Rivian Q1 Deliveries Decline Y/Y Amid Weaker Demand for EV

Core Insights - Rivian Automotive, Inc. produced 14,611 vehicles in Q1 2025, an increase from 13,980 units in Q1 2024, but deliveries fell to 8,640 vehicles from 13,588 in the same period last year, aligning with the company's forecast [1] - The company expects deliveries to decline in 2025 due to weaker demand influenced by external factors such as fires in Los Angeles and a shift in consumer preference towards more affordable vehicles [2] - Rivian reaffirmed its 2025 delivery target of 46,000 to 51,000 vehicles, indicating stagnant demand for its premium R1 models, but anticipates a potential turnaround in 2026 with the launch of the R2 compact crossover [4] Industry Context - Industry-wide EV sales in the United States are projected to decline quarter over quarter but are expected to show year-over-year growth [5] - Potential tariff policies from former U.S. President Donald Trump could increase inflation and car prices, potentially discouraging major purchases, particularly affecting Rivian due to its reliance on suppliers from Mexico and Canada [3]