Additionally, he noted that Rivian's R1S SUV is leading in its category, especially against mostly smaller crossover EV SUVs. The analyst expressed confidence in Rivian's long-term estimates, citing the company's solid demand, increasing vehicle production, and detailed per-vehicle cost savings. Q2 Expectations: Looking ahead to the second-quarter results, Pierce anticipated that Rivian would maintain a conservative posture and might not raise its 2023 production guidance. However, he suggested that margins could offer upside potential due to higher production and deliveries, resulting in increased fixed cost absorption.