in Q4 2023  Yahoo Finance
  3. Rivian Fourth-Quarter Electric Car Deliveries Fall Short of Estimates  Bloomberg
  4. Rivian Stock Falls As EV Deliveries Lag As Tesla Beats Expectations  Forbes
  5. Rivian Crushed Production Estimates. Why Its Stock Is Dropping.  Barron's

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