Rivian Reports 22% Fall In Quarterly Deliveries

Tariffs have hit electric vehicle maker Rivian, which reported a sharp fall in second-quarter deliveries as demand for its EVs declined amid increased competition and tariff-driven economic uncertainty, Jenny McCall reported for Yahoo Finance.

Rivian delivered 10,661 vehicles in the quarter ended June 30—a 22.7% drop from the same quarter last year. I Photo: Rivian Facebook

Reuters reported: “Trade tariffs imposed by U.S. President Donald Trump have led to a surge in manufacturing costs for the sector, with carmakers scrambling to reorganize supply chains to mitigate the hit to their businesses.”

High interest rates are also deterring some buyers, while many are opting for cheaper hybrid and gasoline-powered vehicles to avoid the higher sticker prices and upkeep costs associated with fully electric models.

Rivian delivered 10,661 vehicles in the quarter ended June 30—a 22.7% drop from the same quarter last year—but in line with Visible Alpha estimates.