Rivian Q4 deliveries up 1.5%

EV manufacturer Rivian ’s deliveries ramped up in the fourth quarter, contributing to a jump in revenue. The Irvine, Calif.-based company delivered 14,183 units in Q4, up 1.5% YoY and 41.6% quarter over quarter as full-year deliveries hit 51,579 units, up 2.9% year over year, according to a Feb. 20 letter to shareholders. Production levels tumbled 27.4% YoY and 3.3% QoQ to 12,727 units in Q4, according to the letter. Rivian produced 49,476 units in 2024, down 13.6% YoY. Fourth-quarter production was affected by supply chain issues regarding “a shortage of a shared component within [Rivian’s] Enduro motor system,” Chief Financial Officer Claire McDonough , said on the Feb. 20 earnings call. Q4, full-year revenue climb Rivian’s total automotive revenue jumped 15.6% YoY and 81% QoQ to $1.5 billion in Q4 , according to the shareholder letter. Full-year revenue hit $4.5 billion, up 1.2% YoY. The increase in total revenue was largely driven by a YoY and QoQ increase in fourth-quarter deliveries, McDonough said. Rivian reported total liquidity of $9.1 billion at the close of 2024, including capacity on its asset-based revolving credit facility and $7.7 billion in cash, cash equivalents and short-term investments, according to the letter. L.A. fires likely to hamper Q1 deliveries Deliveries are expected to slow slightly in the first quarter as Los Angeles, one of Rivian’s largest markets, recovers from wildfires that damaged wide swaths of the area in January, McDonough said. Rivian projects deliveries will land around 8,000 units in Q1, down 43.6% compared with Q4 volumes, she said. “These lower anticipated volumes are due to seasonality coupled with a challenging demand environment, partially driven by the impact of the fires,” she said. McDonough said that deliveries are likely to land between 46,000 units and 51,000 units in 2025. Q1 production estimates Despite the expected slowdown in demand, Rivian plans to produce about 14,000 vehicles in Q1 in a bid to build inventory ahead of the planned closure of its Normal, Ill., plant for one month in the latter half of this year, McDonough said. Rivian is closing the plant in preparation for the launch of its R2 model in early 2026. Chief Executive RJ Scaringe said that Rivian hopes to use the R2 models, which start at $45,000, to reach consumers looking for more affordable products from the manufacturer. By comparison, Rivian’s R1S Dual Standard model starts at $75,900, the R1S Dual starts at $83,900 and the R1S Tri starts at $105,900, according to Rivian. “It's important to provide to the market and to consumers a choice that's highly compelling at a price point that addresses a large percentage of buyers here in the United States and in Europe as well,” he said. “R2 is going to open up the market and bring in consumers today that may love the brand and our products but just can't make the step with vehicles with [average selling prices] that are over $90,000.” Regarding incentives, Scaringe noted that Rivian is prioritizing pricing strategies structured for markets “in a world with the $7,500 [EV] credit and a world without the $7,500 [EV] credit.” President Donald Trump has suggested eliminating the tax credit. Chase Auto powers Rivian Financial Services through a digitally focused private label deal that launched in 2021. Shares of Rivian Automotive [Nasdaq: RIVN] were trading down 4.17% from market open to $13.04 as of 3:40 p.m. ET. The company has a market capitalization of $13.3 billion. Auto Finance Summit East 2025 is set for May 12-14 at the JW Marriott Nashville featuring fireside chats with Santander Consumer USA and Chase Auto. Visit autofinance.live for more information. Early-bird registration is available here .

Rivian Q4 deliveries up 1.5%

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