Rivian’s optimism regarding its more affordable R2 model appears to be yielding tangible results. On Tuesday, the electric vehicle manufacturer disclosed its third-quarter production and delivery figures, revealing that it manufactured 19,751 units and delivered 19,248 to customers.
These numbers mark an 85% year-over-year increase in production and a 45% rise in deliveries. For Rivian, which operates on a direct-to-consumer sales model, these delivery statistics serve as a primary indicator of sales performance. Additionally, the company reaffirmed its full-year 2026 outlook, projecting it will deliver between 65,000 and 70,000 vehicles.
The recent sales momentum stands out as a notable positive development within an otherwise challenging automotive sector.
Direct-to-consumer sales model is risky when supply chains hiccup. Hope they don’t miss that 65k lower bound.
I’ve been waiting for a more affordable Rivian. If the R2 holds up like the R1T did, these numbers could double next year.
R2 finally making waves? Nice to see EV makers scaling up despite the market slowdown. Rivian might actually pull this off.
Wait, Q3 is 2024, not 2026? Confusing guidance here. Need clarity on whether that 2026 target is a typo or a long-term goal.
The 85% production jump is impressive, but hitting 70k deliveries by 2026 still feels ambitious for a company this size.