in the US in the first quarter of 2024 compared to the first quarter of 2023. Why not roll Rivian into that? Well, Rivian is a different animal, and it seemed more fitting to discuss Rivian separately.
As you can see in this first chart, Q1 2024 sales are well above Q1 2023 sales, and Q1 2023 sales are Q1 2022 sales. That looks like great, massive growth. And, as with the automakers I discussed earlier, it only seems fair to look at year-over-year sales, and we shouldn’t put too much weight on changes from Q4 to Q1 since comparing these quarters is often a fool’s errand.
As we can see, Rivian’s sales peak was in the 3rd quarter of last year, at 15,564 deliveries. I’m not sure if anyone really expects Rivian to reach Tesla’s level of sales — about 2 million cars a year at the moment. However, 10× growth would be a nice target, especially with its mass-market, lower-cost R2 and R3 coming investment advice of any sort.
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Rivian Plans Electric Truck and SUV Production Pause as Deliveries Jump 71 PercentEverything appeared to be on track, according to a report on Rivian’s performance so far in 2024, which also confirmed a slowdown coming at their plant in Illinois.
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