Rivian Shines as a Bright Spot in a Down U.S. EV Market, and Surprisingly, It’s Not All R2 Driven
Registration data can be a helpful tool for investors trying to glean more information from automakers’ sales trends. It probably isn’t explained enough, but vehicle registration data serves as a proxy for vehicle sales. It provides a more inclusive and detailed look at model information, as some automakers don’t break out U.S. sales from global numbers, and/or don’t report monthly. The catch is that it can lag other sales data by about a month.
With that said, let’s take a look at the newest data that highlights Rivian Automotive‘s (NASDAQ: RIVN) surge toward the top during a rough overall month, trailing only Tesla (NASDAQ: TSLA) in August EV registrations.
Image source: Rivian.
Source: www.fool.com — article syndicated from the publisher’s feed; all rights remain with the original publisher.