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Rivian raised the low end of its annual delivery guidance to 67,000 vehicles after the R2 became its best-selling model by volume in the third quarter. The company says it expects most remaining deliveries needed to reach its target to be R2s, but it still posted a $913 million quarterly net loss.
Rivian raised the low end of its annual delivery forecast to 67,000 vehicles after its R2 midsize electric SUV became the company’s best-selling model by volume in the third quarter. The revised outlook signals growing reliance on the R2 as Rivian tries to expand sales, increase production and improve its financial performance.
Rivian’s new full-year delivery range is 67,000 to 70,000 vehicles, up from a prior range of 65,000 to 70,000. The company had already raised the lower end of its forecast from 62,000 to 65,000 after reporting 19,751 deliveries in the third quarter, a record for the automaker, according to the report. The latest adjustment followed the R2’s performance from July through September, when it outsold the R1T pickup, R1S SUV and electric delivery van individually.
On Rivian’s earnings call, interim Chief Financial Officer Derek Mulvey said the company expects most of the deliveries needed to reach its updated target to be R2s. To meet the low end of the annual range, Rivian would need to deliver at least 25,193 vehicles in the remaining quarter, according to the report’s calculation. That figure is a required delivery total, not a company guarantee.
Chief Executive RJ Scaringe said in a statement that Rivian had “great results with R2 becoming our best selling vehicle by volume in the third quarter.” He also said customer and media feedback had been “exceptional.” Those comments describe the company’s assessment; the report does not provide a separate customer survey or sales breakdown by R2 trim.
R2 Sales Put Rivian’s Targets Within Reach
The forecast increase points to the R2’s growing role in Rivian’s attempt to reach a larger customer base. The company designed the midsize SUV to sell at higher volume than its R1 vehicles, and the third-quarter result gives Rivian a near-term indicator of demand. But the annual target still depends on the company producing and delivering substantially more vehicles in the final quarter.
The stakes extend beyond sales volume. Rivian reported third-quarter revenue of $2.1 billion, up 38% from the same period a year earlier, but also recorded a $913 million net loss. That loss was smaller than the $1.17 billion reported for the year-ago quarter, but the company remains unprofitable. Rivian said it expects the R2 production ramp to help it end the year with a positive automotive gross margin; that is a stated expectation, not a reported result.
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Production Ramp and R2 Pricing
Rivian launched the R2 in June with a Performance Launch Edition priced just under $60,000, according to the report. The company said a Premium version priced at $53,990 is expected to arrive this year, while a Standard version priced at $44,990 is planned for 2027. The lower-priced models could broaden the lineup, but their timing and contribution to deliveries remain separate from the third-quarter sales result.
Rivian said it had started a second production shift for the R2 and expects its production run rate to rise over coming quarters. The vehicle is also intended to support the company’s longer-term plans for models such as the R3 and R4 and investment in autonomous-driving technology. Those projects are relevant to Rivian’s strategy, but the immediate news is the R2’s contribution to deliveries and the higher annual forecast.
Rivian’s software and services revenue rose 45% to $605 million, with the report linking growth to its Volkswagen Group partnership and other business activity. The company is developing its Autonomy+ driver-assistance offering and expects a limited rollout of a more advanced city-street system by year-end, according to the source. The report also says Rivian plans to deliver up to 50,000 robotaxis to Uber beginning in 2028; those longer-term plans do not change the near-term delivery guidance.
““We had great results with R2 becoming our best selling vehicle by volume in the third quarter.””
— RJ Scaringe, Rivian chief executive
Year-End Deliveries Still Depend on Output
The raised forecast is a company target, not a confirmed year-end result. Rivian has not yet reported the final-quarter delivery total, and the report does not specify how many R2s it delivered in the third quarter or how the model’s sales were divided among trims. The exact pace of the production ramp, customer demand across the planned price points and the company’s final automotive gross margin also remain unconfirmed.
The source describes the results as part of Rivian’s third-quarter earnings report but does not state the report’s year in the supplied material. Its delivery arithmetic identifies at least 25,193 vehicles as necessary to reach the lower end of the stated range; it does not establish that Rivian will deliver that number.
Rivian Faces a High-Volume Quarter
The next test is Rivian’s final-quarter delivery and production performance. Investors and customers will be able to compare the eventual results with the 67,000-to-70,000 annual target and assess whether the second R2 shift translates into sustained output. Rivian has said it expects most remaining deliveries to come from the R2, so the model’s ramp will be central to that comparison.
Further updates should clarify whether Rivian reaches its stated goal of a positive automotive gross margin by year-end and when the Premium and Standard versions become available. The company has given expected timing for those trims, but delivery results and profitability will depend on subsequent company disclosures.
Key Questions
Why did Rivian raise its delivery forecast?
Rivian raised the low end of its annual guidance after the R2 outsold the R1T, R1S and electric delivery van individually in the third quarter, according to the company and the earnings report.
What is Rivian’s updated delivery target?
The updated full-year range is 67,000 to 70,000 vehicles, compared with a previous range of 65,000 to 70,000.
How many more vehicles does Rivian need to reach the low end?
Based on the reported third-quarter delivery total of 19,751, Rivian would need at least 25,193 additional deliveries to reach 67,000, according to the report’s calculation. That is a required total, not a confirmed forecast for the final quarter.
Is Rivian profitable?
No. Rivian reported a $913 million net loss for the quarter, although that was smaller than its $1.17 billion loss in the same period a year earlier.
When are the lower-priced R2 versions expected?
Rivian said the $53,990 Premium model is expected this year and the $44,990 Standard model is planned for 2027, according to the source report.
Source: insideevs.com
