Rivian R1S
Discover the Untold Success Story of Rivian’s Growth in California
While Tesla’s dominance in California continues to grab headlines, it’s Rivian – the electric pickup and SUV manufacturer based in Irvine – that has quietly surged ahead.
The California New Car Dealers Association (CNCDA) recently unveiled remarkable new figures, highlighting that Rivian experienced a staggering growth rate in the state during the first half of 2023. In fact, it outpaced all other car manufacturers by a wide margin.
According to the CNCDA, Rivian achieved a remarkable year-over-year growth rate of nearly 200% in California through June, solidifying its position as a major player in the largest electric vehicle market in the U.S.
Rivian saw explosive growth in California in the first half of 2023.
Specifically, Rivian’s registrations in the second quarter alone skyrocketed by an astonishing 156%, climbing from 870 units to 2,225, according to the CNCDA.
Earlier this year, Rivian demonstrated its production prowess by delivering 12,640 vehicles and producing 13,992 in the second quarter, marking a remarkable 50% increase compared to the previous quarter.
The standout star among Rivian’s lineup is the R1S SUV. In July, the company introduced a new and more affordable dual-motor variant of this highly anticipated vehicle, further solidifying its position in the market.
Rivian R1S.
As Tesla alternative, Rivian has quickly gained traction among consumers. A recent Bloomberg survey revealed that Model 3 owners considering purchasing a non-Tesla brand in the next two years are increasingly drawn to Rivian. The R1S SUV emerged as the top choice, garnering a remarkable 34.1% “popularity” rating as an alternative to Tesla, more than doubling the popularity of the Ford F150 Lightning electric vehicle. The Rivian R1T pickup also secured a prominent position as the second most preferred alternative to Tesla.
Interestingly, Rivian’s appeal extends beyond statistical success. In popular recreational spots like Lake Tahoe, the brand has become the go-to choice for off-road-capable electric vehicles.
Shifting focus to the stock market, Rivian’s stock has recently been endorsed by Baird analyst Ben Kallo, who described it as a bullish “fresh pick” ahead of the company’s upcoming delivery report. Kallo anticipates that Rivian will exceed Wall Street’s expectations, benefiting from an improved supply chain and the utilization of in-house components.
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