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Rivian (RIVN) shares surged by over 13% Friday morning — at the time of this video's posting in the afternoon, shares are currently up by over 22% — after beating fourth quarter EV delivery estimates: posting nearly 14,200 EVs during the fourth quarter and delivering nearly 51,580 electric trucks in 2024.
On the other hand, Tesla (TSLA) saw a decline in its annual EV sales for the first time in over a decade.
RBC Capital Markets Global Autos Analyst Tom Narayan joins the Morning Brief team to weigh in on the two electric automakers' recent performances.
"I think it's both of those may be overanalyzed a little too much," Narayan tells Brad Smith and Madison Mills. "For the Rivian one, we knew the company told us that Q4 was going to be stronger than Q3, they had a supply issue in Q3. The Q4 delivery number was actually consistent with their guidance."
Narayan explains that while Tesla came out below consensus estimates, its EV delivery results were "still a solid number," noting the company to have gotten a boost this past quarter amid conversations around the future of its full self-driving (FSD) capabilities.
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This post was written by Josh Lynch