Rivian Raises 2026 Forecast as R2 Leads Third-Quarter Sales

Rivian delivered 19,248 vehicles in the third quarter, with its R2 electric SUV outselling the company’s other models and delivery van by volume, as the automaker raised its 2026 delivery outlook while reporting a substantial quarterly loss. The deliveries, for the three months ended Sept. 30, were about 46% higher than a year earlier. Rivian increased its 2026 forecast to 67,000 to 70,000 vehicles, from a previous range of 65,000 to 70,000. The R2 was in its first full quarter of production, and chief executive RJ Scaringe said Rivian had brought on a second production shift and was ramping it. Rivian reported a $913 million net loss attributable to common stockholders and $758 million in cash used in operating activities during the quarter. Automotive cost of goods sold per vehicle improved by more than $12,000 from the prior quarter, the company said, while the R2 production ramp added about $120 million in costs. The results place the R2 at the center of Rivian’s efforts to increase output and improve vehicle economics. The company has said stronger factory utilization as production scales could spread fixed costs across the R2, its R1 vehicles and commercial vans. The...