Rivian Experiences Supply Decline Throughout Q2

It is not simply Tesla.

Rivian Automotive’s Q2 deliveries have been additionally down. The corporate shared its manufacturing and supply outcomes on Wednesday. It delivered 10,661 autos within the quarter ending on June 30. That is a noticeable drop in comparison with the identical time final 12 months, when Rivian delivered 13,790 autos. Reuters reported a 22% decline.

Its inventory dipped on Wednesday and closed down 4.45%.

The corporate shared that it produced 5,979 autos at its Illinois-based manufacturing facility over the past quarter. The corporate produced 9,612 autos throughout the identical time in 2024.

“Manufacturing was restricted through the second quarter in preparation for mannequin 12 months 2026 autos anticipated to launch later this month,” the corporate stated on Wednesday. “Manufacturing and supply outcomes for the quarter are according to Rivian’s outlook.”

Rivian stated it acquired a $1 billion fairness funding from Volkswagen Group as a part of a three way partnership between the 2 firms.

Tesla, led by Elon Musk, additionally shared supply numbers on Wednesday.

The corporate delivered 384,000 electrical autos throughout its second quarter, which missed Wall Avenue analysts’ expectations. It marks the biggest quarterly decline in pure numbers in Tesla’s historical past.

The electrical automobile business faces headwinds because it navigates shoppers’ uncertainty and the fallout from President Donald Trump’s tariffs.

Tariffs and shopper issues aren’t the one obstacles that might journey up the electrical automobile business.

Trump’s home tax and spending invoice would additionally have an effect on the clear vitality sector. The invoice, if handed and signed into legislation, might finish the $7,500 EV tax credit score on new leases and electrical automobile gross sales by the tip of September, based on Reuters. Though Rivian did not qualify for the tax credit score, the corporate relied on a leasing loophole to put it to use. The potential lack of the tax credit score might affect firms like Tesla, although.

Representatives for Rivian didn’t reply to a request for remark from Enterprise Insider.