Rivian reported a decline in EV deliveries but increased production; potential cost increases from tariffs

From Nasdaq: 2025-04-02 11:16:00

Rivian Automotive (NASDAQ: RIVN) reported a 36% decline in EV deliveries for the first quarter, but the 8,640 units shipped were in line with expectations. Despite this, the stock dropped by 5.6%. However, production increased year over year, with over 14,600 vehicles manufactured compared to 13,980 last year.

Investors are eyeing Rivian’s upcoming R2 SUV to boost sales and compete with Tesla’s Model Y. However, the company faces potential cost increases due to tariffs on parts imported from Mexico and Canada. Rivian will provide more insight on these issues during the first-quarter financial results announcement on May 6.

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Read more at Nasdaq: Why Rivian Stock Plunged Today