Electric vehicle maker Rivian said on Wednesday its second quarter vehicle deliveries fell 22.7% year on year to 10,661 units.
Rivian reiterated its 2025 delivery guidance and expects 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.
The company produced 5,979 vehicles in the same period, down 37.8% from the 9,612 EVs manufactured a year ago.
Rivian had produced 14,611 vehicles and delivered 8,640 units globally in the first quarter.
Rivian noted that “production was limited during the second quarter in preparation for model year 2026 vehicles expected to launch later this month.”
Priced from $45,000, the R2 is scheduled to arrive in the first half of 2026. Analyst Vijay Rakesh of Mizuho said in a recent note that pilot production has begun, and that Rivian expects to open order books early next year.
“Production and delivery results for the quarter are in line with Rivian’s outlook,” the company said in a statement.
Rivian said it received a $1 billion equity investment from Volkswagen Group at an effective price of $19.42 as part of the $5.8 billion agreement associated with the joint venrture announced last year.
The company will report its second quarter financial results on August 5, after market close.
The company sold 3,496 vehicles in the United States in June, marking a 5.2% drop from May,
According to new data from Motor Intelligence, the June total also represents a 27.6% decline compared with the same month a year earlier, when Rivian had registered 4,826 vehicles.
One week before the end of the quarter, Rivian sharply reduced lease pricing for its R1T electric pickup and R1S SUV models, as the company prepares to launch updated 2026 versions later this summer.
On June 23, its website listed lease payments starting at $566 per month for the entry-level R1T Dual Standard model — a $213 drop from earlier offers. The R1S received a $223 reduction.
In early May, Rivian cut its 2025 delivery guidance to between 40,000 and 46,000 vehicles, down from a previous range of 46,000 to 51,000 units.
The prior outlook already implied a decline from the 50,122 vehicles delivered in 2024.
In the same week it adjusted pricing, the company laid off roughly 140 employees, or about 1% of its workforce, in a move to streamline operations ahead of the launch of its more affordable R2 mid-size SUV.
The layoff was the third one in the last 18 months.
