F - Some Bad News for Rivian Investors
2024-05-20 18:02:00 ET
Despite the doom and gloom surrounding the electric-vehicle (EV) industry lately, Rivian (NASDAQ: RIVN) investors have found some glimmers of positive news to digest. Unfortunately, that wasn't the case recently with registration data from S&P Global Mobility, which showed a sharp decline in vehicle registrations and some of Rivian's closest competitors surging.
Rivian carved out a niche in the EV market by beating rivals to the EV truck market during the fall of 2021. Unfortunately for Rivian investors, the competition caught up quickly, and it's taking a toll on the start-up EV's registrations.
Ford Motor Company 's (NYSE: F) F-150 Lightning remained the most popular EV truck in March, according to data from S&P Global Mobility. But perhaps more surprising was that the Tesla (NASDAQ: TSLA) Cybertruck, with its untraditional styling, also outsold Rivian's R1T.
For further details see:
Some Bad News for Rivian Investors