Rivian reports 36% drop in Q3 sales, slashes full-year production forecast on parts shortage
Rivian sold 10,018 vehicles in the third quarter and cut its full-year production forecast to around 48,000.
Rivian sold 10,018 vehicles in the third quarter and cut its full-year production forecast to around 48,000.
The end of the port strike that shut down shipping on the East and Gulf coasts after three days comes as a relief to the auto industry, which had feared supply bottlenecks that could last months.
Light-vehicle sales slid 2.4 percent in the third quarter, according to preliminary data from the Automotive News Research & Data Center.
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The automaker said it canceled all shifts Oct. 3 and Oct. 4 at Arlington Assembly in Texas and Flint Assembly in Michigan.