Rivian Q4 EV Deliveries Miss Mark, Stock Dips Despite Production Surge
TL;DR Summary
Rivian Automotive's stock price dropped nearly 10% after the company reported a decrease in EV deliveries for the fourth quarter, despite an increase in production. Deliveries fell 10.2% from the third quarter, totaling 13,972 vehicles, which aligned with Wall Street expectations. However, Rivian's annual production exceeded its guidance, with 57,232 vehicles produced in 2023. The company's fourth-quarter earnings will be announced on February 21, contrasting with Tesla's strong delivery performance reported on the same day.
Topics:business##business-and-finance#electricvehicles#evproduction#quarterlydeliveries#rivian#stockmarket
- Rivian stock falls on declining fourth-quarter EV deliveries CNBC
- Rivian delivers nearly 14K EVs in Q4 2023 Yahoo Finance
- Rivian Fourth-Quarter Electric Car Deliveries Fall Short of Estimates Bloomberg
- Rivian Stock Falls As EV Deliveries Lag As Tesla Beats Expectations Forbes
- Rivian Crushed Production Estimates. Why Its Stock Is Dropping. Barron's
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