Rivian Sets a Record With 19,248 Q3 Deliveries as the R2 Lifts It to Number Two in US EVs

Rivian Automotive reported record third-quarter deliveries of 19,248 vehicles, beating analysts average estimate of 18,001, after rolling out the cheaper R2 SUV targeted at the broader mass EV market. The company produced 19,751 vehicles at its Normal, Illinois plant in the quarter, and reaffirmed its 2026 delivery forecast of 65,000 to 70,000 vehicles. Shares slipped more than 2 percent in early trading after the report, with analysts noting the market had hoped for a guidance raise after such a strong quarter.

Cox Automotive and Kelley Blue Book estimates break the quarter down further. Rivian sold an estimated 19,239 vehicles in the US in the quarter, up 45.7 percent from a year earlier, while the overall EV market dropped 39.5 percent, pushing Rivian to 7.2 percent of the segment, good for second place behind Tesla. Most of the jump came from the commercial side, with commercial vans hitting 8,469 units, more than triple last year and roughly 44 percent of everything Rivian moved. The R2 showed up in the Cox data for the first time with an estimated 3,456 deliveries, already ahead of the Lucid brand total for the quarter, while R1S fell 31.8 percent to 5,582 and R1T fell 27.2 percent to 1,732 as buyers shifted to the cheaper model.

The R2, which began customer deliveries in June and starts at just under $60,000, is now the hinge of the Rivian story. The company expects to deliver 20,000 to 25,000 R2 units by the end of the year, which would make it one of the fastest-selling EVs in US history, second only to the Tesla Model Y, and it is preparing more affordable models near $45,000. Rivian reports full third-quarter financial results on October 29, when investors will learn whether record volume is also turning into record margins, or whether the R2 ramp is still costing more than it earns.