The R2 SUV is already Rivian’s best-selling vehicle

In the third quarter, Rivian's new R2 SUV emerged as the company's top-selling vehicle, according to the company's Thursday statement. Although the exact sales figures for the R2 were not disclosed, the company expressed confidence in the sales momentum and raised its delivery guidance for Wall Street. The original expectation for the year was between 65,000 and 70,000 EVs, but the company now anticipates delivering at least 67,000 units.

This marks Rivian's second delivery guidance increase this year and puts the company on track to surpass its three-year low of over 50,000 annual deliveries. Launched in June, the R2 was produced at an unprecedented pace, reflecting Rivian's strategy to scale production for the cost-effective SUV. The early triumph of the R2 bodes well for Rivian as it continues to attract new customers, even in the absence of the $7,500 federal EV tax credit and recent regulatory changes that have prompted many automakers to revert to internal combustion and hybrid vehicles.

"In a U.S. automotive marketplace starved for high-quality EV choice, R2 is an attractively priced option for everyday adventures that is resonating with a broad set of consumers and we expect will be a game changer for Rivian's long-term growth and profitability," the company stated in a shareholder letter. In Q3, Rivian manufactured 19,751 vehicles and delivered 19,248, representing a 45% increase from the previous quarter and a substantial rise from the 12,613 vehicles built and 12,194 delivered in the second quarter of 2026.

The surge was primarily attributable to the commencement of a second production shift at Rivian's facility in Normal, Illinois. While the R2 was deemed responsible for a significant portion of the quarter-over-quarter growth, the company refrained from providing further details. Rivian reported $2.2 billion in revenue for the third quarter and sustained a net loss of $913 million, marking a decline from the $1.2 billion loss reported in the same period last year.

The R2, starting at just under $60,000, offers a more affordable premium trim beginning at $53,990, with even lower-priced models expected in 2027, starting at a projected $44,990.