Overview

• Rivian delivered 13,201 vehicles in Q3, up 32% year over year and above analyst estimates.
• Factory output trailed demand with 10,720 vehicles produced in the quarter.
• Full‑year delivery guidance tightened to 41,500–43,500 units, signaling a softer fourth quarter versus last year’s 14,183 deliveries.
• The $7,500 federal EV tax credit ended on Oct. 1, removing a key price lever as higher tariffs on imported parts add cost and demand uncertainty.
• Rivian plans to start building the roughly $45,000 R2 SUV in early 2026, with investors awaiting Nov. 4 earnings for order and margin updates and analysts cautioning that 2026 demand could remain weak.