Rivian’s year-end production and delivery figures for December 2025 reveal a sharp downturn compared with the same month in 2024. The company manufactured 10,974 vehicles in December 2025, down from 12,727 a year earlier, and delivered 9,745 units versus 14,183 in December 2024. This reversal follows a one-time surge tied to the rush to claim the expiring U.S. EV tax credit and underscores the challenge Rivian faces in sustaining demand without federal incentives.

Despite a reported 78% year-over-year revenue increase in the third quarter of 2025, Rivian continues to operate at a net loss as it scales production and invests in new model launches. The company’s gross margin remained deeply negative at –159% for the trailing twelve months, reflecting elevated manufacturing costs and R&D spending. However, partnerships—such as the software and services agreement with Volkswagen—have begun to contribute to non-vehicle revenue streams, and management projects that operational improvements will narrow losses as production volumes rise toward 155,000 units annually in 2026.

Rivian is set to debut its R2 midsize SUV fleet in 2026 with a starting price near $45,000, representing the company’s first foray into the mainstream EV market. The R2 lineup will feature bidirectional charging technology and leverage Rivian’s vertically integrated manufacturing platform. Analysts view the R2 introduction as the key catalyst for recapturing market share from entrenched electric-vehicle competitors, and the company’s full-year 2025 financial results—due February 12, 2026—will be closely watched for margin improvements tied to the R2 production ramp.