It’s a tough time to be in the electric car business, with sales dipping across the board. In that sense, it’s no big surprise that Rivian Automotive (NASDAQ:RIVN) has seen its share price drop by more than 20% year-to-date.
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Indeed, according to Cox Automotive, EV sales fell by 27% year-over-year in Q1 2026.
The Trump administration’s decision to allow the $7,500 consumer tax credit to expire last fall likely contributed to the decrease. Meanwhile, geopolitical turmoil has also harmed consumer sentiment, as escalating trade worries and inflationary pressures aren’t exactly encouraging for many would-be buyers.
However, in a very real way, Rivian is bucking this trend. In fact, its sales flew in the opposite direction, as the company’s 10,365 delivered EVs constituted a 20% year-over-year increase. The company also reaffirmed its 2026 delivery guidance of 62,000 to 67,000 vehicles.
Acknowledging the harsh trends buffeting the industry, top investor Chris Neiger is bullish on Rivian’s prospects.
“The real reason I keep holding Rivian is that I think the company is better off than it was a few years ago, even amid the difficult EV environment, and is positioning itself for more growth,” expounds the 5-star investor, who is among the top 1% of stock pros covered by TipRanks.
For one thing, Neiger is encouraged by the company’s momentum in a variety of aspects, including growing revenue ($5.4 billion in 2025, a year-over-year increase of 8%), its improving net losses ($3.6 billion in 2025, down from $4.7 billion in 2024), and its success in pursuing cost savings (in Q4 2024, the company removed $31,000 in automotive cost of goods sold per vehicle).
Going forward, the investor points out that the company’s new R2 lineup could set Rivian up nicely for the coming years. The first models cost about $58,000, cheaper than the company’s previous vehicles.
Moreover, Neiger notes that Rivian is aiming for the launch of future vehicles that will cost less than $50,000. This will be in the ballpark of the average price of a new car, he points out.
While there’s no guarantee that things will roll in the right direction, the investor is planning on sticking around.
“Rivian has made the right adjustments along the way to play the long game,” concludes Neiger. “I’m here for it.” (To watch Neiger’s track record, click here)
For its part, Wall Street is feeling mostly optimistic. With 10 Buys, 8 Holds, and 4 Sells, RIVN enjoys a Moderate Buy consensus rating. Its 12-month average price target of $17.91 points to gains of ~16%. (See RIVN stock forecast)
Disclaimer: The opinions expressed in this article are solely those of the featured investor. The content is intended to be used for informational purposes only. It is very important to do your own analysis before making any investment.