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Rivian revealed very constructive electrical automobile manufacturing and supply numbers for the fourth quarter and full 12 months 2023.
Through the fourth quarter of 2023, the corporate produced 17,541 battery electrical automobiles (BEV) at its manufacturing facility in Regular, Illinois, which is 75% greater than a 12 months in the past and a brand new report (its third in a row).
By way of automobile deliveries, Rivian reviews 13,972 models (up 73% year-over-year). This outcome can be excellent news, though it is not a report in comparison with the 15,564 models bought in Q3.
We do not know why the corporate was not in a position to promote extra automobiles in This fall than in Q3, regardless of extra automobiles being produced (and thus accessible for supply). Hopefully, it was not associated to a requirement concern, which in all probability is a priority for Rivian traders, because the inventory went down by a tenth or so lately, to round $21 per share.
Rivian didn’t disclose the numbers for explicit fashions, so these are the full values for its three BEVs: R1T pickup, R1S SUV, and EDV business vans for Amazon.
Rivian This fall’2023 outcomes (YOY change):
- Whole manufacturing: 17,541 (up 75%)
- Whole deliveries: 13,972 (up 73%)
In 2023, Rivian produced over 57,000 electrical automobiles and delivered greater than 50,000, which in each instances implies that the outcomes have been greater than two occasions larger than a 12 months in the past.
Rivian Q1-This fall’2023 outcomes (YOY change):
- Whole manufacturing: 57,232 (up 135%)
- Whole deliveries: 50,122 (up 147%)
The manufacturing result’s greater than 3,000 larger than the most recent steering of 54,000 models for 2023 (elevated from 52,000 a number of months in the past).
For reference, in 2022, Rivian produced 24,337 electrical automobiles and delivered 20,332 to clients.
Cumulatively, Rivian produced over 82,500 electrical automobiles and delivered over 71,300. The distinction between the 2 numbers is roughly 11,200 (together with over 3,500 in This fall) or lower than one quarter’s value of gross sales. Many of the manufacturing thus far was for the U.S. market (deliveries in Canada began in November 2022).
Based on a earlier report, 35,751 Rivians have been registered in the USA in the course of the first 10 months of the 12 months. By way of October, The Rivian R1S was the eighth most registered BEV within the U.S. (19,387), simply behind the Tesla Mannequin X.
Most lately, Rivian launched a brand new 400-mile Max Pack battery choice, which ought to entice clients searching for extra vary than the usual 350 miles within the case of the Massive Pack choice.
And right here is the corporate’s personal look again on the 2023:
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