The latest production and sales data released by Rivian failed to meet market expectations. The Amazon-backed company produced a total of 13,980 vehicles in the first quarter ended March 31, up about 50% year-on-year but still down from 17,541 vehicles in the previous three months. Analysts had expected production of about 14,250 vehicles.
Additionally, Rivian delivered 13,588 vehicles in the first quarter, down about 3% sequentially but below the 10% to 15% decline it forecast in February.
The company said that in addition to the figures above, it has produced several thousand vehicles, but is currently waiting for parts, so these vehicles have not yet been included in this quarter’s production figures. Rivian reiterated its annual production forecast and plans to shut down production for several weeks in the second quarter to upgrade its production lines.
Rivian launched the new mid-size SUV R2 and crossover R3 last month, and said it will produce the Rivian R2 at its existing U.S. factory, priced at US$45,000 (Note: currently about 326,000 RMB), and the new car is expected to be Deliveries will begin in the first half of 2026.
