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Rivian's R2 Becomes Best-Selling Vehicle, Company Raises Delivery Guidance
Key points
- Rivian's R2 is now its best-selling EV by volume.
- Q3 2026 revenue reached $2.155 billion, a 38% increase.
- Software and subscription services revenue grew 45% to $605 million.
- Annual delivery guidance raised to a minimum of 67,000 EVs.
- Automotive gross profit loss decreased by $152 million year-over-year.
R2 Leads Sales Volume
Rivian's R2 electric vehicle has become the company's best-selling model by volume, as reported in its third-quarter earnings for 2026. This marks the first time the R2 has outsold all other Rivian EVs.
The R2, a mass-market SUV, launched in June and has quickly become the top seller. This early success indicates strong initial demand for the vehicle.
Financial Performance in Q3 2026
Rivian reported total revenue of $2.155 billion in Q3 2026, representing a 38% increase compared to $1.558 billion in Q3 2025. Automotive revenue accounted for $1.55 billion, up 36% year-over-year.
Revenue from software and subscription services saw a 45% increase year-over-year, reaching $605 million. The company's automotive gross profit loss improved by $152 million year-over-year, decreasing to $80 million.
Increased Delivery Projections
Following the R2's performance, Rivian raised its annual delivery guidance for the second time this year. The company now expects to deliver a minimum of 67,000 EVs, an increase from its previous range of 65,000 to 70,000.
This adjustment in guidance suggests Rivian's confidence in its production capabilities and the R2's sales pace, aiming to overcome previous struggles to ship more than 50,000 vehicles annually.
Strategic Focus on Software and Partnerships
While the R2's sales volume is significant, high-margin software deals and the Volkswagen partnership are also contributing to Rivian's financial health. The company is focusing on digital products, such as the Autonomy Plus package, as EV sales growth slows.
The R2's success also demonstrates Rivian's ability to attract new customers despite the loss of the $7,500 federal EV tax credit and changes in U.S. regulations affecting EV growth.
✨ This summary was generated by AI from the outlets' reporting listed below. It is not independently verified and may contain errors — check the original sources. How BrevFeed works →
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How outlets covered it
Rivian's new R2 SUV became its best-selling vehicle in the third quarter, leading the company to raise its annual delivery guidance for the second time this year. This indicates strong initial demand for the R2 and positions Rivian to overcome previous production stagnation.
Rivian's R2 electric vehicle is now its best-selling model by volume, as reported in the company's Q3 2026 earnings. The company saw a 38% increase in overall revenue to $2.155 billion, with software and subscription services revenue growing by 45% to $605 million. Rivian's automotive gross profit loss decreased to $80 million, an improvement of $152 million year-over-year.