Shares os automotive firm is developing a Record EV Presentation and Deliveries for second quarter of 2023

July 4, 2023: On Monday, shares of Rivian Automotive increased over 16% after the electric vehicle maker beat Wall Street anticipations for quarterly deliveries.

Monday’s Rivian reported 12,640 vehicle deliveries during the second quarter, up 59% from the last quarter and topping analyst expectations of 11,000 vehicles, according to analyst estimates compiled by FactSet.

The automaker, which makes electric R1T pickups and R1S SUVs for consumers, also reiterated its annual production target of 50,000 units. Rivian delivered roughly 23,400 vehicles through the second quarter, including electric delivery vans and consumer models.

On Monday, the increase in share price pushes Rivian’s stock into the green for the foremost time since late February. The stock is now up nearly 3% in 2023.

The company has taken longer than anticipated to build its EVs. It has also worked to reduce its spending to conserve cash.

Rivian’s results come a day after EV leader Tesla said it delivered 466,140 vehicles globally during the second quarter, also topping analyst expectations.

The better-than-anticipated deliveries for both automakers are good signs for investors who are bullish on EV stocks and the adoption of appearing vehicles.

Shares of embattled EV startups such as Lucid, Nikola, and others rose after Tesla and Rivian reported delivery numbers.

About Us

We provide the insights on leaders who are responsible for taking their organization to new heights, all the while bringing together a group of talented individuals.

Recent Posts | Make Profit Not Waste | Stephen Pratt

Supply chain leaders, including VPs, often find themselves making bets with unknown financial consequences. Having started with largely infeasible plans generated by deterministic “one-number” planning systems, compounded by unexpected supply or demand disruptions, they are forced into last-minute adjustments to meet operational and financial goals.

Intelichain | Revolutionary Supply Chain Planning Solutions | Roei Aviram

Unsurprisingly, today’s supply chain faces numerous issues, including sustainability, technology, global economic and political instability, talent management, and supply chain resilience. Advanced forecasting algorithms and predictive analytics are used in supply chain management to help organizations of all sizes make better decisions by providing insights into what’s going on in their business at any given moment and predicting future trends.

Shares os automotive firm is developing a Record EV Presentation and Deliveries for second quarter of 2023