Rivian Releases Q3 Production and Delivery Figures, Updates 2024 Annual Production Outlook and Sets Date for Third Quarter 2024 Results
Rivian Automotive (NASDAQ: RIVN) has released its Q3 2024 production and delivery figures, along with an updated 2024 annual production outlook. The company produced 13,157 vehicles and delivered 10,018 vehicles in Q3. However, Rivian is facing a production disruption due to a shortage of a shared component on the R1 and RCV platforms, which began in Q3 and has intensified recently.
As a result, Rivian has revised its annual production guidance to between 47,000 and 49,000 vehicles. The company is reaffirming its annual delivery outlook of low single-digit growth compared to 2023, expecting deliveries in the range of 50,500 to 52,000 vehicles. Rivian will release its Q3 2024 financial results on November 7, 2024, after market close, followed by an audio webcast at 5:00 p.m. ET to discuss performance and business outlook.
Rivian Automotive (NASDAQ: RIVN) ha pubblicato i suoi dati di produzione e consegna per il terzo trimestre del 2024, insieme a una previsione di produzione annuale aggiornata per il 2024. L'azienda ha prodotto 13.157 veicoli e ha consegnato 10.018 veicoli nel terzo trimestre. Tuttavia, Rivian sta affrontando una discontinuit脿 nella produzione a causa della carenza di un componente condiviso sulle piattaforme R1 e RCV, che 猫 iniziata nel terzo trimestre e si 猫 intensificata di recente.
Di conseguenza, Rivian ha revisionato le sue previsioni di produzione annuale a un intervallo tra 47.000 e 49.000 veicoli. L'azienda ribadisce la sua previsione di consegna annuale con una crescita a bassa cifra singola rispetto al 2023, aspettandosi consegne nell'intervallo di 50.500 a 52.000 veicoli. Rivian pubblicher脿 i risultati finanziari del terzo trimestre del 2024 il 7 novembre 2024, dopo la chiusura del mercato, seguiti da un webcast audio alle 17:00 ET per discutere delle prestazioni e delle prospettive aziendali.
Rivian Automotive (NASDAQ: RIVN) ha publicado sus cifras de producci贸n y entrega del tercer trimestre de 2024, junto con una actualizaci贸n de las expectativas de producci贸n anual para 2024. La compa帽铆a produjo 13,157 veh铆culos y entreg贸 10,018 veh铆culos en el tercer trimestre. Sin embargo, Rivian enfrenta una disrupci贸n en la producci贸n debido a la escasez de un componente compartido en las plataformas R1 y RCV, que comenz贸 en el tercer trimestre y se ha intensificado recientemente.
Como resultado, Rivian ha revisado su gu铆a de producci贸n anual a un rango de entre 47,000 y 49,000 veh铆culos. La compa帽铆a afirma nuevamente su pron贸stico de entregas anuales con un crecimiento bajo de un solo d铆gito en comparaci贸n con 2023, esperando entregas en el rango de 50,500 a 52,000 veh铆culos. Rivian publicar谩 sus resultados financieros del tercer trimestre de 2024 el 7 de noviembre de 2024, despu茅s del cierre del mercado, seguido de un webcast de audio a las 5:00 p.m. ET para discutir el rendimiento y las perspectivas del negocio.
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Rivian Automotive (NASDAQ: RIVN) a publi茅 ses chiffres de production et de livraison pour le T3 2024, ainsi qu'une mise 脿 jour de ses pr茅visions de production annuelle pour 2024. L'entreprise a produit 13 157 v茅hicules et a livr茅 10 018 v茅hicules au T3. Cependant, Rivian fait face 脿 une perturbation de production due 脿 une p茅nurie d'un composant commun sur les plateformes R1 et RCV, qui a commenc茅 au T3 et s'est intensifi茅e r茅cemment.
En cons茅quence, Rivian a r茅vis茅 ses pr茅visions de production annuelle 脿 une fourchette de 47 000 脿 49 000 v茅hicules. L'entreprise r茅affirme ses pr茅visions de livraison annuelle avec une croissance 脿 faible chiffre unique par rapport 脿 2023, s'attendant 脿 des livraisons dans la fourchette de 50 500 脿 52 000 v茅hicules. Rivian publiera ses r茅sultats financiers du T3 2024 le 7 novembre 2024, apr猫s la fermeture du march茅, suivi d'un webcast audio 脿 17h00 ET pour discuter des performances et des perspectives commerciales.
Rivian Automotive (NASDAQ: RIVN) hat die Produktions- und Lieferzahlen f眉r das 3. Quartal 2024 ver枚ffentlicht und gleichzeitig die aktualisierte Prognose f眉r die j盲hrliche Produktion 2024 bekannt gegeben. Das Unternehmen produzierte 13.157 Fahrzeuge und lieferte 10.018 Fahrzeuge im 3. Quartal. Allerdings sieht sich Rivian einer Produktionsst枚rung aufgrund eines Engpasses bei einem gemeinsamen Bauteil auf den Plattformen R1 und RCV gegen眉ber, die im 3. Quartal begann und sich zuletzt intensiviert hat.
Daher hat Rivian die j盲hrlichen Produktionsziele auf zwischen 47.000 und 49.000 Fahrzeuge angepasst. Das Unternehmen best盲tigt die j盲hrliche Lieferprognose mit einem niedrigen einstelligem Wachstum im Vergleich zu 2023, mit einer erwarteten Liefermenge im Bereich von 50.500 bis 52.000 Fahrzeugen. Rivian wird die Finanzzahlen f眉r das 3. Quartal 2024 am 7. November 2024 nach Handelsschluss ver枚ffentlichen, gefolgt von einem Audio-Webcast um 17:00 Uhr ET, um 眉ber die Leistung und die Gesch盲ftsaussichten zu diskutieren.
- Produced 13,157 vehicles in Q3 2024
- Delivered 10,018 vehicles in Q3 2024
- Reaffirmed annual delivery outlook with low single-digit growth compared to 2023
- Production disruption due to shortage of shared component on R1 and RCV platforms
- Revised annual production guidance downward to 47,000-49,000 vehicles
Insights
Rivian's Q3 production and delivery figures reveal significant challenges. The company produced 13,157 vehicles but delivered only 10,018, indicating potential inventory buildup or logistics issues. The supply shortage of a shared component is particularly concerning, as it affects both R1 and RCV platforms, leading to a downward revision of the annual production guidance to 47,000-49,000 vehicles.
The reaffirmation of the annual delivery outlook with low single-digit growth (50,500-52,000 vehicles) compared to 2023 suggests Rivian is prioritizing deliveries over production. This strategy may help maintain cash flow but could strain relationships with suppliers and impact future production scalability.
Investors should closely monitor the upcoming Q3 financial results on November 7 for insights into how these production challenges are affecting Rivian's financial health, cash burn rate and progress towards profitability. The component shortage and production disruption could have ripple effects on Rivian's ability to meet customer demand and maintain its competitive position in the EV market.
The supply shortage affecting Rivian's production is a critical issue that highlights vulnerabilities in the company's supply chain. The fact that a single shared component can disrupt production across multiple platforms (R1 and RCV) indicates a lack of supply chain diversification and risk mitigation strategies.
This situation underscores the importance of:
- Developing alternative sourcing strategies
- Improving inventory management
- Enhancing supplier relationships
- Implementing more robust forecasting and planning systems
The acute nature of the shortage suggests Rivian may need to reevaluate its just-in-time manufacturing approach and consider maintaining higher safety stock levels for critical components. Long-term, Rivian should focus on vertical integration or strategic partnerships to secure key components and reduce dependency on single suppliers. This disruption could lead to increased costs and potential loss of market share if not addressed promptly and effectively.
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.
The company also announced that on November 7, 2024, after market close, it will release its third quarter 2024 financial results. Rivian will host an audio webcast at 5:00 p.m. ET the same day to discuss the performance and outlook for the business. The live webcast will be available at and a replay will be available for four weeks at following the webcast.
Forward-Looking Statements:
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. We intend such forward-looking statements to be covered by the safe harbor provisions for forward-looking statements contained in Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements contained in this press release that do not relate to matters of historical fact should be considered forward-looking statements, including without limitation statements regarding our annual production and delivery outlook; expectations regarding the current supply shortage; and expectations regarding our future growth. In some cases, you can identify forward-looking statements by terms such as 鈥渕ay,鈥� 鈥渨ill,鈥� 鈥渟hould,鈥� 鈥渆xpects,鈥� 鈥減lans,鈥� 鈥渁nticipates,鈥� 鈥渃ould,鈥� 鈥渋ntends,鈥� 鈥渢argets,鈥� 鈥減rojects,鈥� 鈥渃ontemplates,鈥� 鈥渂elieves,鈥� 鈥渆stimates,鈥� 鈥渇orecasts,鈥� 鈥減redicts,鈥� 鈥減otential鈥� or 鈥渃ontinue鈥� or the negative of these terms or other similar expressions, although not all forward-looking statements use these words or expressions.
We have based these forward-looking statements largely on our current expectations and projections about future events and financial trends that we believe may affect our business, financial condition, and results of operations. Forward-looking statements involve known and unknown risks, uncertainties and other important factors that may cause our actual results, performance, or achievements to be materially different from any future results, performance, or achievements expressed or implied by the forward-looking statements, including, but not limited to, the important factors discussed in Part II, Item 1A, 鈥淩isk Factors鈥� in our Quarterly Report on Form 10-Q for the quarter ended June 30, 2024, and our other filings with the Securities and Exchange Commission. The forward-looking statements in this press release are based upon information available to us as of the date of this press release, and while we believe such information forms a reasonable basis for such statements, such information may be limited or incomplete, and our statements should not be read to indicate that we have conducted an exhaustive inquiry into, or review of, all potentially available relevant information. These statements are inherently uncertain, and investors are cautioned not to unduly rely upon these statements. While we may elect to update such forward-looking statements at some point in the future, we disclaim any obligation to do so, even if subsequent events cause our views to change.
About Rivian:
Rivian (NASDAQ: RIVN) is an American automotive manufacturer that develops and builds category-defining electric vehicles and accessories. The company creates innovative and technologically advanced products that are designed to excel at work and play with the goal of accelerating the global transition to zero-emission transportation and energy. Rivian vehicles are built in
Learn more about the company, products, and careers at .
View source version on businesswire.com:
Investors: ir@rivian.com
Media: Harry Porter, media@rivian.com
Source: Rivian Automotive, Inc.
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