Electric vehicle manufacturer Rivian (RIVN, Financial) announced a significant drop in its first-quarter deliveries. The company is experiencing challenges with weak demand, leading to a pre-market stock decline of over 2.5%.
For the quarter ending March 31, Rivian delivered 8,640 vehicles, a decrease from the 13,588 vehicles delivered in the same period last year. Despite the decline, the delivery numbers surpassed analysts' average expectations of 8,200 vehicles, according to Visible Alpha.
