Rivian revealed very constructive electrical car manufacturing and supply numbers for the fourth quarter and full yr 2023.
Through the fourth quarter of 2023, the corporate produced 17,541 battery electrical autos (BEV) at its manufacturing facility in Regular, Illinois, which is 75% greater than a yr in the past and a brand new report (its third in a row).
When it comes to car deliveries, Rivian experiences 13,972 items (up 73% year-over-year). This end result can also be excellent news, though it isn’t a report in comparison with the 15,564 items offered in Q3.
We do not know why the corporate was not in a position to promote extra autos in This autumn than in Q3, regardless of extra autos being produced (and thus out there for supply). Hopefully, it was not associated to a requirement concern, which most likely is a priority for Rivian traders, because the inventory went down by a tenth or so not too long ago, to round $21 per share.
Rivian didn’t disclose the numbers for specific fashions, so these are the full values for its three BEVs: R1T pickup, R1S SUV, and EDV business vans for Amazon.
Rivian This autumn’2023 outcomes (YOY change):
- Whole manufacturing: 17,541 (up 75%)
- Whole deliveries: 13,972 (up 73%)
In 2023, Rivian produced over 57,000 electrical autos and delivered greater than 50,000, which in each circumstances signifies that the outcomes have been greater than two instances greater than a yr in the past.
Rivian Q1-This autumn’2023 outcomes (YOY change):
- Whole manufacturing: 57,232 (up 135%)
- Whole deliveries: 50,122 (up 147%)
The manufacturing result’s greater than 3,000 greater than the most recent steerage of 54,000 items for 2023 (elevated from 52,000 just a few months in the past).
For reference, in 2022, Rivian produced 24,337 electrical autos and delivered 20,332 to clients.
Cumulatively, Rivian produced over 82,500 electrical autos and delivered over 71,300. The distinction between the 2 numbers is roughly 11,200 (together with over 3,500 in This autumn) or lower than one quarter’s value of gross sales. A lot of the manufacturing up to now was for the U.S. market (deliveries in Canada began in November 2022).
In accordance with a earlier report, 35,751 Rivians have been registered in the USA throughout the first 10 months of the yr. Via October, The Rivian R1S was the eighth most registered BEV within the U.S. (19,387), simply behind the Tesla Mannequin X.
Most not too long ago, Rivian launched a brand new 400-mile Max Pack battery choice, which ought to entice clients in search of extra vary than the usual 350 miles within the case of the Giant Pack choice.
And right here is the corporate’s personal look again on the 2023:
