Rivian first-quarter vehicle deliveries fell 36% compared to a year ago but came in within the company's expectations for the quarter. The EV startup also reaffirmed 2025 guidance. RIVN stock declined Wednesday.
Rivian reported Wednesday it delivered 8,640 vehicles in Q1 and produced 14,611 vehicles at its manufacturing facility in Normal, Illinois. A year ago, the Irvine, Calif.,-based company delivered 13,588 while it produced 13,980. The company also reaffirmed its 2025 delivery range guidance of 46,000-51,000 vehicles.
Analyst consensus had Rivian first-quarter deliveries totaling around 8,930 units, according to FactSet. However, that number was based on just four analysts. Rivian's Q1 outlook had been for approximately 14,000 vehicles produced and around 8,000 vehicles delivered.
Tesla also reports Q1 deliveries early Wednesday.
The Q1 delivery data comes after Rivian spun off on March 26 its "micromobility business" into a separate entity, now known as Also. The company will focus on small, lightweight vehicles "that are designed to meet the global mobility transportation challenges of today and tomorrow," according to Rivian. Also secured a $105 million investment from venture capital fund Eclipse Ventures, Rivian reported.
Rivian 2025 Outlook
Meanwhile, Rivian reported better-than-expected fourth-quarter earnings and revenue on Feb. 20 while also announcing it hit its target of positive gross profit per vehicle. The EV startup also reported gross profit of $170 million in Q4 and removed $31,000 in cost per vehicle.
"Our focus on cost efficiency across the business is critical for the launch of our mass-market product, R2," Chief Executive RJ Scaringe told analysts at the time. That new Rivian electric vehicle, a mid-size SUV, is due in the first half of 2026.
Rivian also gave a mixed 2025 outlook in late February. For 2025, Rivian continues to expect 46,000-51,000 deliveries, which would be down from 51,579 in 2024. It also expects an adjusted loss of $1.7 billion-$1.9 billion, narrowing from a loss of $2.69 billion in 2024.
Rivian Stock Performance
RIVN stock fell nearly 6% to 12.49 during Wednesday's stock market action, closing below its 200-day moving average.
The EV startup entered Wednesday's stock market trading nearly flat so far in 2025. However, RIVN is 20% below its 2025 high of 16.65, which it hit on Jan. 3.
Rivian stock has a 21-day average true range of 5.81%. The ATR metric is available on IBD's MarketSurge charting tool. It gauges the characteristic breadth of a stock's behavior. Stocks that tend to make large jumps or dives in daily action, the kind that can trigger sell rules and shake investors out of a stock, have a high ATR. Stocks that tend to make more incremental moves have lower ATRs.
In the current market, IBD suggests stocks with ATRs of 3% or below.
Rivian stock ranks fifth in the 35-stock IBD Auto Manufacturers industry group. The stock has a 61 Composite Rating out of a best-possible 99. Shares also have an 83 Relative Strength Rating and a 43 EPS Rating.
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