Locator: 46442EVS.
Breaking news: Harvard president resigns. About time. My hunch, one very powerful individual, thinking long term, weighed in. Note that "the governing board still 'stood by her.'"
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Now Back To Autos
Autos:
Rivian:
Tesla: link here. Hits his 2023 target. Pretty amazing.
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More
From the CNBC link:
Shares of Rivian Automotive declined by almost 10% during early trading Tuesday after the company reported increased vehicle production during the fourth quarter but fewer deliveries than the previous period.
The company said it delivered 13,972 vehicles from October through December, down 10.2% from the third quarter of 2023 but in line with Wall Street’s expectations. Analysts surveyed by FactSet had expected Rivian to deliver about 14,000 vehicles during the quarter.
Rivian produced 17,541 EVs during the fourth quarter, an increase over the 16,304 it produced during the third quarter.
It produced 57,232 vehicles for the full year, all at its factory in Normal, Illinois. That topped the company’s full-year 2023 production guidance of 54,000 vehicles.
Rivian will announce its fourth-quarter earnings result after markets close on Feb. 21.
Rivian’s results come on the same day U.S. EV leader Tesla easily topped Wall Street’s expectations for fourth-quarter deliveries.
From the CNBC link:
Tesla just published its fourth-quarter vehicle production and deliveries report for 2023.
Here are the key numbers:
- Total deliveries Q4 2023: 484,507
- Total production Q4 2023: 494,989
- Total annual deliveries 2023: 1,808,581
- Total annual production 2023: 1,845,985
In 2022, the Elon Musk-led automaker reported annual deliveries of 1.31 million and production of 1.37 million electric vehicles. The new numbers represent delivery growth of 38% year over year and production growth of 35% year over year. In 2022, the company reported 40% growth year over year in deliveries from 2021.
In its last earnings call in October 2023, Tesla execs offered guidance that the company would notch at least 1.8 million deliveries for the full year, a number they had revised down from a 2 million goal earlier.
Analysts had expected Tesla to report deliveries of 477,000 for the year-ending quarter, according to a consensus of estimates compiled by StreetAccount as of Dec. 28. Deliveries are the closest approximation of sales reported by Tesla but are not precisely defined in the company’s shareholder communications.
During a third-quarter earnings call in October, Tesla CEO Musk said the company’s Model Y entry-level SUV was likely to “be the bestselling car on Earth, but not just in revenue, but in unit volume,” for the year. Tesla does not break out delivery and production numbers by individual model but reported combined numbers of:
Tesla produced 476,777 Model 3 and Model Y vehicles during the quarter and reported 461,538 deliveries for these models. It didn’t break down Model S or X production or delivery numbers, instead batching them into “Other Models.” It produced 18,212 other models and delivered 22,969 during the quarter.
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