Electric car maker Rivian Automotive has released its latest delivery figures, with its third-quarter deliveries reaching 15,564 vehicles, above Wall Street analysts’ expectations.
Rivian said it is on track to meet its goal of producing 52,000 vehicles by 2023. Rivian currently sells the R1T pickup truck and the R1S SUV.
For the quarter that ended Sept. 30, Rivian delivered a total of 15,564 vehicles, compared to Visible Alpha’s estimate of 14,740, an increase of 23.1% from the second quarter (12,640 vehicles).
Notably, the company produced 16,304 vehicles at its plant in Normal, Illinois, up from 13,992 in the second quarter. This means Rivian needs to produce just over 12,300 more vehicles in the quarter to reach its full-year goal.
▲Photo courtesy of Rivian
According to Cox Automotive, thanks to price cuts, the average price of a Rivian electric car has dropped to $53,376 in July 2023 (currently about RMB 390,000), compared to nearly $70,000 a year ago.
It’s worth noting that Rivian has also been trying to cut costs and move to in-house Enduro powertrain development to reduce its dependence on suppliers.
Despite the slowdown, there are positive signs of growth in the U.S. EV industry, which has become one of the fastest-growing EV markets, according to market research firm Canalys Research.
