Q3 2024 Production / Delivery Numbers… Not good

[DuoRivians]

Produced: 13,157
Delivered: 10,018

Full year guidance reduced to 47,000 to 49,000. (57,000 originally guided)

Full year guidance suggests Rivian expects in Q4:
- 10K-13K production
- 13K-15K delivery

————

Rivian Automotive, Inc. (NASDAQ: RIVN) today announced production and delivery totals for the quarter ending September 30, 2024. The company produced 13,157 vehicles at its manufacturing facility in Normal, Illinois and delivered 10,018 vehicles during the same period.

Rivian is experiencing a production disruption due to a shortage of a shared component on the R1 and RCV platforms. This supply shortage impact began in Q3 of this year, has become more acute in recent weeks and continues. As a result of the supply shortage, Rivian is revising its annual production guidance to be between 47,000 and 49,000 vehicles. The company is also reaffirming its annual delivery outlook of low single digit growth as compared to 2023, which it expects to be in a range of 50,500 to 52,000 vehicles.

Sponsored

 

[DuoRivian]

Thanks for sharing. Makes the leasing and financing offers more surprising. If they have limited supply then they should not need to give many offers if demand was reasonable (not even super strong). Imagine if they had the extra 10k in units available what the sales offers would be like.

 

[R1Tom]

Thanks for sharing. Makes the leasing and financing offers more surprising. If they have limited supply then they should not need to give many offers if demand was reasonable (not even super strong). Imagine if they had the extra 10k in units available what the sales offers would be like.

Must indicate very weak demand....which isn't surprising to me. At the price point these are....there are way too many people having quality and service issues. And prospective buyers can easily find those stories online. Rivian stuck their head in the sand way too long while that demand seemed inelastic and now the ramifications are becoming evident.

They probably could have got away with one or the other....sketchy quality or hard to access service....but not both at same time. My fear to even consider replacing mine with another....is I have a currently perfect G1 QM....and don't want to roll the dice on another knowing I have a perfect one in hand.

 

[Sgt Beavis]

RIVN stock is about to take a nose dive.

Edit: down over 6.5% in pre-trading.

 

[Redline]

The R2 needs to be out like yesterday.

 

[MikeWilliams_R1T]

Let the stock fire sale begin!

There are still two not very far away events that will more than likely bring the stock up... quickly.

Profitability (still near)

R2/3 starts production and delivery

If it drops under $9 today, it might be worth picking up a few hundred shares. It could be worth 3x that by next year.

 

[Zoidz]

The R2 needs to be out like yesterday.

But rushing it will almost certainly lead to an increase in quality problems which is the last thing they need.

 

[Jacopa]

Let the stock fire sale begin!

There are still two not very far away events that will more than likely bring the stock up... quickly.

Profitability (still near)

R2/3 starts production and delivery

If it drops under $9 today, it might be worth picking up a few hundred shares. It could be worth 3x that by next year.

This is the textbook example of trying to catch a falling knife. Emotions should take a back seat, there are way better companies to invest in, just because you love the car does not mean that you should put your hard earned dollars into an investment. Be careful…

 

[Hereforthesnacks]

I’ve been saying demand is soft for 8 weeks, but I get skewered for it. They can only make 50k cars this year and they still have to incentivize folks to move that stock? Craziness.

The R2 isn’t going to fix this. They have bad quality right now. Terrible service in crowded areas where they sell most of their cars. And a feeling base of folks who say to pass on this brand.

The stock accelerator is ousting of bad management.

 

[Biturbowned]

Very disappointing honestly, I expect analyst downgrades today.

 

[Viking80]

There are still two not very far away events that will more than likely bring the stock up... quickly.

Profitability (still near)

R2/3 starts production and delivery

Profitability: if they aren’t selling as many, making a profit gets much harder. They will not be profitable anytime soon.

R2: where are all of the test vehicle sightings? We are approaching one year out from Rivians R2 start of production guidance. Testing should be underway and thus mule vehicles running around in the wild. There have been no sightings that I’m aware of. The R2 is going to be late.

 

[shap]

This is very unfortunate, but as many here, I was saying the same - right now this car is not worth the price.

Quality (including software bugs) is not where it should be, service is very problematic (and I live near SC). And while I like the truck, if people ask me if they should buy Rvian my answer is no. Price/Value is not there. Depreciation killing all EVs, including Rivian.

All these factors together are not good for Rivian. I hope that VW or somebody else will buy them - the main difference from Fisker is that they have a production factory and other assets.

Every time I see pictures of RJ and Wassym smiling - I want to tell them - right now there is nothing to smile about, start working on issues. IMHO.

 

[DuoRivian]

Profitability: if they aren’t selling as many, making a profit gets much harder. They will not be profitable anytime soon.

R2: where are all of the test vehicle sightings? We are approaching one year out from Rivians R2 start of production guidance. Testing should be underway and thus mule vehicles running around in the wild. There have been no sightings that I’m aware of. The R2 is going to be late.

They have time for testing and a lot of the vehicle is using existing technology like the motors and batteries.

 

[shap]

I’ve been saying demand is soft for 8 weeks, but I get skewered for it. They can only make 50k cars this year and they still have to incentivize folks to move that stock? Craziness.

The R2 isn’t going to fix this. They have bad quality right now. Terrible service in crowded areas where they sell most of their cars. And a feeling base of folks who say to pass on this brand.

The stock accelerator is ousting of bad management.

When R2 is out, you will have Model Y refreshed for sale. As well as other good competitors. I do not see R2 as a solution if it comes in 1 year from now.

 

[FutureTruck]

So I glad I dumped a bunch of shares at $15.80 before I was negative on them. I’m getting back in if it goes to 8 though. I don’t think Amazon or VW will let them die.

Really weak demand right now, though. And I know 99% of you here won’t agree, but the introduction of the $79k CT yesterday will push some buyers that were on the fence towards the CT.

Sponsored