Rivian Q3 Deliveries Hit Record — Retail Says Sub-$50K R2 Could Make It Stronger Rival To Tesla

• Rivian delivered 19,248 vehicles in Q3, up sharply from 13,201 a year earlier.
• The EV maker reaffirmed its 2026 delivery outlook of 65,000 to 70,000 vehicles.
• Rivian’s Georgia plant, which will ramp up R2 production, is expected to come online in 2028.

Shares of Rivian Automotive (RIVN) gave up pre-market gains and traded 1.8% lower on Friday morning, despite reporting record third-quarter vehicle deliveries.

The EV maker reported 19,248 vehicle deliveries in the third quarter (Q3), above analysts’ expectations of about 18,000, as the automaker continued to ramp up production of its lower-priced R2 SUV. Rivian produced 19,751 vehicles at its Illinois plant during the quarter.

The latest numbers mark a sharp jump from the 12,194 vehicles delivered in the second quarter (Q2) and 13,201 vehicles in Q3 2025.

Rivian also reaffirmed its full-year (FY) 2026 delivery outlook of 65,000 to 70,000 vehicles.

Tesla’s Q3 Deliveries In Focus

Earlier in the day, Tesla reported better-than-expected Q3 deliveries, though they fell roughly 2% from a year earlier. Tesla produced 464,391 vehicles during the quarter, up from 447,450 a year ago.

This led Deepwater Asset Management’s Gene Munster to say that the “EV winter” is thawing.

Rivian Bets Big On R2

Rivian began deliveries of the R2 midsize SUV on June 9 and has since been gradually increasing production, with management previously targeting a move to two production shifts by the end of Q3.

At Morgan Stanley’s Laguna Conference earlier this month, CEO RJ Scaringe said Rivian’s Illinois factory is not the main constraint on the R2 ramp. Instead, he said production growth will largely depend on how quickly the company’s suppliers can scale output. Rivian has started construction of a second plant in Georgia, which is expected to come online in 2028.

Retail Says R2 Standard Could Make It Stronger Rival To Tesla

Retail sentiment surrounding RIVN on Stocktwits turned ‘bullish’ from ‘neutral’ over the past 24 hours, amid ‘high’ message volumes.

One user on the platform said Rivian’s sub-$50,000 R2 Standard, due in early 2027, could drive much higher volumes and make it a stronger rival to Tesla.

Another user said they are “super confident” that RIVN will be in the 20s by Christmas.

RIVN shares are down around 25% so far this year, underperforming Tesla, whose shares have fallen 15%.

Also read: ASTS Stock Heads Its Worst Week In Over A Month: This Analyst Has Slashed Price Target By Over 20% On Pricing Concerns

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