Transportation
Rivian Slides as Year-End EV Deliveries Fall Short of Estimates
- Production gains overshadowed by lower sequential deliveries
- Results suggest overproduction amid weak demand, analysts say
Rivian pickup trucks at the company's manufacturing facility in Normal, Illinois.
Photographer: Jamie Kelter Davis/BloombergThis article is for subscribers only.
Rivian Automotive Inc. fell the most in almost three months as the maker of electric trucks and SUVs reported quarterly deliveries that missed expectations.
The company built 17,541 EVs in the final three months of 2023 and delivered 13,972, according to a statement Tuesday. The fourth-quarter delivery total marked a sequential decline from the prior period and fell short of analysts’ average estimate of 14,114.