Rivian Layoff 10% Staff and Lowers Production Forecast for 2024

[R1Tom]

Anyone else considering selling their vehicle? It's starting to give me some anxiety, I don't want to be stuck with an $80k paperweight. Maybe worst case scenario is they get bought out by someone instead of shutting down?

Future is still bright. Not worried. Amazing company. Just going to be a tough few years till R2's start comming off line in Georgia.

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[Kacey3]

Time to buy more stock

I told my wife the same thing.

 

[Redline]

Anyone else considering selling their vehicle? It's starting to give me some anxiety, I don't want to be stuck with an $80k paperweight. Maybe worst case scenario is they get bought out by someone instead of shutting down?

Absolutely not lol.

You're not going to end up with a paperweight

 

[Khaos]

Do we think a price cut is in order to stimulate demand? I've always said R1s would fly off the shelves near pre-price increase prices.

 

[R1Tom]

Do we think a price cut is in order to stimulate demand? I've always said R1s would fly off the shelves near pre-price increase prices.

I wouldn't say it's off table. Could come in undercover ways....high trade in values for existing customers...financing or leasing money, etc...

 

[evguy]

Do we think a price cut is in order to stimulate demand? I've always said R1s would fly off the shelves near pre-price increase prices.

The R1 base price may drop again when the LFP Standard variant is introduced. (So far LFP is only being used for the vans.)

 

[DuoRivians]

57,000 vehicle production guidance for 2024 was the single biggest reason for the stock fall

 

[vista1984]

Do we think a price cut is in order to stimulate demand? I've always said R1s would fly off the shelves near pre-price increase prices.

I am not sure it is a good idea.
lots of tesla owners were pissed about what happened to their tesla last year.
standard battery, dual motor, lease incentive help bring down the price.

 

[LetsgoRIVN]

Very disappointing to see the guidance, I didn’t care much about revenue and earnings but I expected much better from guidance. I truly hope this is a tactic from management to be very conservative and it’s not the most likely output. Expecting negative sales growth for a growing company is a disaster!

 

[LetsgoRIVN]

57,000 vehicle production guidance for 2024 was the single biggest reason for the stock fall

Exactly! Basically 2024 production lower than 2023

 

[vista1984]

57,000 vehicle production guidance for 2024 was the single biggest reason for the stock fall

right, i am not sure if they can be profitable in any qtrs of 2024. Hope they can manage though.
Maybe the shutdown can bring the cost down significantly.
to me personally, 57000 is not a bad number.

 

[R1Tom]

57,000 vehicle production guidance for 2024 was the single biggest reason for the stock fall

And the fact they are going to actually have to work harder(spend more) to sell that many.

 

[Redline]

I know this is really simplifying it, but rates are simply killing them right now. For many reasons, I think the Fed needs to start cutting sooner than later.

 

[DuoRivian]

Rivian will hopefully have a good R2 reveal and can report at the next quarterly call over 100k expressions of interest in the new vehicle. Then in W 3 once the shutdown has been completed they can raise their production targets. I think they are being conservative and allowing for the pre rial for longer down time in Q2 if not everything goes to plan. If/when it does then they will have more confidence to raise production guidance to mid 60s

 

[emoore]

right, i am not sure if they can be profitable in any qtrs of 2024. Hope they can manage though.
Maybe the shutdown can bring the cost down significantly.
to me personally, 57000 is not a bad number.

they aren't going to be profitable until they start selling a lot of R2 vehicles. I would guess sometime in 2026 or even 2027.

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