Rivian Stock: A Closer Look at Its Fourth Quarter EV Deliveries

Rivian is a renowned American electric vehicle manufacturing and automotive technology company that has recently undergone an exceptional growth phase. It has been linked with big names such as Amazon and Ford, who together have invested billions of dollars in the company. This investment led to high speculation about Rivian’s growth and stock future, which is why 2023 was a significant year for the company.

The anticipation surrounding Rivian’s fourth quarter 2023 results was intense, with investors eagerly waiting to see if the company could uphold its expected deliveries. Rivian was expecting to deliver 14,000 vehicles during the quarter, but the actual deliveries were 13,972, down 10.2% from the third quarter of the same year. Despite the decline, Wall Street’s expectations were met, leading to the stabilization of Rivian’s stock.

However, while Rivian’s deliveries might be within expectations, the company’s production rate during the fourth quarter increased from 16,304 vehicles to 17,541 vehicles, implying a growth rate of 7.9% percent.

Although the deliveries didn’t meet expectations, Rivian’s increased production rates signified that the company has the potential to improve in the coming years.

For the entire year of 2023, Rivian produced a total of 57,232 electric vehicles, slightly surpassing the company’s yearly production target of 54,000 vehicles. These figures indicate that Rivian is an exceptional automaker with impressive growth projections. Even though the fourth-quarter delivery numbers were lower than expected, the company’s increased overall production rates indicate a bright future ahead.

Additionally, Rivian’s EVs command high price tags, with the R1T pickup starting at $67,500 and the R1S SUV starting at $70,000. Hence, Rivian’s revenue per unit is higher than most electric vehicle manufacturers, implying a better profit margin and an opportunity to reinvest and grow its business.

Despite a decline in Rivian’s EV deliveries during the fourth quarter of 2023, the company’s overall production rate increased, showing impressive growth and potential.

Meanwhile, EV rival Tesla Q4 deliveries exceeded expectations. 
Rivian will release its Q4 finances on February 21st after the market close.