Written by Cláudio Afonso | LinkedIn | X
Shares of the Irvine-based manufacturer Rivian fell more than 9 percent on Friday’s pre-market session after the company announced weaker than expected deliveries and the third quarter and a guidance cut for its annual production.
Rivian said Friday it expects to produce between 47,000 and 49,000 vehicles this year, down from the previous guidance of 57,000 units.
Last year, the company produced 57,232 units indicating that Rivian expects a production decline between 14 and 18 percent.
Rivian delivered over 12,500 vehicles in the previous five quarters, but the third quarter of this year broke that trend with just over 10,000 vehicles delivered.
The company reiterated it is experiencing production disruption due to a shared component on both R1 models and on the RCV platform adding that “it has become more acute in recent weeks and continues.”
“Rivian is experiencing a production disruption due to a shortage of a shared component on the R1 and RCV platforms. This supply shortage impact began in Q3 of this year, has become more acute in recent weeks and continues,” Rivian stated.
The company expects its annual deliveries to be in a range of 50,500 to 52,000 vehicles.
Earlier this week, Rivian emailed new leasing offers for October on its R1S and R1T models.
Leases for the 2025 R1S Tri-Motor SUV start at $1,199 per month for a 36-month term, with deliveries expected within one to six weeks, the company said in an email to customers.
Written by Cláudio Afonso | LinkedIn | X
