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Rivianreported Tuesdayit farm 17,541 vehicle at its Normal , Illinois factory and fork out 13,972 to customers in the fourth poop , mixed result that left investors wary and mail shares down in pre - market trading .
Rivian contribution sank 9.75 % to $ 21.17 at 1:40 pm ET .
Rivian had shown uniform development inproduction and deliveriesin the first three quarters of the year . And while production numbers stay on that upward trajectory in the fourth twenty-five percent , legal transfer dipped by 10.2%from the previous quarter . That driblet could signal soften demand for the fellowship ’s ticket of premium electron volt . Rivian produces four vehicles : its two consumer vehicles , the R1 T truck and R1S SUV , and two versions of its commercial-grade van .
Slowing requirement for high up - price EVs has plagued automakers , ram many to scale back product or thin prices . Rivian has grapple to avoid slash prices . If deliverance carry on to light into 2024 , the car manufacturer may have to take that strategy in an attempt to boost its numbers . That would spell trouble for Rivian , which is not yet profitable .
The monetary value of build one Rivian vehicle continues to be a roadblock to the company ’s path toward profitability . Rivian ’s consumer R1 T and R1S fomite trade for more than $ 80,000 , on average . But the cost of build far exceeds any receipts it play . In the 2nd quarter , for illustration , the troupe lose $ 32,495 on every vehicle it build up .
Rivian say during its third - quarter earnings that it constrict that per unit exit by $ 2,000 compared to the second quarter by simplify its product portfolio and reduce material and labor costs . bring down the spikelet price would only put more pressure on margins .
On a full - year basis , Rivian produced 57,232 vehicles and delivered 50,122 . This exceeded the automaker ’s most recent full - twelvemonth 2023 productionguidance of 54,000 vehicles .
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The company also announce that it will describe fourth - poop earning after markets close February 21 .
