Rivian announced on Thursday that its newly introduced R2 SUV became its best-selling model during the third quarter of 2026, leading delivery volumes ahead of the R1 and the Amazon delivery van. The company built 19,751 vehicles and delivered 19,248 during the quarter, generating $2.155 billion in revenue, up 38 percent from the same period last year. Buoyed by R2 demand, Rivian raised the low end of its full-year delivery guidance from 65,000 to 67,000 vehicles, keeping the upper target at 70,000. [1][3][2]
Production accelerated after Rivian introduced a second shift at its plant in Normal, Illinois. While the vehicle ramp contributed to a narrower total net loss of $913 million compared to $1.2 billion a year prior, manufacturing costs for the new model weighed on core vehicle profitability. Rivian’s automotive segment recorded an $80 million gross loss, saddled with roughly $120 million in additional costs tied directly to the R2 ramp. Overall company gross profit reached $176 million, heavily cushioned by $605 million in software and services revenue that includes its development joint venture with Volkswagen Group. [1][3]
Rivian launched the R2 in June at a starting price just under $60,000, and it intends to offer a $53,990 premium trim later this year before adding models priced as low as $44,990 in 2027. Reaching the updated delivery goal will require shipping at least 25,193 vehicles in the fourth quarter. The company is banking on lower-cost consumer models to secure sustained expansion as rival automakers pull back toward hybrid and combustion engines following the expiration of the federal $7,500 tax credit. [1][3]
