Rivian has revised its 2025 vehicle delivery forecast downward, citing evolving trade regulations and tariffs, even as the company delivered a stronger-than-expected financial performance in the first quarter of the year.
The EV manufacturer reported a Q1 2025 net loss of $541 million, a significant improvement over the $1.45 billion loss during the same period last year. Revenue rose 3% year-over-year to $1.24 billion, surpassing analyst estimates of $983.65 million.
Rivian also reported adjusted earnings per share of -$0.41, beating expectations of -$0.76 per share.
CEO RJ Scaringe highlighted the company’s financial momentum, noting that Rivian achieved its second consecutive quarter of positive gross profit, reaching $206 million. This milestone triggered a previously agreed-upon $1 billion investment from Volkswagen Group as part of a joint venture between the two automakers.
Despite the progress, Rivian cut its full-year 2025 delivery target to between 40,000 and 46,000 vehicles. That’s down from earlier projections of 46,000 to 51,000 vehicles and reflects challenges tied to international trade dynamics, including new tariffs that are raising production costs and complicating logistics.
In Q1, Rivian produced 14,611 vehicles and delivered 8,640 units, down 36% from a year ago, largely due to reduced deliveries of its commercial vans and softer consumer demand. However, interest in Rivian’s EVs appears to be on the rise as the company says it hosted over 36,000 demo drives during the quarter — the most in its history — ahead of the R2’s launch, which rivian also said is still on track for the first half of 2026.
