Rivian R2 becomes company’s top-selling vehicle in Q3

Rivian’s R2 was the company’s best-selling vehicle by volume in the third quarter of 2026, outselling the R1T, R1S and Electric Delivery Van, though Rivian did not disclose R2 unit counts. “We had great results with R2 becoming our best selling vehicle by volume in the third quarter,” CEO RJ Scaringe said.

Revenue rose 38 percent to $2.155 billion. Automotive revenue reached $1.55 billion, up 36 percent from a year earlier. Software and services revenue rose 45 percent to $605 million, with $354 million of that coming from Rivian’s joint venture with Volkswagen Group.

Deliveries hit a record. Rivian built 19,751 vehicles and delivered a record 19,248 in the quarter, with deliveries up 46 percent year over year. The company said the R2 drove much of the gain from the second quarter. The mass-market SUV began reaching customers in June.

The automotive gross loss narrowed year over year. Rivian’s automotive segment posted an $80 million gross loss, compared with a $130 million loss a year earlier, but that was wider than the $36 million loss in the second quarter. Rivian attributed about $120 million in extra cost of revenue to the R2 production ramp. Consolidated gross profit was $176 million, a $152 million improvement from a year ago, while software and services generated $256 million in gross profit at a 42 percent margin.

Losses shrank and Rivian beat estimates. Net loss attributable to common stockholders was $913 million, compared with $1.17 billion a year earlier. Adjusted loss per share was 48 cents, better than the 62 cents analysts expected, according to LSEG.

Rivian raised its 2026 outlook. The company now expects to deliver 67,000 to 70,000 vehicles this year, up from its prior range of 65,000 to 70,000. It also improved its adjusted loss outlook by $100 million at the midpoint and lowered planned capital spending to $1.4 billion to $1.5 billion.