Rivian talks up Volkswagen upside, Amazon sales, and potential new commercial van deals

Rivian Automotive (NASDAQ:RIVN) is being sized up by investors and analysts after falling short of revenue estimates with its Q3 earnings report amid what it said was a more challenging consumer environment. The electric vehicle maker is also being impacted by supply chain issues, which it said it is working very hard to address.

During the earnings call (transcript), Rivian (RIVN) management highlighted the early high points of the partnership with Volkswagen (OTCPK:VLKAF), more Amazon (AMZN) deliveries in Q4, and potential new commercial van deals in 2025. The company is also focusing on sourcing suppliers that will not be subject to large tariffs.

In reaction to the earnings report, Bank of America lowered its rating on Rivian Automotive (RIVN) to Neutral from Buy. Analyst John Murphy said the positive gross margin development is an important milestone, but warned that it will be supported by regulatory credits that could be at risk under the Trump Administration. Murphy and his team also now expect only moderate growth in deliveries for RIVN in 2025.

Wedbush Securities kept an Outperform rating on Rivian Automotive (RIVN) in place. Analyst Dan Ives said the LG partnership and the Volkswagen (OTCPK:VLKAF) joint venture will remain critical pieces looking forward on both the 4695 production and capital story. “Although we still remain confident in the long-term Rivian vision, it will take some serious strides for the company to regain trust in the short-term vision in the eyes of the Street,” he warned.

Shares of Rivian Automotive (RIVN) were down 0.2% in the Friday premarket session.