Rivian beats Q1 2024 estimates by delivering 13,588 and producing 13,980 vehicles

Rivian (NASDAQ:RIVN) has announced the results of its first quarter 2024 vehicle production and deliveries. As per a press release from the electric truck maker, Rivian was able to produce 13,980 and deliver 13,588 vehicles in Q1 2024. All vehicles were produced at the company’s factory in Normal, Illinois. 

Rivian’s Q1 2024 vehicle production and delivery results were in line with the company’s expectations. They also exceeded Wall Street’s estimates. As noted by Wall Street veteran Gary Black of The Future Fund, LLC, the Street expected Rivian to produce 13,800 vehicles and deliver 11,900 units in Q1 2024.


Interestingly enough, Rivian also noted in February that its Q1 deliveries would be down 10-15% quarter-over-quarter. For context, Rivian delivered 13,972 vehicles in the fourth quarter of 2023. Considering its strong Q1 2024 results, it is no surprise that the electric truck maker also maintained its production guidance of 57,000 vehicles for the full year 2024. FactSet consensus for Rivian’s FY 2024 production is currently at 54,000 vehicles, as per a MarketWatch report. 

Rivian has announced that it will be releasing its first quarter 2024 financial results after markets close on May 7, 2024. An audio webcast of its earnings call would also be held at 5 p.m. ET on May 7, where the company’s leadership is expected to discuss Rivian’s performance and outlook. 

While Rivian posted impressive Q1 2024 numbers, the company’s stock still felt pressure on Tuesday’s premarket. As of writing, RIVN stock is down 6.23% to $10.40 per share.

Don’t hesitate to contact us with news tips. Just send a message to simon@teslarati.cDon ‘t give us a heads up.

Rivian beats Q1 2024 estimates by delivering 13,588 and producing 13,980 vehicles
To Top