Rivian’s R2 electric SUV became the automaker’s best-selling vehicle in the third quarter of 2026, surpassing the R1 lineup and commercial delivery van in its first full sales quarter. The California company reported Thursday, October 29, that overall vehicle deliveries rose 46% from a year earlier to a record 19,248, while quarterly revenue climbed 38% to $2.155 billion.

The company produced 19,751 vehicles at its Normal, Illinois, factory during the quarter. Rivian did not disclose a separate R2 sales figure, so the 19,248 total represents all models rather than R2 sales alone. The company raised the lower end of its full-year delivery forecast to 67,000 vehicles, keeping the upper end at 70,000.

Rivian introduces the R2 electric SUV and its design in its March 2026 launch video.

R2 makes Rivian more affordable

The five-seat R2 is intended to reach buyers who previously found Rivian’s larger SUVs and pickup trucks too costly. The Performance model with Launch Package starts at $57,990, while Rivian plans lower-priced configurations, including an approximately $45,000 version, in 2027. The price matters because the company is competing against established gasoline SUVs and electric vehicles, not only existing Rivian owners.

Higher revenue, but losses remain

The stronger sales did not eliminate Rivian’s losses. Its net loss narrowed to $913 million from $1.173 billion a year earlier, while its automotive business recorded an $80 million gross loss. Consolidated gross profit reached $176 million, helped by $256 million of gross profit from software and services. Of the segment’s $605 million revenue, $354 million came from Rivian’s Volkswagen joint venture.

Rivian is also counting on software and driver-assistance technology to improve its economics. The company expects a limited release of its supervised Point to Point driving feature later this year, with broader availability planned for 2027. In a Reuters interview, CEO RJ Scaringe said an autonomy milestone could unlock a further $250 million from Uber before year-end; that payment depends on meeting the agreed conditions.

Rivian announces the start of R2 customer orders and deliveries in June 2026.

The next test is whether Rivian can increase R2 production without extending its cash losses. Its reported free cash outflow was $1.124 billion in the quarter, even as per-vehicle manufacturing costs improved. The vehicle also expands Rivian’s ambitions beyond hardware: BitcoinVersus.Tech has covered the company’s LiDAR technology and the wider race to deploy commercial robotaxis.

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