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 three quarters of delivery and production figures for 2024 and a complete 2023.
Deliveries are to the left and production to the right. It's important to note that deliveries were up 3% and production down 7%. The -25 and -36% you see below is comparing a full 2023 with only three quarters of 2024. The % column show the percentage of volume by quarter and the +/- a quarterly comparison with the quarter the year before.
Data & picture source: Rivian.
In 2023 production was higher as inventory increased. So far in 2024, numbers have evened out as would be expected if inventories are to be kept under control. Rivian estimated a production total of 57,000 which seemed a tad 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.
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