Rivian Drops 5.2% In Premarket Trading After Disappointing Vehicle Delivery Outlook

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Rivian Drops 5.2% In Premarket Trading After Disappointing Vehicle Delivery Outlook - Benzinga

Quick Summary:

What Happened: The company said that it expects deliveries to be about 8000 in the first quarter due to lower commercial vehicle deliveries as well as seasonality and a challenging demand environment for consumer vehicles.

The company will instead focus on building inventory in the first quarter to help mitigate the impact of a planned shutdown in the second half of the year to prepare for the start of production of its R2 vehicle, it said.

Rivian Automotive (NASDAQ:RIVN) shares are down 5.2% in pre-market trading on Friday after the company said that it expects to deliver between 46,000 and 51,000 vehicles in 2025, less than the 51,579 deliveries reported in 2024.