Rivian Reaffirms 2026 Delivery Guidance After Q3 Beat, Issues R2 Recall
Rivian reaffirmed its 2026 delivery guidance after third-quarter deliveries rose 46% to 19,248 and beat Wall Street estimates. The company also recalled about 14 R2 SUVs over improperly tightened battery-pack fasteners.
CNBC reported that Rivian delivered 19,248 vehicles from July through September, up from 13,201 a year earlier. Analysts expected 18,000 units, according to average estimates compiled by FactSet. The company's 2026 guidance, which it raised earlier this year, is 65,000 to 70,000 vehicles. To reach that target, Rivian would need to increase deliveries from the third quarter to the fourth quarter by at least 20.5 percent, to 23,193 vehicles.
The delivery growth came as Rivian continued to ramp up production of the entry-level R2 SUV, which launched earlier this year as a smaller and less expensive sibling to its flagship R1 SUV. TechCrunch reported that Rivian plans to ship 20,000 to 25,000 R2 vehicles by the end of this year, with deliveries starting in June. If Rivian meets that goal, it would be one of the fastest launches of a new electric vehicle in the U.S. market. The company is adding a second production shift to hit the numbers and has said early demand is strong for the more affordable SUV.
The R2 recall covers about 14 vehicles that may be affected, TechCrunch reported. Rivian said it will repair or replace damaged components on customer vehicles as needed. It is the second recall for the R2. The first, issued last month, concerned the visibility of the backup camera and was addressed with a software update.
In a filing, the National Highway Traffic Safety Administration said Rivian first spotted the defect on September 17. A manufacturing operator at the company's Normal, Illinois, factory noticed one of the fasteners had been under-torqued by an automated station on the assembly line. Rivian investigated and reprogrammed the station to reject improperly torqued fasteners. Rivian told the safety regulator it was not aware of any customer reports, accidents, injuries or fatalities related to the issue.
TechCrunch reported that some Reddit users, along with RivianTrackr, a blog that follows the company closely, wrote about the issue late last month. One owner said Rivian's service department told them to stop driving immediately, and the company towed the vehicle.