Rivian reported $874 million in revenue for the third quarter of 2024, down 34.6% from a year earlier and more than 12% below analyst estimates, according to TechCrunch’s November 7, 2024 report. The production constraint involved a component within the Enduro motor used in the R1T and R1S. That is a historical explanation for the quarter’s results—not evidence that the same shortage remains a problem today.
What caused Rivian’s Q3 2024 revenue decline?
TechCrunch attributed the decline to lower production and deliveries amid a shortage of a component within Rivian’s Enduro motor. The motor is used in the R1T and R1S. Rivian did not publicly identify the supplier in the report, so the available account establishes the affected component and vehicle lines, but not the supplier’s name.
Rivian founder and CEO RJ Scaringe described the supply constraint as substantial and a priority for the company at the time. He said the issue was “really a short-term issue,” while acknowledging the challenges it created. That was his assessment in November 2024, not a later confirmation that the specific shortage had been resolved.
How large was the revenue hit?
Rivian’s $874 million in Q3 2024 revenue was 34.6% below the $1.33 billion it reported for Q3 2023. TechCrunch also reported that the result came in more than 12% below analysts’ estimates. These are separate comparisons: one is year over year, while the other is against expectations.
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The company had lowered its 2024 production guidance the prior month to 47,000–49,000 vehicles, citing an acute supply issue involving an Enduro motor component. That guidance was for the full year, not a statement of Q3 output or a current forecast.
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Rivian’s July 30, 2026 Q2 2026 results show that the 2024 decline should not be described as an ongoing revenue trend through the latest period covered here. The company reported $1.658 billion in quarterly revenue, up 27% year over year, and $179 million in gross profit. It also revised its 2026 delivery guidance to 65,000–70,000 vehicles.
The later results describe distinct business factors, not a continuation of the identified Enduro shortage. Rivian’s Q2 2026 earnings presentation reported 12,194 deliveries, $108 million in regulatory-credit revenue, and approximately $100 million in incremental cost of revenue associated with the R2 production ramp compared with more normalized production levels. The company’s Q2 2026 SEC filing discusses supplier disruption and tariff risks generally, but does not name the supplier behind the 2024 Enduro issue or state when that specific constraint ended.
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