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Rivian raised the low end of its annual delivery guidance from 65,000 to 67,000 vehicles after the R2 became its best-selling model by volume in the third quarter. The company reported a record 19,751 deliveries in Q3 and said most of the vehicles it expects to deliver for the rest of the year will be R2s. Rivian remains unprofitable, and it has not provided a final delivery count or detailed R2 sales figures.
Rivian raised the low end of its annual delivery forecast to 67,000 vehicles, from 65,000, after the R2 midsize electric SUV outsold the company’s other vehicles by volume in the third quarter. Rivian reported a record 19,751 deliveries from July through September and said it expects most of its remaining deliveries this year to be R2s.
The company had previously lifted the low end of its annual forecast from 62,000 to 65,000 vehicles. Its new range is 67,000 to 70,000, leaving the upper end unchanged. Rivian’s third-quarter earnings report said the R2 outsold the R1T pickup, R1S SUV and electric delivery van during the quarter. The report did not give a separate R2 delivery total.
On the earnings call, interim Chief Financial Officer Derek Mulvey said Rivian expects the majority of its remaining-year deliveries to be R2s. To reach the revised low end of its annual target, the company would need to deliver at least 25,193 more vehicles after Q3, according to InsideEVs’ calculation based on the reported delivery total and guidance.
Rivian said it has started a second production shift for the R2 and expects its production run rate to rise over the coming quarters. Chief Executive RJ Scaringe said the model had a strong quarter and praised customer and media response. Those comments reflect the company’s assessment; the earnings report did not quantify customer feedback or disclose a model-by-model sales breakdown.
R2 Becomes Rivian’s Volume Driver
The higher forecast signals that Rivian expects the R2 to make a substantial contribution to deliveries as production expands. The vehicle is central to the company’s effort to sell at greater scale: it is a midsize SUV intended to compete in a larger market than Rivian’s R1 models and to support the automaker’s financial recovery.
There is a gap between delivery growth and profitability. Rivian reported $2.1 billion in Q3 revenue, up 38% from the year-earlier period, but still recorded a $913 million net loss. That was smaller than its $1.17 billion loss in the same quarter a year earlier, but the company has not said that the R2 has already made the business profitable. Rivian expects the R2 production ramp to help it finish the year with a positive automotive gross margin; that is a forecast, not a reported outcome.
More deliveries could also increase the role of Rivian’s software and services business. Revenue in that division rose 45% to $605 million, with the company citing growth in the business and its partnership with Volkswagen Group. The R2’s longer-term importance may extend to funding future vehicles and autonomy development, but the earnings update does not establish how much funding the model will generate.
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Rivian’s R2 Production Ramp
Rivian launched the R2 in June with a Performance Launch Edition priced just under $60,000. The company expects a Premium version priced at $53,990 to arrive this year, followed by a Standard version priced at $44,990 in 2027. The stated prices and timing are company plans; the earnings report does not confirm future delivery volumes for each trim.
The R2 is part of Rivian’s wider product and technology plans. The company has said the vehicle will help support development of future models, including the R3, as well as its autonomy ambitions. Rivian currently offers Autonomy+ features that include hands-free highway driving and lane changes on command. It has said a more advanced system for point-to-point driving on city streets is planned for a limited rollout by the end of the year.
Rivian has also announced plans to deliver up to 50,000 robotaxis to Uber starting in 2028. Those plans, like the scheduled R2 trims and future driver-assistance features, are longer-term company initiatives rather than results confirmed in this quarter’s delivery figures.
“We had great results with R2 becoming our best selling vehicle by volume in the third quarter.”
— RJ Scaringe, Rivian chief executive
R2 Sales Mix Still Undisclosed
Rivian has not disclosed the number of R2s delivered in Q3, so the scale of its lead over the R1T, R1S and delivery van cannot be assessed from the reported figures. The company also has not reported how many R2s it has orders or reservations for, or how demand is distributed across its planned trims.
The revised guidance is a company forecast, not a guarantee. The remaining delivery target depends on Rivian sustaining production and converting vehicles into deliveries over the rest of the year. The earnings material provided does not specify how many units of the remaining target are already scheduled or identify risks that could alter the forecast. Rivian also remains loss-making, and its expectation of a positive automotive gross margin by year-end has yet to be reported as an achieved result.
Production And Year-End Deliveries
The next measures to watch are Rivian’s R2 production rate, quarterly deliveries and progress toward the revised 67,000-vehicle low-end target. The company says the second shift is in place and expects production to increase over coming quarters. Its year-end results will show whether the ramp was sufficient to meet guidance and whether automotive gross margin turned positive as forecast.
Rivian’s planned Premium and Standard versions will also test whether it can broaden the R2 lineup beyond the launch model on its stated schedule. The company has placed the Premium model’s arrival this year and the Standard model’s in 2027; it has not provided updated delivery targets for either trim in the earnings details cited here.
Key Questions
Why did Rivian raise its delivery forecast?
Rivian said the R2 became its best-selling vehicle by volume in Q3 and raised the low end of its annual delivery forecast from 65,000 to 67,000 vehicles. The upper end remains 70,000.
How many vehicles did Rivian deliver in Q3?
Rivian reported a record 19,751 deliveries for the third quarter. Its earnings report did not provide a separate R2 delivery total.
How many more deliveries does Rivian need to reach the revised low end?
Based on 19,751 Q3 deliveries and a 67,000 annual low-end target, Rivian would need at least 25,193 additional deliveries to reach that threshold. The figure is a calculation from the reported total and forecast, not a separate company projection.
Is Rivian profitable?
No. Rivian reported a $913 million net loss for Q3, although that was an improvement from a $1.17 billion loss in the year-earlier quarter. The company said the R2 ramp is expected to help it reach positive automotive gross margin by year-end, but that has not yet been confirmed as an outcome.
When are the lower-priced R2 versions expected?
Rivian says the $53,990 Premium model is expected this year and the $44,990 Standard model in 2027. Those are company-stated launch plans, not confirmed delivery figures.
Source: insideevs.com
