Rivian (NASDAQ:RIVN) stock is in focus after Consumer Reports released its list of the Most and Least Loved Car Brands. The publication ranked the list based on survey responses of its members. Rivian’s R1 models led the list as the most-loved car brand, followed by BMW’s (OTCMKTS:BMWYY) Mini brand and then BMW itself. Rivian was the only company to receive the highest satisfaction score of 5, while 86% of owners said they would buy again. Tesla (NASDAQ:TSLA) topped the list last year, although its ranking fell to fifth place this year.
Consumer Reports also published a list of rankings for specific areas of vehicle performance. Rivian came in at sixth for comfort, second for driving handling, fifth for cabin storage, third for ownership cost and was unranked for usability.
“Remember that owner satisfaction reflects whether a car meets a customer’s expectations. The most satisfying cars aren’t necessarily the best on the market, and vice versa,” said Consumer Reports.
RIVN Stock: Consumer Reports Names Rivian as a Most-Loved Car Brand
In 2023, Rivian’s R1T also received the J.D. Power award for the most-satisfying ownership experience in the premium battery electric vehicles (BEV) category. J.D. based the award on the survey responses of 7,000 BEV and plug-in hybrid EV (PHEV) owners. The R1T also came in first among seven out of 10 key ownership qualities in the category.
Rivian’s vehicles are also viewed as extremely safe. Its R1T and 2023 R1S received the Insurance Institute for Highway Safety’s (IIHS) TOP SAFETY PICK+ award last year as well.
While great for publicity and marketing, awards from third-party companies unfortunately do not equate to stock performance. Shares of RIVN stock are down more than 25% year-over-year (YOY), although the company has a major update on the way.
On March 7, Rivian will unveil its R2 SUV. The vehicle is expected to be priced cheaper than Rivian’s current models at between $40,000 and $60,000. CEO RJ Scaringe previously stated that the R2 would be produced at a “larger scale” than the R1T and R1S, although it isn’t expected to be available until at least 2026.
On the date of publication, Eddie Pan did not hold (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
