Almost a month after EV reported that Rivian increased leasing prices for the 2026 R1 models, the company’s website showed this Friday that leasing prices have been cut for the standard variants.
This means that leasing costs are no longer up across all the trims alongside the full purchase prices of the two models, which were raised by as much as $1,090, as the Irvine-based EV maker struggles with weak demand.
According to post by X user Hilbe, customers can lease the Standard version of the R1T pick-up from $811 per month, down from $844, while the entry-level R1S’s leasing prices declined by $62 to $811.
The 2026 R1S Dual-Motor Standard variant is priced at $76,990, while the 2026 R1T pickup begins at $70,990, with destination charge for 2026 models up to $1,895 per vehicle.
The recently launched second-gen Quad-motor R1T can be leased from $1,819 per month, while the R1S Quad starts from $1,949 per month.
R1T pricing for the Gen 2 Quad begins at $115,990 in the United States, while the R1S starts at $121,990. The Launch Edition models, which include additional features and exclusive design options, are $4,000 up in pricing.
In late June, the EV maker had cut lease prices by $200 as part of a final push to drive second-quarter sales. Rivian delivered 10,661 electric vehicles in the second quarter, a drop of 22.7% year over year.
According to Cox Automotive, the second quarter figures included sales of 7,898 R1 consumer models and 2,701 commercial electric vans. Combined numbers of the R1T and R1S fell 31% year over year.
The EV maker reiterated that it expects annual delivery figures to range between 40,000 and 46,000 vehicles, indicating it estimates to deliver between 20,699 and 26,699 in the second half of the year.
This means that Rivian expects to deliver less vehicles in 2025 than it did in 2024 and 2023.
Earlier this week, as it reported its second quarter financial results, the company said it expects the third quarter to be the strongest of the year.
“We anticipate the third quarter to be our peak delivery quarter of the year across both our consumer and commercial vehicles,” the brand stated on a shareholder letter, which was then reaffirmed by CEO RJ Scaringe on the earnings call that followed the report.
Earlier on Friday, Tesla increased leasing prices on its entry-level Model Y, from $349 per month to $399 per month.
CEO Elon Musk had revealed on the company’s earnings call in late July that the company is bracing for “rough quarters ahead,” as several EV makers now battle the loss of incentives and the impact of US tariffs on imported vehicles.
