It's not just Tesla — Rivian's deliveries were down last quarter, too

Group 1: Rivian Automotive Performance - Rivian Automotive delivered 10,661 vehicles in Q2 2023, a 22% decline from 13,790 vehicles delivered in the same quarter last year [1] - The company produced 5,979 vehicles at its Illinois manufacturing facility in Q2 2023, down from 9,612 vehicles produced in the same period in 2024 [2] - Rivian's production was limited in preparation for model year 2026 vehicles expected to launch later this month, and the results are in line with the company's outlook [2] Group 2: Industry Context - The electric vehicle industry is facing challenges, including consumer uncertainty and the impact of tariffs [8] - Tesla delivered 384,000 electric vehicles in Q2 2023, marking the largest quarterly decline in pure numbers in its history, which missed Wall Street analysts' expectations [8] - Potential changes in tax legislation could end the $7,500 EV tax credit, which may impact companies like Tesla, although Rivian did not qualify for the tax credit [10]