RIVN) and automotive stocks in the third quarter

The end of earnings season is always a good time to take a step back and see who shined (and who didn’t so much). Let’s take a look at how the automaker’s shares performed in the third quarter, starting with Rivian (NASDAQ:RIVN).

Producing functional, safe and aesthetically pleasing automobiles for the mass market requires large capital investments and technical expertise. Therefore, barriers to entry are high and automakers with economies of scale can boast strong economic moats. However, this does not protect them from new entrants as electric vehicles (EVs) have entered the market and are disrupting it. This has forced established manufacturers to not only contend with emerging EV-first competitors, but also to decide how much to invest in these breakthrough technologies, which will likely cannibalize their existing offerings.

The seven automaker stocks we track experienced slower growth in the third quarter. Overall, sales missed analysts’ consensus estimates by 3.4%.

Given this news, company share prices remained stable, rising an average of 4.5% since the last earnings results.

The maker of Amazon’s delivery trucks, Rivian (NASDAQ:RIVN), designs, manufactures and sells electric vehicles and commercial delivery trucks.

Rivian reported revenue of $874 million, down 34.6% year over year. This value fell 10.5% short of analysts’ expectations. Overall, it was a weaker quarter for the company, with analysts’ EBITDA and EPS estimates missed by a wide margin.

Rivian posted the slowest revenue growth of the entire group. Interestingly, the stock is up 17.9% since reporting and is currently trading at $11.83.

Is now the time to buy Rivian? You can access our full earnings results analysis for free here.

Founded in 1908 by William C. Durant, General Motors (NYSE:GM) offers a range of vehicles and automobiles under brands such as Chevrolet, Buick, GMC and Cadillac.

General Motors reported revenue of $48.76 billion, up 10.5% from a year earlier and beating analysts’ expectations by 9.9%. The company had a very strong quarter, significantly beating analysts’ adjusted operating income estimates and full-year EPS guidance exceeding analyst expectations.

General Motors outperformed analysts’ estimates the most compared to its peers. The market appears to be pleased with the results as the stock is up 12.4% since reporting. Currently the transaction price is $55.01.

Is now the time to buy General Motors? You can access our full earnings results analysis for free here.

Winnebago (NYSE:WGO) was founded to provide high-quality, affordable RVs to the postwar American family. The company is a recreational vehicle manufacturer and offers a range of motorhomes, travel trailers and fifth wheels products for the outdoor and adventure lifestyle.

The story continues