Rivian has revised its incentives for the R1T pickup and R1S SUV, as demand for its flagship models slows ahead of the upcoming R2 launch.
The brand’s portfolio includes the 2026 R1S SUV — priced from $76,990 — and the 2026 R1T pickup, starting at $72,990.
The mid-size SUV R2, however, will have a much lower entry-level price, starting from $45,000, allowing Rivian to enter a more affordable segment and increase demand for its lineup.
The company has confirmed throughout the past months that the model will launch with a higher priced, dual-motor variant.
According to the founder and CEO RJ Scaringe, the $45,000 trim will be launched “shortly thereafter.”
Rivian is scheduled to”share full details” for the model, including specs and pricing, on March 12.
Leasing Prices
Rivian increased leasing prices for its 2026 R1S and R1T models on 36-month contracts in the first two months of the year.
The Dual Standard trim saw an increase of about $100, bringing monthly payments to $909 for the R1S and $879 for the R1T.
Starting from Tuesday, the company is offering a $749 monthly rate on any R1 Dual Standard leasing contract signed until March 20.
According to Rivian’s website, a limited-time 36-month lease offer was available across all versions of the 2026 R1 models through March 4.
Although the promotion previously listed March 19 as the deadline for lease approval, the offer has since been withdrawn, with a footnote indicating it had limited availability.
Last month, the monthly payments for Dual trims rose to $1,069 per month, while Tri-motor variants increased by roughly $200, reaching around $1,450 per month.
The Quad trims’ estimated leasing prices remained the same — with the R1S at $1,929 per month and the R1T at $1,899 per month.
Lower Financing Rates
In the first two months of the year, Rivian ran a 0% APR offer on 60-month leasing contracts for the 2026 Dual Performance, with Large or Max batteries, and all Tri-motor variants of both R1 models.
The discount also applied to the Quad trims — marking the first time the EV maker introduced the offer for its flagship quad-motor vehicles.
From Tuesday onward, the financing rate increased to 1.99%.
According to the new offer’s terms, customers must have financing approved by March 19 and take delivery of the vehicle by March 31.
Special Discounts
Throughout February, the company offered special discounts on certain R1 models for customers qualified for 24- or 36-month financing contracts.
Until March 4, those financing the R1T and R1S Dual models (with Large or Max batteries or with the Performance upgrade) received $6,500 off the amount due at signing, while those opting for the Dual Standard models will get $1,500 off at signing.
While the $6,500 offer for Dual motors was renewed for March, the discount for Dual Standard purchases has doubled to $3,000.
Additionally, the company continues to offer the ‘Stealth Package’ with R1S Dual Motor purchases, allowing customers to save up to $1,800.
The package includes XPEL Stealth Paint Protection, Darkout accents, and 22” Sport wheels in Dark or Bright, and is available in ‘El Cap Granite’ or ‘Midnight’ paint colors.
Sales Results and Outlook
Last month, Rivian sold 2,700 vehicles in the US, a slight increase from January but a 34.1% drop from a year ago.
The figures extended the year-over-year decline that started in December, which followed positive results in both October and November — despite the EV tax credit termination on September 30 that led the overall EV industry to decline.
Rivian expects to deliver between 62,000 and 67,000 vehicles this year.
Of those, roughly 20,000 to 25,000 units are estimated to correspond to the new R2, as production ramps up at the Normal factory.
The company’s management admitted in the latest earnings call that sales for the R1 models and the electric delivery van (EDV) are likely to remain flat in 2026.
“On a full-year basis, you can think about the R1 coupled with the commercial van being roughly in line with our 2025 total volumes,” the company’s CFO Claire McDonough said in the latest earnings call.
