Rivian Raises 2026 Delivery Forecast as R2 Becomes Its Best-Selling Vehicle

Rivian reported third-quarter revenue of $2.155 billion on October 29, 2026, up 38% from the same period a year earlier, as the company's newer R2 sport-utility vehicle became its highest-volume model.

The US electric-vehicle manufacturer delivered 19,248 vehicles during the quarter, an increase of 46% year over year, and produced 19,751. Rivian said R2 deliveries exceeded those of its R1 models and commercial delivery vans. The company did not publish an exact breakdown of R2 deliveries by model, so the claim describes its ranking rather than a disclosed unit total.

Automotive revenue increased to $1.550 billion, while software and services revenue rose to $605 million. The software business includes work for the Volkswagen Group joint venture and subscription services. Rivian reported consolidated gross profit of $176 million, but its automotive segment still generated an $80 million gross loss. That distinction matters: positive group gross profit does not mean that selling vehicles alone has become profitable.

Rivian raised the lower end of its full-year delivery forecast to 67,000 vehicles from 65,000, retaining the upper end at 70,000. Management also improved its adjusted EBITDA outlook to a loss of $1.75 billion to $1.85 billion and lowered its capital-spending projection to $1.40 billion to $1.50 billion. The revised outlook reflects company expectations and remains subject to manufacturing and demand conditions.

The company reported a quarterly net loss of $913 million and negative free cash flow of approximately $1.124 billion. Rivian's results show that the R2 is supporting higher deliveries and revenue, while the costs of expanding production and developing vehicle technology continue to weigh on profitability.