Rivian’s sales pop as the company’s big R2 bet starts to pay off

Rivian said it produced 19,751 vehicles and delivered 19,248 in the third quarter, marking sizable year-over-year gains for the company. Production rose 85% compared with the same quarter last year, while deliveries climbed 45%. For Rivian, which sells directly to consumers, deliveries are treated as the closest proxy for sales.

The company reaffirmed its 2026 guidance, expecting to deliver between 65,000 and 70,000 vehicles this year. Rivian has been counting on its lower-priced R2 model to expand volume; the company has told investors it aims to sell more than 25,000 R2s in the model’s first year of production. While Rivian does not publish deliveries by model, it indicated that R1 truck and SUV and its electric delivery van volumes should remain roughly flat, implying about 6,000 R2 deliveries in Q3 if R1 and van volumes matched last year’s quarter.

Rivian’s sales momentum is notable against a weakening EV market. Cox Automotive data cited by the source showed overall EV sales down nearly 24% year-over-year through September 2026, and Tesla’s reported Q3 deliveries fell 2.1% from a year earlier. The company has positioned the R2 as critical to its transition from a subscale manufacturer to a scaled automaker.

The quarterly update arrives alongside other positive developments for Rivian: the company said the R2 reached its stated climate objective of cutting lifetime emissions by half four years ahead of schedule. Rivian’s stronger results and reaffirmed guidance will be watched closely by investors and industry observers as a counterpoint to broader softness in EV demand.