Rivian Automotive, Inc. (RIVN) shares plummeted 10.10% in Friday's pre-market trading session following the release of its first-quarter 2025 delivery results. The electric vehicle maker reported a significant drop in deliveries despite an increase in production, raising concerns about demand for its premium models.
According to the company's report, Rivian manufactured 14,611 vehicles in Q1 2025 at its Normal, IL plant, up from 13,980 units produced in the corresponding quarter of 2024. However, deliveries fell sharply to 8,640 vehicles from 13,588 in the same period last year. This disconnect between production and deliveries suggests potential issues with demand or logistics.
Despite the disappointing quarterly results, Rivian has reaffirmed its 2025 delivery target of 46,000 to 51,000 vehicles. However, this projection indicates flat or declining deliveries for a second consecutive year, as demand for its premium R1 models appears to be stagnant. Investors seem to be reacting negatively to these signs of slowing growth, particularly in a highly competitive EV market.
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