Stifel notes that Tesla (TSLA) and Rivian (RIVN) announced Q1 2026 vehicle delivery and production numbers earlier today. For Tesla, vehicle deliveries of 358,023 missed the consensus by 2.1%, while energy storage deployments of 8.8 GWh were well below the 14.4 GHw consensus. On the Rivian front, deliveries of 10,365 exceeded Stifel’s estimate by 4.2% and the company reiterated full-year delivery guidance of 62,000-67,000. Overall, the firm views Tesla’s release as negative for the shares, and Rivian’s as modestly positive. Also, Stifel notes that if gasoline prices remain at elevated levels during and possibly after the Iran War, it likely fuels higher EV sales.
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