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I’d like to see Rivian do nicely, and its gross sales yr over yr have been certainly up 31.8% within the third quarter. Nevertheless, that’s probably not an enormous bounce in comparison with different auto manufacturers*.
The corporate delivered 13,201 autos, and produced 10,720. Whereas that’s apparently what Rivian was focusing on, the dangerous information is that the corporate is now revising its full-year steering downward. “Supply outcomes for the quarter are according to Rivian’s outlook. Right this moment the corporate is narrowing its 2025 supply steering vary to 41,500 to 43,500 autos,” the corporate wrote. That’s down from the 40,000 to 46,000 forecast the corporate offered in July.
The Rivian R2 and Rivian R3 couldn’t come quickly sufficient….
The excellent news is the 13,201 autos delivered beat Wall Road analysts’ estimate of 12,000 deliveries within the third quarter, in response to FactSet. That stated, the market isn’t thrilled with the revised 2025 gross sales forecast. The inventory (NASDAQ: RIVN) is down 13.11% from 5 days in the past.
“Irvine, Calif.-based Rivian will announce third-quarter outcomes on Nov. 4 after the market shut. Analysts anticipate a lack of 73 cents a share, narrowing from 97 cents within the year-ago interval. Gross sales are anticipated to climb 70.8% to $1.492 billion, per FactSet,” Investor’s Enterprise Day by day writes. “Analysts are combined on the corporate’s outlook, with eight making purchase suggestions, 16 with maintain rankings, and three with promote or underweight rankings.”
As we’ve reported this week, Audi EV gross sales grew 232% within the third quarter, Volkswagen EV gross sales grew 231% within the third quarter, Cadillac EV gross sales grew 146%, Chevrolet EV gross sales grew 86%, GMC EV gross sales grew 84%, Honda EV gross sales grew 76%, the Hyundai IONIQ 5 grew 90%, and the Ford Mustang Mach-E grew 51%.
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