Nearly two weeks after its most recent lease price update, Rivian adjusted the monthly fees on Tuesday for the Standard and Trimotor versions of its both R1 vehicles before the $7,500 EV tax credit ends on September 30.
Last month, as it reported its second quarter financial results, the company said it expects the third quarter to be the strongest of the year.
Demand for electric vehicles in the US has surged this quarter, with the EV tax credits expiring by the end of September.
In August, leasing prices were cut for the standard variants of the 2026 R1 models, after a price spike in the prior month.
A month later, prices for the Standard version of the R1S was raised from $811 to $831 per month.
Prices were now raised again by $20 to $851, as first reported by Rivian owner and X user Chris Hilbert.
The entry-level R1T’s leasing prices were also increased from $834 to $854.
The recently launched second-gen Quad-motor R1T can be leased from $1,809 per month, while the R1S Quad starts from $1,850 per month — also increased from $51 to $60 earlier this month.
The 2026 R1S Dual-Motor Standard variant had its leasing price cut by $20 to $899, while the Dual-Motor R1T remained at $879 per month.
While both the R1T Tri and R1S Tri initially kept the same leasing prices as last month — $1299 and $1369 per month, respectively — Rivian has now cut their monthly fees by $70. The R1S can be leased from $1,299 per month, while the R1T costs $1,229.
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 Motor Intelligence data estimates, Rivian sold 4,200 vehicles in July and 4,825 in August. The figures show an increase month over month since June. However, sales remain below the respective period a year ago.
The EV maker expects annual delivery figures to range between 40,000 and 46,000 vehicles — less vehicles than it delivered in 2024 and 2023.
EV makers in the United States are dealing with the termination of the EV tax credit by the end of the third quarter.
While most R1 model purchases do not qualify for the tax credit, as the final vehicle price typically exceeds the $80,000 limit, Rivian is focused on promoting the state incentive when it comes to leasing contracts.
The standard versions of both the R1S SUV and the R1T pickup truck remain priced below this threshold, despite slight price increases in its 2026 versions.
