Rivian Is Making a Big Move, but Should Investors Follow in 2024?
When investors are eyeballing the electric vehicle (EV) market for the next Tesla-like stock, one thing people look for is a potential catalyst for the stock price to soar higher. Recently, Rivian (NASDAQ: RIVN) made a substantial move, but will it be enough to move the needle?
Believe it or not, some potential Rivian owners have been long awaiting a lease program. When many investors think of leasing, they think of luxury vehicles. That's because, in general, leasing accounts for only about 20% of new cars sold, but that increases significantly when you get into luxury or high-priced vehicles.
For instance, has a lease rate of 77%, while finance and cash contribute only 10% and 13%, respectively, to sales. Audi has a similar 70%/12%/18% split for the same options.
Source Fool.com
