Rivian Creates New Sales Record In 2024

The American EV startup has been growing leaps and bounds despite the slowdown in EV demand last year

Rivian has bagged a new sales record for the year 2024. It sold more cars in 2024 in comparison to 2023. Now, this is particularly impressive since we saw many other carmakers struggle last year. This even includes Tesla which recorded its first-ever decline in sales on a year-on-year basis in its history. That speaks volumes about how pertinent this feat from Rivian is.

You might also like: Gen 2 Rivian R1 Owners Won’t Find Front Under-Seat Storage In Their EVs

Rivian Creates New Sales Record In 2024

As we move deep into the new year, carmakers are releasing their performance for 2024. Rivian claims that it produced 49,476 units and managed to deliver a record 51,579 units in 2024. Note that in the whole of 2023, it delivered 50,122 vehicles. In fact, in Q4 2024, the American EV giant produced 12,727 cars and delivered 14,183. The latter is higher than what it delivered in the same time frame a year prior (2023).

I had reported previously that Rivian announced that its sales target for the year was between 50,000 and 52,000. Evidently, it managed to come extremely close to that mark. This signifies a healthy growth trajectory despite some hiccups due to a miscommunication with one of its suppliers, Essex Furukawa. This was regarding a component which is required for its in-house Enduro motors.

These motors are used in the dual-motor variants of the R1 range of EVs, as well as in the single-motor front-wheel-drive EDV vans. As a consequence, it revised its production plans from 57,000 to 49,000. This goes to show how it managed to deal with a blunder and still posted impressive sales. I must also mention here that Rivian has clarified that this issue no longer plagues its production operations. To know the profitability figures of Rivian, we will need to wait until February 20.

You might also like: Rivian To Get $6.6 Billion Loan From Government For Georgia Plant

Learn Electric Cars Says

We all know that last year threw up a challenge to the EV industry in major international markets across the globe. It was not that the sales were declining, but the growth was not as rapid as expected. Hence, carmakers revised their plans accordingly. To still have a positive y-o-y growth is quite commendable. Going forward, Rivian has plans to commence production at its new plant and introduce mass market products in the form of R2 and R3. That will be the ultimate attempt for high profitability and sales volumes.