How electric vehicle sales are going in 2024 has been watched with interest by many. Newbies like Rivian have entered an environment of uncertainty and greatly reduced growth. Still, if the product is desirable then there is no reason for pessimism. Below are delivery and production figures for 2024 compared to 2023
Deliveries are to the left and production to the right. Deliveries were up 3% and production down 14%. The % column show the percentage of volume by quarter and the +/- a quarterly comparison with the quarter the year before.
Data & picture source: Rivian.
Rivian estimated a production total of 57,000 which seemed a tad optimistic. Its sales reached 51,600 and production 49,500. In 2023 production was higher as inventory increased. In 2024, numbers evened out as would be expected if inventories are to be kept under control. Currently, there are passenger car models (SUV and pick-up) and I assume the data also includes a delivery van.
Rivian recently stated that it and the Volkswagen Group intend to enter a joint venture to create vehicle platforms to be used in both companies’ future electric vehicles. The Volkswagen Group will invest an initial $1 billion in Rivian, with up to $4 billion in planned additional investment. So that seems to be very positive news for this fledgling electric car manufacturer.
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