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Rivian reaffirms ~25K production goal for 2022, reports solid demand despite price increase

(Credit: Rivian)

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Rivian generated $95 million in revenue for Q1 2022, reporting a negative gross profit of $502 million. The EV startup also revealed that it produced 2,553 vehicles in the first quarter and delivered 1,227 cars. 

Rivian stated that it would continue to experience negative gross profit related to labor and overhead costs but expects it to improve once it ramps to higher production volumes. 

“Additionally, we recorded a lower cost [sic] or net realizable value (“LCNRV”) adjustment to reflect the amount we anticipate receiving upon vehicle sale (after considering future costs necessary to ready the inventory for sale) and losses on firm purchase commitments. These expenses negatively impacted gross profit in the first quarter of 2022 by $188 million,” noted Rivian in its Q1 2022 Shareholders Letter

Supply Chain Challenges

Rivian also noted that it experienced increased logistics costs caused by supply chain challenges. The company believes supply chain constraints will be a limiting factor to its production. However, it reaffirmed its 2022 annual production target of 25,000 vehicles. Rivian believes that its plant could produce two times the currently expected output for the remainder of 2022, if supply constraints were resolved. 

As of May 9, 2022, Rivian has produced ~5,000 vehicles since the start of production. The planned total annual capacity between the Normal and Georgia facilities is ~600,000. 

Preorders and Prices

Rivian reported more than 90,000 R1 net preorders in the United States and Canada, as of May 9, 2022. The Rivian brand attracted organic growth and awareness without any paid marketing or media. Rivian also noted that it received 10,000 R1 preorders in the US and Canada, despite raising prices. The average price for an R1 vehicle is over $93,000.

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Rivian updated its reservation system due to supply constraints and the rising prices for raw materials and other production costs. The new preorder process will separate reservation and configuration steps. New customers can reserve their vehicle but can only browse through configuration options. Preorder holders can save specific configurations when their build slot’s date is closer. 

“This change ensures that when a build is configured, the customer is choosing from the latest features, packages, and pricing. This new reservation system equips us to better navigate managing a large demand backlog with inflation uncertainties, planned content changes, and enhancements to ensure customers are offered the latest product offerings,” wrote Rivian in its report. 

The Teslarati team would appreciate hearing from you. If you have any tips, reach out to me at maria@teslarati.com or via Twitter @Writer_01001101.

Maria--aka "M"-- is an experienced writer and book editor. She's written about several topics including health, tech, and politics. As a book editor, she's worked with authors who write Sci-Fi, Romance, and Dark Fantasy. M loves hearing from TESLARATI readers. If you have any tips or article ideas, contact her at maria@teslarati.com or via X, @Writer_01001101.

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Tesla Model Y reclaims elusive sales title in competitive market

As more EVs have entered the market and some at better prices, Tesla’s Model Y has been put up against some very attractive options.

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Credit: Tesla

The Tesla Model Y reclaimed an elusive sales title in one of the most competitive markets it is in, outpacing key rivals and formidable competitors to regain the crown it once was a shoe-in for.

As more EVs have entered the market and some at better prices, Tesla’s Model Y has been put up against some very attractive options.

This is especially prudent in Europe and China, where domestic car companies have been offering attractive and cheap EVs as Tesla alternatives.

However, in September, the Model Y was able to battle back and take over the top sales spot for EVs in Europe.

In September, it had 25,938 sales, and although it was an 8.6 percent decrease compared to the same month in 2024, it was enough to be labeled the best-selling car in the European market, Automotive News reported.

500-mile test proves why Tesla Model Y still humiliates rivals in Europe

There are four vehicles that have been atop the European EV sales rankings for any given month this year: the Renault Clio, which has three titles, the Dacia Sandero, which has won four monthly sales titles, and the Volkswagen T-Roc, which was the best-selling car in the market in August.

The Clio captured the number-two spot in September with 20,146 sales.

Despite a strong September showing for the Model Y, which was its first monthly sales crown of the year, the vehicle has not been a top-three EV in Europe this year. That is still led by the Sandero, Clio, and T-Roc.

Despite that, Tesla’s Model Y is still likely to be one of the best-selling vehicles in the world, if not the best, for the year.

In the United States, it has dominated EV sales charts and has been one of the most popular cars in the region. The same goes for China, where the Model Y has more competition than in Europe, but is so attractive because of its premium look and feel, as well as its tech offerings.

The Model Y has been the best-selling car globally for the past two years, outpacing widely popular gas and EV models from around the world.

Tesla also just finished up its best three-month sales period in its history, delivering just shy of half a million vehicles from July to September.

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Tesla dashcam video shows crazy plane crash avoidance maneuver

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Credit: @davidbellow | X

A Tesla captured video of a crashing plane on an Oklahoma highway, as a shocking video shows a small aircraft coming across a local roadway, with various cars ducking to avoid it.

On October 23, an Oklahoma National Guard OA-1K Skyraider II turboprop plane crashed during a training mission after an engine failure. Both crew members escaped unharmed, but they were not the only ones at risk of injury.

A Tesla Dashcam video shared by a friend of the car’s owner shows the vehicle narrowly avoiding an impact with the plane, swerving left, then back onto its side of the road. It appears to be a serious miracle:

David Bellow, the person who posted the video of the Tesla avoiding the plane, claims it was Full Self-Driving that performed the maneuver, but it is not confirmed. This is what he said:

There are a few hints that suggest it could be Tesla’s Full Self-Driving suite, but it is important to note that neither the company, the driver, nor the friend has confirmed this.

The first hint is the vehicle’s maneuver and subsequent reaction. The car suddenly swerves to the left, which any human would do, but how the vehicle continues to travel as if nothing had happened seems to solidify the idea that FSD could have been involved in avoiding the plane.

Nevertheless, this does not confirm that FSD was in control.

My Tesla did this on FSD (Supervised) v14.1 and the internet went crazy

Most people would likely have stopped in their tracks after avoiding an aircraft while driving.

However, this is not enough proof to definitively say FSD was responsible for the avoidance.

Additionally, the “Jump to Event” button is activated in the video, suggesting that FSD was in control. The vehicle gives this option when something major has occurred, including human intervention.

Regardless of whether the car was on FSD or was controlled manually, it is pretty crazy to have this piece of dashcam footage.

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Tesla Full Self-Driving got a minor feature that’s a massive improvement

“Brake Confirm for the Start Self-Driving button is now defaulted off. When disabled, Start Self-Driving will not require you to press and release the brake to confirm engagement.”

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Credit: Tesla

Tesla’s Full Self-Driving suite seems to get better with every single release. However, it is also making it more seamless and easier than ever to use for passenger travel, thanks to a recent feature that has flown under the radar.

Tesla started rolling out its v14 iteration of the Full Self-Driving suite a few weeks ago to Early Access Program (EAP) members, and it finally started making its way to the public for the first time earlier this week.

Tesla Full Self-Driving v14.1 first impressions: Robotaxi-like features arrive

The wide rollout of Tesla v14.1.3 was long-awaited, as its capabilities were flexed by the handful of people lucky to have it. However, those sitting with v13.2.9 were still eager to get to their hands on the new FSD version, especially considering it came with a lot of cool upgrades.

One of which is flying under the radar and not getting as much attention as it should. Although it is a minor feature change from v13, Tesla has made FSD more seamless than ever with a simple fix that it started utilizing with v14.

With v14.1.1, Tesla started rolling out the removal of the “Brake Confirm” feature, which required drivers to touch the brake to activate Full Self-Driving. This is now an optional feature, as it now is defaulted to the off position by the car.

The release notes for the feature state:

“Brake Confirm for the Start Self-Driving button is now defaulted off. When disabled, Start Self-Driving will not require you to press and release the brake to confirm engagement.

You can enable Brake Confirm in Autopilot > Brake Confirm.”

Simply put, you no longer need to touch the brake to confirm your intention to use Full Self-Driving, which is a small but very effective fix.

It makes your car much more active in terms of overall activation, and it is definitely a quicker and more streamlined departure from your current location than ever before.

Here’s a good look at how quick it is:

@teslarati With Tesla Full Self-Driving v14, there is no delay when you start FSD. Press “Start Self-Driving” and you’re on your way #fyp #viral #tesla #teslafsd #fsdv14 ♬ original sound – TESLARATI

The feature is small, but it is very noticeable with your first uses of FSD v14. Eventually, it will become even more streamlined as Tesla solves self-driving and autonomy, as it will require zero human intervention to get started, which means the “Start Self-Driving” button will also be removed.

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