Some Bad News for Rivian Investors

Despite the doom and gloom surrounding the electric-vehicle (EV) industry lately, Rivian (NASDAQ: RIVN) investors have found some glimmers of positive news to digest. Unfortunately, that wasn't the case recently with registration data from S Global Mobility, which showed a sharp decline in vehicle registrations and some of Rivian's closest competitors surging.

Rivian carved out a niche in the EV market by beating rivals to the EV truck market during the fall of 2021. Unfortunately for Rivian investors, the competition caught up quickly, and it's taking a toll on the start-up EV's registrations.

Ford Motor Company's (NYSE: F) F-150 Lightning remained the most popular EV truck in March, according to data from S Global Mobility. But perhaps more surprising was that the (NASDAQ: TSLA) Cybertruck, with its untraditional styling, also outsold Rivian's R1T.

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Source Fool.com