Rivian’s (RIVN) stock is down after EV deliveries slip in Q1: Here’s what to expect in 2025

Rivian (RIVN) was bracing for fewer deliveries in the first quarter but still managed to beat expectations. With things looking up from here, the EV maker confirmed it’s still on track to deliver between 46,000 and 51,000 EVs this year.

Rivian’s Q1 2025 deliveries fall, but this was expected

Rivian delivered 8,640 vehicles in the first three months of 2025. Although that’s lower than last year’s quarterly numbers, it was in line with expectations.

During its Q4 earnings call, Rivian’s CFO Claire McDonough said the company anticipates fewer customer deliveries in the first three months of 2025.

McDonough explained that Rivian was hit with a “supply shortage of a component in our Enduro motor system” that began in the third quarter. Because of this, the company delivered more Tri-Motor R1S and commercial vans in the fourth quarter of 2024 than expected.

After handing over another 14,183 vehicles in Q4, Rivian topped expectations, as full-year 2024 deliveries reached 51,579.

Rivian said it was also impacted by the fires in Los Angeles, one of its biggest markets, and was dealing with “a challenging demand environment.”

Despite fewer deliveries in the first quarter, Rivian reaffirmed plans to deliver between 46,000 and 51,000 EVs this year.

Rivian has since overcome the supply shortage. In a statement last year, the company said that ” the previously discussed shortage of a shared component on the R1 and RCV platforms is no longer a constraint.”

Things already seem to be looking up for Rivian after the R1S was among the top five best-selling EVs in the US in February.

Rivian is also upgrading its manufacturing plant in Normal, IL, as it prepares to launch the midsize R2. Starting at about $45,000, Rivian’s R2 is expected to open an entire new market as the EV maker looks to enter its next growth stage.

Rivian’s stock was down about 5% after it released its first-quarter delivery and production numbers. However, over the past year, Rivian shares are still up over 20%.

We’ll learn more on May 6th, 2025, when Rivian releases its first-quarter financial results. Check back soon for more info.