Q3 2024 Production / Delivery Numbers… Not good

[Biturbowned]

I’ve had my truck three years…when does this drivers+ get better? I was informed Gen1 drivers+ isn’t supported going forward…on this forum.

maybe my 8th visit to the service center takes the shine off the price? You know…the SC where you have an appointment for Monday….and the truck sits in the parking lot until Thursday. Then you get to Uber or rental car around for 2 weeks. Makes me wonder if that’s worth six figures.

Speaking of awesome OTA updates…remember when they bricked all the vehicles with the botched update? I do.

or the last OTA that f’d my rear sensors. I’m numb to this stuff now…but I’ll never pay 100K for this again.

Your issues are valid. I obviously want to see Rivian improve their service situation because it’s an issue. If you lived through the early days on Tesla, those crowded service center issues are familiar. Tesla’s OTAs haven’t all been amazing either, I remember when they got rid of our HVAC controls because Elon thought that all user entry was error and people should just set it on Auto and have the car take care of it for you. They reversed that decision thank god. Anyways, sorry for your experiences.

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[mkhuffman]

It seems like so many of Rivian's problems could be solved if they started licensing dealership franchises. They could produce to dealer inventory, quickly expand their service capability, and add locations in places they will never be able to do in years if they stick with the direct sales model.

I know many people say they hate dealerships, but they really do serve a viable purpose for manufacturers. And I would argue the dealer service model is superior to what Rivian is offering directly. Significantly superior, in fact.

I bet they could add hundreds of dealers very quickly, and even get some much needed positive cash flow from selling them.

 

[ozziegt]

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

What other vehicle offers anything close to what the R1S offers at a similar price point? I'm genuinely curious because if I sold the R1S I don't know what I would replace it with.

• Fast acceleration and good handilng
• Excellent off road capabilities
• Lots of cargo room and usable 3rd row seating
• Low operating cost

 

[EV4sure]

May be an unpopular opinion but I don’t think it gets talked about enough … I wish they would stop opening Spaces and focus on opening more service centers.

I live in NJ and we have no SC, even though I see tons of R1s in the road. NJ is huge on EV adoption, yet we don’t have a SC which can easily act as a showroom.

As a shareholder and a LE R1S owner, I can’t imagine how much is being spent on rent and salaries for all the fancy Spaces in Brooklyn and Manhattan, where EVs don’t even make as much sense since almost no one has access to convinient home charging.

 

[R1TS]

So you’re comparing version 15+ FSD ($8k) to really early Driver+ with that statement, ok. You also referenced “ride quality” which is just not something the Y does well in at all.

By what metric do you think the Rivian is not a 6 figure car? Find me another vehicle that has this level of onroad and off-road performance at this pricepoint. Then find me one that gets OTAs and is as cheap to run.

First version Tesla Mobileye honestly works better than whatever Rivian has now because that Mobileye at least worked almost anywhere since it wasn’t geofenced to just a few curated and mapped roads.

 

[R1TS]

What other vehicle offers anything close to what the R1S offers at a similar price point? I'm genuinely curious because if I sold the R1S I don't know what I would replace it with.

• Fast acceleration and good handilng
• Excellent off road capabilities
• Lots of cargo room and usable 3rd row seating
• Low operating cost

Doesn’t matter when the demand is not there for all that. And, we are seeing that.

Rivian needs to be more like Tesla, but they’re trying to be more like Porsche with this R1. Maybe when the R2 and R3 are supply-constrained. But, not right now.
Wrong move by RJ.

 

[TomServo2112]

I’ve had my truck three years…when does this drivers+ get better?

I’ve owned two Teslas, but only one with hardware for their current FSD software. What, exactly, is the expectation here? Rivian’s Driver+ is better than my ex-Porsche’s InnoDrive, my wife’s Audi’s whatever-it-is, our old Toyota Sienna lane-keep, so I’m not feeling like i’m wanting for anything. It isn’t the AutoPIlot on my ex-Tesla Model Y, but it seems to me that it’ll get there, and will likely need a mass market vehicle like the Y before the software improves as quickly as some would like.

 

[ShadowFx]

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.

Exactly. I've long said, they must fix the service issue or dead. . .

 

[AllInev]

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.

Ouch!!! Damn!

 

[shap]

What other vehicle offers anything close to what the R1S offers at a similar price point? I'm genuinely curious because if I sold the R1S I don't know what I would replace it with.

• Fast acceleration and good handilng
• Excellent off road capabilities
• Lots of cargo room and usable 3rd row seating
• Low operating cost

Few, including Land Rover and a few others.

But if you remove off-road, BMW X7 or GLS are great options (operation costs for 3-4 years are covered in the price). And they have MUCH better handling than Rivian.

 

[ozziegt]

Few, including Land Rover and a few others.

But if you remove off-road, BMW X7 or GLS are great options (operation costs for 3-4 years are covered in the price). And they have MUCH better handling than Rivian.

I"m thinking ownership window of 5-8 years, not 3-4. So that includes long term reliability and repair costs (which pretty much eliminates Land Rover). Also gas costs are very significant with those vehicles, it greatly increases the cost per mile operational cost. The X7 has a smaller 3rd row as well, and not a lot of cargo room. I don't think I could carry a sheet of plywood from home depot in an X7. The GLS starts at 90k. There really isn't much out there. So I think that shows the value proposition of the R1S is there. As someone else said, market fit may be a different story.

 

[Schroederhc]

How can you compare what Rivian has done in a few short years to anything other than Tesla? Tesla as a whole is on another level but car company-car company it’s ball park. It takes years to get this ironed out and even then it’s not perfect. Very few have done anything like this successfully.

 

[MidnightRun]

I won’t pretend to know all the details about Rivian. I’m not invested like some of the folks here (ownership and/or stock owner).

I was a very interested buyer and I will transition to a lurker looking to learn more from other owners here as I consider a purchase in the next 1-2 years.

That said, here is my experience.

I am really intrigued by the R1S. It did seem over priced relative to all the other factors that entail ownership. As others have noted, service issues and quality issues heavily impacted my confidence in buying an R1S… contributed to my perspective that it’s over priced.

Even so, the incentives near the end of Q3 did still have me considering an R1S. 2.99% is enticing. Employee referral and customer referral were pluses.

I saw no rhyme or reason as to how Rivian decided to spec their Shop vehicles and I wasn’t wiling to place a Custom order, lose the incentives, and feel stuck in 2nd or 3rd priority for delivery based on wait times others have shared here.

I likely would have pulled the trigger had my desired spec showed up in the Shop in the past month or two. I watched inventory religiously and some of the cars they built made little sense to me.

I did have a chance to snag the first White with Ocean Coast Tri in the Shop. I couldn’t pull the trigger. It just seemed to expensive for what I thought it was over a Dual Max. That said, poor marketing didn’t really inform me well on the details that make a Tri better, specifically regarding the interior. I recently saw a video of an owner giving an over view of the Tri and man I was impressed. Had I known it was that big of a jump in quality, I might have considered it harder. Then Again, service and quality are hard to overcome. So is the pounding these cars take on residual values.

I ended up with a Model X Plaid and time will tell if it was the right decision. I’d still consider a Rivian R1S as a second car in a year or two.

Just sharing the experience of a normal customer going through the paces on a buying decision where R1S was a top 2 consideration vs Model X, Model Y, Lexus GX.

 

[lovetowait]

I think the bigger story here is the smaller delivery number. That sure makes it look like a demand issue, not a supply issue.

The production rate still exceeded the deliveries by 3k. So inventory is growing.

Seems like the story about production disruption is probably true, but is masking the bigger problem - if demand isn't there, then there's no way Rivian can ramp into profitability any time soon.

And the pre price-hike demand is now gone (except for remote areas of Canada...). So they have to generate more demand at a higher average price point than ever.

Right now I don't see where this demand growth is going to come from in the next 3 months...

 

[ozziegt]

...

I ended up with a Model X Plaid and time will tell if it was the right decision. I’d still consider a Rivian R1S as a second car in a year or two.

Ironic to mention residual values and then go with an X Plaid. What does the Plaid offer that makes it worth the money over an R1S?

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