Rivian declining fourth-quarter EV deliveries

In its fourth-quarter report, Rivian Automotive reported higher production but lower deliveries,

which caused its stock to fall 10%. In the third quarter of 2023, the company delivered 13,972-

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vehicles, which was down 10.2% over what it had delivered in the third quarter of 2023. This was consistent with-

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Wall Street's expectations for the quarter. It was estimated that approximately 14,000 vehicles-

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would be delivered during the first quarter as surveyed by FactSet.

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Although Rivian's stock price has increased by 27% over the past year, its stock price closed at-

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$21.10 per share, indicating a 10.1% decline. It is estimated that Rivian produced 17,541 electric vehicles during-

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the fourth quarter, exceeding the 16,304 vehicles it produced during the third quarter.

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There have been over 57,232 vehicles produced by Volkswagen for the whole of the year, exceeding-

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the company's initial forecast of 54,000 vehicles for the whole of 2023.

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In Normal, Illinois, Rivian's factory produces all of the vehicles that are sold around the world.

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In the hours following the close of the stock market on February 21st, Rivian is scheduled to announce the results of its fourth quarter.

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On the same day the report was released, Tesla also announced fourth-quarter deliveries that exceeded Wall-

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Street's expectations, which coincided with the report. By Dec. 28, Tesla had delivered 484,507-

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vehicles, exceeding StreetAccount's consensus estimate of 477,000.

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