Saturday, April 13, 2024

The troubled car brand does not expect to sell more cars this year

They are already planning a cheaper model next month, but Rivian will not put it into production until 2026. Sales also look poor.

Things are not going very well for the American car manufacturer Rivian at the moment. Not even if they have plans to land in Europe. Read more about it here.

Recently, a report about mass layoffs caused the brand's share value to fall by as much as 17 percent.

The share price did not feel better because Rivian also said that it does not expect to be able to sell more cars than was the case in 2023.

Reuters writes that.

READ ALSO: Well-known car dealer revealed – now he is personally bankrupt

All of last year, the brand managed to build 57,000 cars. Each time in other with massive economic losses.

According to the news agency, analysts had much higher expectations for Rivian. Among other things, they had hoped that the brand could build over 81,000 cars last year.

The management behind the electric car brand could also say that they expect to lose 2.7 billion dollars corresponding to 18.6 billion Danish kroner on operations this year.

The hope is, however, that the upcoming low-cost model R2 can reverse the trend. Among other things, because it should actually be cheaper to build.

Rivian has already said that the car, which will be a 'smaller SUV', consists of 30 percent fewer ECU units. And that you can therefore save a quarter of the wiring network. At least compared to the current models the SUV R1S and the pickup R1T.

Read more news from and about Rivian right here!

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