Rivian's R2 overtakes legacy models as top seller by volume

Rivian delivered 19,248 vehicles in the third quarter of 2026, a volume that places the R2 as its best-selling model for the first time.

The company reported that the R2 outsold the R1T, R1S, and Electric Delivery Van during the period. Rivian CEO RJ Scaringe said, "We had great results with R2 becoming our best selling vehicle by volume in the third quarter." He added, "Customer and media feedback on R2 has been exceptional."

The R2 is designed as Rivian's mass-market offering. It targets a lower price point than the company's earlier, higher-margin trucks and SUVs. The vehicle has reached the top of the sales ledger by unit count, though it does not yet generate the majority of the company's cash flow.

Total revenue for the quarter reached $2.155 billion. This figure represents a 38 percent increase from the $1.558 billion reported in the third quarter of 2025.

Automotive revenue contributed $1.55 billion to the total. That segment grew 36 percent year over year. The remainder of the revenue came from software and subscription services, which totaled $605 million. This area saw a 45 percent year-over-year increase.

The company recorded $176 million in gross profit from automotive operations. This marks a $152 million improvement compared to the same period last year. Rivian still posted an $80 million loss in automotive gross profit. The loss shrank from $130 million in the previous year.

Software and services generated $256 million in profit, an increase of $102 million from last year. The profit margin for this segment stood at 42 percent. Much of this income derives from licensing technology to Volkswagen and from customer subscriptions for the Autonomy Plus package.

Production for the quarter hit 19,751 vehicles, an 85 percent rise from the prior year. Deliveries increased by 45 percent. Rivian attributes its improved financial position to higher vehicle sales and better margins per unit. The company also recorded revenue from selling pollution credits and a tariff refund from the government.

Rivian plans to launch lower-priced versions of the R2 in the coming years. The $55,485 Premium trim is scheduled for release in late 2026. The $49,985 Standard Long-Range model is slated for early 2027. The base $46,495 Standard trim is expected to arrive in late 2027.