Rivian Automotive marked a significant milestone with its first-ever quarterly gross profit of $170 million in Q4 2024, exceeding analysts' expectations. Despite this accomplishment, the company anticipates selling fewer electric vehicles than projected due to potential impacts from governmental policy shifts, including tariffs and EV tax credits. CEO RJ Scaringe expressed concerns regarding supply chain costs and emphasized close monitoring of the evolving regulatory landscape. Rivian aims for a range of EV sales between 46,000 and 51,000 this year, demonstrating both progress and challenges ahead as the market adapts to changing policies.
Rivian recorded its first-ever quarterly gross profit of $170 million, achieving a goal while cautioning that policy shifts may impact EV sales this year.
The company expects modest profit this year despite forecasting sales of 46,000 to 51,000 EVs, below analyst estimates of 54,800.
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