Rivian’s R2 is officially its best-selling vehicle
Rivian says its R2 became its best-selling vehicle by volume in the third quarter of 2026, overtaking the R1T, R1S and electric delivery van. The milestone suggests the new model is starting to fulfil its role as a higher-volume, more affordable vehicle, as Rivian expands production.
The company reported $2.155 billion in revenue, up 38 per cent year on year, including $605 million from software and subscriptions. It delivered 19,248 vehicles, 45 per cent more than a year earlier, but did not disclose R2 sales figures. Software and services generated $256 million in profit, much of it from Volkswagen technology licensing, while automotive gross profit remained a loss of $80 million. Lower-priced R2 versions are due from late 2026 to late 2027, starting at $55,485.
In short
- R2 outsold Rivian’s other vehicles by volume in Q3.
- Rivian revenue rose 38 per cent to $2.155 billion.
- Software profits and Volkswagen licensing helped support the business.
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The case for
R2 becoming Rivian’s top-selling model suggests the company is making progress towards reaching more buyers with a lower-priced vehicle. Rising deliveries and revenue could support expanded production, while software and licensing income offers another source of growth as the R2 range broadens.
The case against
The milestone is difficult to assess fully because Rivian did not disclose R2 sales figures, and the company’s overall deliveries do not show how much demand the model itself is attracting. Automotive gross profit remained negative, while much of software and services profit came from Volkswagen licensing, so the figures leave open whether R2 sales can deliver durable, profitable growth.
Explained simply
Rivian is a US electric vehicle maker whose first models included the R1T pick-up and R1S sport utility vehicle. It also makes electric delivery vans, and has been expanding production as it seeks to sell more vehicles.
The R2 is a smaller, lower-priced model intended to reach more buyers than Rivian’s earlier vehicles. Rivian has also earned revenue from software and services, including technology licensing to Volkswagen, while its vehicle business has yet to make a gross profit.
The company’s growth matters because it is trying to increase sales while bringing down the cost of making each vehicle. The timing and price of lower-cost R2 versions could affect how widely the model appeals and how Rivian’s finances develop.
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