Rivian Automotive reported first-quarter vehicle deliveries above analysts’ expectations, suggesting stabilizing demand for its electric pickup trucks and sport utility vehicles following a slowdown last year.
The company delivered 10,365 vehicles between January and March, exceeding estimates of 9,678 units compiled by Visible Alpha. Rivian also reiterated its full-year delivery forecast of between 62,000 and 67,000 vehicles.
Production in the first quarter reached 10,236 vehicles, also above analyst expectations of 9,852 units.
Rivian’s performance follows a decline in deliveries in the fourth quarter of last year, when the expiration of a $7,500 U.S. federal electric vehicle tax credit reduced incentives for buyers and contributed to higher effective prices.
Analysts said rising gasoline prices since February, following the start of tensions linked to the Iran conflict, could support renewed consumer interest in electric vehicles, potentially benefiting automakers including Rivian and Tesla.
Rivian’s current lineup includes the R1T pickup and R1S sport utility vehicle, which remain its core products as it works to stabilize demand and improve production efficiency.
Separately, Rivian is preparing to expand its product portfolio with the introduction of its R2 electric SUV. The company said in March that the first variant, the R2 Performance with Launch Package, will start at $57,990, with U.S. deliveries expected in spring 2026 and Canadian deliveries planned for 2027.
Rivian added that the R2 has been designed for higher-volume production, with its manufacturing facility expected to support annual capacity of up to 155,000 units, as the company targets a broader segment of the electric vehicle market.