Rivian Automotive Inc. produced 5,979 electric vehicles in the second quarter, about half of Wall Street's expectations of over 11,300. The production was intentionally limited to prevent excess output of 2025 models ahead of the new 2026 model year releases. Rivian delivered 10,661 vehicles during the quarter, slightly under the expected 10,910 deliveries. The company aims for a total delivery of 46,000 vehicles this year, compared to over 51,000 in the previous year, indicating a decline in annual sales. Additionally, a month-long production halt is planned to ready the factory for the R2 midsize SUV launch next year.
Rivian Automotive Inc. produced about half as many electric vehicles as Wall Street expected in the second quarter, assembling 5,979 vehicles in line with its outlook.
Analysts had expected the company to make more than 11,300 vehicles, highlighting a significant shortfall in production.
The company reaffirmed its goal to deliver as many as 46,000 EVs to customers this year, marking its first decline in annual sales.
Output will slow again later this year due to a planned month-long production halt to prepare for the upcoming R2 midsize SUV.
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