While Rivian registers a significant growth over Q1 2022, the deliveries are slightly lesser than what it recorded in Q4 2022
The recently released production and delivery figures by Rivian show strong growth year-over-year. However, a slight decline compared to the last quarter of 2022 shows that the registered uptick could be simply due to the end of the pandemic. In Q1 2023, the company’s Illinois-based facility churned out 9,395 BEVs, marking a tremendous 268 percent growth compared to a year ago. Compared to Q4 2022, the tally is lower by 625 units.
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Rivian Reports 7,946 Deliveries in Q1 2023
The recently released production and delivery figures by Rivian show strong growth year-over-year. However, a slight decline compared to the last quarter of 2022 shows that the registered uptick could be simply due to the end of the pandemic. In Q1 2023, the company’s Illinois-based facility churned out 9,395 BEVs, marking a tremendous 268 percent growth compared to a year ago. Compared to Q4 2022, the tally is lower by 625 units. In the first quarter of this year, Rivian reported 7,946 deliveries, corresponding to a massive 548 percent YoY growth. Compared to Q4 2022, deliveries were marginally lower by 108 units. As the carmaker doesn’t give a sales breakup for its lineup, all the figures above are for three Battery Electric Vehicles – R1T Pickup, R1S SUV, and EDV vans supplied to Amazon.
From the looks of it, of these, the R1T is the highest-selling model, while more than 3,000 vans have already been inducted into Amazon’s fleet. The production and deliveries would likely increase over the coming months. Rivian has revealed its target to produce 50,000 BEVs in the current calendar year. A statement from the company reads: “These figures remain in line with the company’s expectations, and it believes it is on track to deliver on the 50,000 annual production guidance previously provided.” Meeting the target would easily correspond to massive growth – the carmaker manufactured 24,337 units and delivered 20,332 vehicles in 2022.
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Order Backlog of 100,000 EDV Vans
Rivian has produced almost 35,000 Battery Electric Vehicles since Q3 2021. Of these, more than 29,000 have been delivered. As deliveries in Canada commenced only in November last year, most of the above units were sold in the USA. The bookings for the R1T/R1S surpassed 114,000 as of November 2022, but the latest report doesn’t provide the current figures. Still, the carmaker has reported that the waiting period extends into 2024. There’s even an order backlog of 100,000 vans slated to be supplied to Amazon. In a related development, it has come to light that Tesla Inc missed its sales target for Q1 2023 despite the multiple price cuts it rolled out over the last few months. Its production of 422,875 cars fell short of the 430,008 units projected by analysts. With the Austin-based carmaker garnering over a million pre-orders, it now looks like the Cybertruck would play a vital role in achieving the sales targets.
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