In December 2025 Rivian produced 10,974 vehicles and delivered 9,745 units, down from 12,727 produced and 14,183 delivered in December 2024. This represents a 13.7% decline in production and a 31.3% drop in deliveries year over year. The sharp pullback follows a fourth-quarter surge in third-quarter revenue, which grew 78% year over year as customers accelerated orders before the expiration of the U.S. EV tax credit. With that incentive now expired, Rivian faces a significant slowdown in demand for its luxury trucks and SUVs.

Rivian plans to introduce its more affordable midsize R2 electric SUV lineup in early 2026, with a starting price around $45,000. This marks the company's first move beyond its high-end R1 series of trucks and SUVs. The R2 platform includes bidirectional charging capability, enabling vehicle-to-home and vehicle-to-grid applications. Management projects annual production capacity could rise to 155,000 vehicles by the end of 2026 if initial consumer response matches internal forecasts.

Despite a 46% stock rally in 2025, Rivian remains unprofitable, reporting a gross margin of negative 159% as of the third quarter. The company expects to announce fourth-quarter and full-year results on February 12, 2026. Rivian's partnership with Volkswagen for software and services has generated positive free cash flow in that segment, helping offset manufacturing losses. Management has flagged continued volatility in quarterly results but affirms plans to achieve positive automotive gross margins by late 2026 as production volumes ramp and vertical integration efficiencies take hold.