Rivian Q3: $2.16B Revenue as the Cheaper R2 Takes Over

Rivian Q3 Earnings

Record deliveries, a raised forecast and an R2 sales lead

Rivian built 19,751 vehicles and delivered 19,248 in the third quarter. Both are company records, and deliveries jumped 46% from a year ago. Revenue came in at about $2.16 billion against analyst forecasts near $2.02 billion.

The big change is the mix. For years Rivian was a company of $70,000-plus trucks and SUVs. Now the R2, the smaller SUV it pitched as its mass-market play, is its top seller. That matters because volume is the only cure for Rivian’s cost problem.

And the problem is real. Rivian still lost $913 million in the quarter and burned $1.12 billion in free cash flow. Its car business ran an $80 million gross loss, a worse margin than in the spring. Strip out $81 million of regulatory credit sales and that gap looks wider still.

Still, the trend is moving the right way. The adjusted loss per share was $0.48, much better than the $0.61 analysts expected. Software and services revenue rose 45% to $605 million, and more than half of that came from Rivian’s joint venture with Volkswagen. Think of VW as a silent partner paying Rivian’s tuition while the R2 learns to walk.

Rivian also nudged its 2026 delivery target up to 67,000–70,000 and trimmed planned spending by about $300 million. It has $5.5 billion in cash and short-term investments to bridge the gap to profit.

Why it matters to you: a healthier Rivian means the R2 sticks around, gets updates and holds its value better. Rivian says buyers are taking its Autonomy+ driver-assist package faster than planned, and it has an Autonomy and AI Day set for December 9. If you are cross-shopping a Tesla Model Y, that event is worth watching before you sign anything.

Electric Vans

Rivian’s delivery van gets AWD and about 30% more range

The biggest Rivian van, the EDV 700, now comes with a 129 kWh LFP battery instead of 100 kWh, plus a new dual-motor AWD option. Rivian claims roughly 30% more range, and deliveries started in early October. It is the van’s first major hardware upgrade since 2021, aimed at longer rural routes. The smaller EDV 500 stays as it is.

Ford Recall

102,159 Ford pickups may show the wrong speed

Ford is recalling 2025–2026 Super Duty and medium-duty trucks, from the F-250 to the F-750, plus the 2026 F-150. The speedometer and tachometer needles can stick and show false readings. Owner letters went out October 26; Ford expects a free dealer fix in December and will send a second notice then.

General Motors

GM swaps the NYSE for the tech-heavy Nasdaq

GM will move its stock listing from the New York Stock Exchange to the Nasdaq starting November 17. MarkLines calls it the first legacy automaker to make the jump. It is a symbolic play: GM wants investors to see a software and EV company, not just a truck maker.

Mitsubishi Pajero

The all-new Pajero goes on sale in Japan on December 17

Mitsubishi’s off-road icon is back with four trims: the plush Super Exceed and Exceed, and the tougher GSR and GLS. Prices run from ¥6.19 million to ¥7.95 million. For East African buyers, who have long relied on Japanese 4x4s, the key question is when it reaches other markets. Mitsubishi has not said yet.