Rivian delivered a record 19,248 vehicles in the third quarter, a 46% jump from a year earlier that beat Wall Street's estimate. The automaker reaffirmed its 2026 delivery guidance of 65,000 to 70,000 vehicles as its cheaper R2 SUV reaches more buyers.
Rivian Automotive delivered 19,248 vehicles in the third quarter ended September 30, up from 13,201 a year earlier. That marks a 46% year-over-year increase and tops Wall Street's expectation of 18,000 units, according to estimates compiled by FactSet. The company produced 19,751 vehicles at its manufacturing facility in Normal, Illinois, during the quarter.
R2 rollout lifts volumes
The growth comes as Rivian ramps up production of its entry-level R2 SUV, a smaller and less expensive sibling to the flagship R1S SUV and R1T pickup. The R2 began reaching customers in June and is viewed by analysts as essential to Rivian's growth plans. Shares of the Irvine, California-based automaker rose approximately 2.3% in premarket trading after the results.
The electric vehicle sector still faces a difficult US policy environment, however, marked by the end of federal EV tax credits, tariffs, and weaker demand across the industry. Rivian raised its annual delivery forecast in July, citing stronger-than-expected demand for the R2.
Guidance holds, Q4 bar rises
Rivian reconfirmed its 2026 delivery guidance of 65,000 to 70,000 vehicles. The company also said quarterly production and deliveries were in line with its expectations. To hit the guidance range, Rivian would need to lift fourth-quarter deliveries by at least 20.5%, to 23,193 vehicles. Analysts on average project Rivian will deliver 66,685 vehicles in 2026.
The company also struck a long-term partnership with Uber in March, under which the ride-hailing firm agreed to invest up to $1.25 billion in Rivian and begin deploying fully autonomous R2 SUVs as robotaxis starting in 2028. Rivian is scheduled to report its third-quarter financial results on October 29.
Sources: US Top News and Analysis, All News, All News
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