Written by Cláudio Afonso | LinkedIn | X
Rivian’s U.S. sales fell 34.9% in October, with the electric vehicle maker delivering an estimated 3,380 units, down from 5,195 in September and 5,133 in August — according to data from Motor Intelligence released Monday.
The company recently adjusted its annual production guidance to between 47,000 and 49,000 vehicles, a decrease from its prior target of 57,000 units, citing supply chain challenges impacting production of both its R1 models and RCV platform.
Rivian said last week that U.S. and Canadian customers purchasing a new 2025 R1S or R1T could receive a discount of $3,000 in the United States or CAD$4,100 in Canada.
The offer, available through the end of November, applies to the Dual Large, Dual Max, and Tri Max configurations of both models.
Earlier this Monday, Mizuho analyst Vijay Rakesh released a new research note lowering the price target on Rivian shares by $3 to $12.00 while maintaining a Neutral rating.
The analyst said the company “has a good product roadmap with its lower-cost R2” adding that the deal with Volkswagen “provides an improved balance sheet with less liquidity risk, though we see US EVs softer with potential demand challenges.”
In the third quarter, Rivian produced 13,157 vehicles and delivered 10,018 units, representing a 36% drop compared to Q3 2023 and a 27% decline from the previous quarter. The last time Rivian’s quarterly deliveries fell below 12,500 was in early 2023.
At the time of writing, Rivian’s shares were up 3% at $10.49.
Rivian’s revised production guidance targets annual deliveries between 50,500 and 52,000 units.
Written by Cláudio Afonso | LinkedIn | X
