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American Focus > Blog > Tech and Science > Rivian earnings: EV maker cuts delivery guidance because of Trump’s tariffs and trade wars
Tech and Science

Rivian earnings: EV maker cuts delivery guidance because of Trump’s tariffs and trade wars

Last updated: May 6, 2025 5:44 pm
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Rivian earnings: EV maker cuts delivery guidance because of Trump’s tariffs and trade wars
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Rivian Faces Delivery Challenges Due to Tariffs and Regulatory Changes

Rivian, the electric vehicle manufacturer, announced in its recent earnings report that it anticipates delivering fewer vehicles this year than initially projected. The company attributed this adjustment to President Trump’s tariffs and other regulatory modifications, underscoring the impact of the current administration’s economic policies on the automotive industry.

The revised delivery forecast for 2025 now stands between 40,000 and 46,000 EVs, a decrease from the previously stated range of 46,000 to 51,000 vehicles. Rivian’s capital expenditure guidance has been adjusted to $1.8 billion to $1.9 billion, up from the earlier estimate of $1.6 billion to $1.7 billion, primarily due to the expected ramifications of tariffs.

These developments come in the wake of Ford and General Motors retracting their guidance for the year due to economic uncertainties stemming from Trump’s tariffs. Ford expects an additional $2.5 billion in costs in 2025, while GM foresees a $5 billion impact.

Rivian had previously cautioned investors about potential challenges arising from shifts in government policies, regulations, and demand dynamics. The company’s growth trajectory faces further hurdles if the federal tax credit for EVs, currently at $7,500, is eliminated by legislative actions.

Despite the setback in delivery projections, Rivian managed to generate $206 million in gross profit in the first quarter of 2025, marking the second consecutive quarter of positive gross profit. This achievement also triggered a significant funding release from Volkswagen Group, a key partner in Rivian’s joint venture.

While gross profit figures showcase operational performance, net income figures provide a clearer picture of financial health. Rivian reported a net income loss of $541 million in the first quarter, an improvement from the $1.4 billion loss in the same period last year.

See also  Trump pivot on tariffs shows Wall Street still has a seat at his table

Automotive revenue dipped to $922 million from $1.12 billion in the first quarter of 2024, although total revenues saw a slight uptick year-over-year, driven by software and services sales. Software and services revenues surged to $318 million in the first quarter of 2025, nearly quadrupling from the previous year, attributed to various factors including new vehicle electrical architecture, software development services, and increased sales in remarketing, repair, and maintenance services.

This article was first published at 4:06 p.m. ET and has been updated with information from Rivian’s earnings call.

TAGGED:cutsdeliveryEarningsGuidancemakerRivianTariffsTradeTrumpsWars
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