Q4 delivery volume exceeded expectations, Rivian Automotive (RIVN.US) increased by over 4%.
The company produced 12,727 cars in the fourth quarter of 2024 and delivered 14,183 cars during the same period.
Rivian Automotive (RIVN.US) announced on Friday that its manufacturing plant in Normal, Illinois produced 12,727 vehicles in the fourth quarter of 2024, and delivered 14,183 vehicles during the same period. Both figures exceeded analysts' expectations, causing the stock to rise over 4%.
For the full year of 2024, the company produced a total of 49,476 vehicles and delivered 51,579 vehicles. This performance roughly aligns with the company's previously set annual targets of producing 47,000 to 49,000 vehicles and delivering 50,500 to 52,000 vehicles.
It is worth noting that Rivian stated that the shortage of components shared between the R1 and RCV platforms is no longer a constraint on its production. This indicates that its production capacity could potentially increase further in the future.
Additionally, Rivian plans to release its fourth quarter financial report on February 20th, 2024, and the market will closely watch its financial performance and future outlook.
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