Rivian shatters Q4 2023 production records, surpassing annual targets

  • Rivian soars in 2023 with 57,232 BEVs produced (up 135%) and 50,122 units delivered (up 147%).
  • Q4 domination: 17,541 BEVs produced (up 75%), 13,972 units delivered (up 73%). 
  • Since 2022, Rivian has produced 82,500 EVs and delivered 71,300 units, signalling substantial market growth

Rivian unveils record-setting 2023 performance, riding high on electrifying momentum into 2024

In the fourth quarter of 2023, Rivian reported strong EV production and delivery numbers, manufacturing 17,541 vehicles in Normal, Illinois – a notable 75% increase from the previous year and achieving its third consecutive quarterly record.

Despite delivering a solid 13,972 units in Q4, a robust 73% increase year-over-year, Rivian fell just shy of its Q3 record of 15,564 units – a noteworthy achievement nonetheless.

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The dip in Q4 sales, despite increased production, remains a mystery, raising concerns among Rivian investors who witnessed a slight 10% drop in stock value to around $21 per share; hopefully not indicative of a demand issue.

Rivian maintained secrecy on individual model figures, providing only the consolidated numbers for its three BEVs – R1T pickup, R1S SUV, and EDV commercial vans for Amazon.

Rivian’s Q4 2023 performance showcased impressive year-over-year growth:

  • Total production surged to 17,541 units, marking a substantial 75% increase.
  • Deliveries also soared, reaching 13,972 units, reflecting a robust 73% year-over-year rise.

In 2023, Rivian’s electric vehicle production and deliveries soared, exceeding 57,000 units and 50,000 units, respectively—more than doubling the results from the previous year.

Rivian’s Q1-Q4 2023 performance witnessed a formidable year-over-year surge:

  • Total production surged to 57,232 units, reflecting an impressive 135% increase.
  • Deliveries rose significantly to 50,122 units, marking a remarkable 147% year-over-year growth.

Exceeding the upgraded target of 54,000 units for 2023, production soared by over 3,000 units, having been boosted from 52,000 only a few months ago. As a point of comparison, in 2022, Rivian rolled out 24,337 electric vehicles and successfully delivered 20,332 to customers.

In total, Rivian’s cumulative production stands at over 82,500 electric vehicles, with more than 71,300 successfully delivered. The difference, approximately 11,200 units, which includes over 3,500 from Q4, is equivalent to less than one quarter’s worth of sales. The majority of production has predominantly served the U.S. market.

In the first 10 months of the year, a whopping 35,751 Rivians hit the streets in the U.S. By October, the Rivian R1S proudly claimed the eighth spot among the most registered Battery Electric Vehicles, notching up 19,387 registrations and giving the Tesla Model X a run for its money.

Rivian’s stellar 2023 performance, marked by record-breaking production and delivery figures, underscores its formidable presence in the electric vehicle market. The recent introduction of the 400-mile Max Pack battery option further solidifies Rivian’s commitment to innovation and customer satisfaction, offering an extended range for those seeking enhanced capabilities. With cumulative production exceeding 82,500 vehicles and deliveries surpassing 71,300, Rivian’s impact on the EV landscape is both significant and promising, setting the stage for continued success in the coming year.

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