Rivian Deliveries/Production : H1 2024

How electric vehicle sales go in 2024 will be watched with interest by many. Newbies like Rivian are entering an environment of uncertainty and greatly reduced growth. Still, if the product is desirable then there is no reason for pessimism. Below are the H1 2024 delivery and production figures for 2023 and 2024.  

Data & picture source: Rivian.

Deliveries are to the left and production to the right. In 2023 production was higher as inventory increased as expected. So far in 2024, numbers have gone the other way as would be expected if inventories are to be kept under control. The increase of 1% in production volume is therefore where it should be. Deliveries were up 33% so far but slowed in Q2.  

Rivian is estimating a production total of 57,000 which seemed a tad cautious after Q1 but now I'm thinking maybe realistic or even slightly optimistic. Whatever the outcome, at least the two current passenger car models (SUV and pick-up) are in popular segments. 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.