TLDR
- Rivian delivered 12,194 vehicles in Q2 2026, beating the Wall Street consensus of ~11,000 units
- The company raised its full-year 2026 delivery guidance to 65,000–70,000 vehicles, up from 62,000–67,000
- Rivian stock jumped over 13% on Thursday following the news
- Lucid missed Q2 delivery expectations with 3,953 deliveries vs. the expected 5,000, and its new CEO announced a leadership overhaul
- Tesla beat Q2 expectations with 480,126 deliveries, well above the analyst forecast of ~406,000
Rivian stock was up roughly 13% on Thursday, trading near $19.46, after the EV maker reported stronger-than-expected second-quarter deliveries and lifted its full-year guidance.
Rivian delivered 12,194 vehicles in Q2 2026, up from 10,661 in the same period last year and above the FactSet consensus of around 11,000 units. The company also produced 12,613 vehicles during the quarter.
The better numbers were driven by demand for its electric delivery van and flagship R1 products. Rivian also began delivering its midsize R2 SUV during the quarter, ramping production at its Normal, Illinois plant, which has a capacity of 160,000 vehicles annually.
Rivian delivered 12,194 vehicles in Q2, beating its prior outlook of 9K to 11K$RIVN also RAISED 2026 delivery guidance to 65,000 to 70,000 vehicles, up from 62,000 to 67,000.
The beat was driven by growth in EDV and R1 vehicles, along with the start of R2 deliveries. pic.twitter.com/ZFSb2QR74Q
— Wall St Engine (@wallstengine) July 2, 2026
With the Q2 beat in hand, Rivian raised its 2026 delivery guidance to between 65,000 and 70,000 units, up from the prior range of 62,000 to 67,000. Wall Street had been projecting around 64,000 for the year.
Full second-quarter financial results are due on July 30.
Lucid Misses, New CEO Shakes Up Leadership
It was a different story over at Lucid. The company reported producing 4,774 vehicles and delivering just 3,953 in Q2, falling short of the Wall Street estimate of 5,000 units.
New CEO Silvio Napoli, who took over in June, used the delivery report as a moment to announce a restructuring of the company’s leadership team. The stated goal is to simplify the org structure and cut the number of direct reports to the CEO in half.
CFO Taoufiq Boussaid is leaving the company. His replacement, Alexander De Bock, comes from automotive supplier TI Automotive. Napoli said the changes are aimed at focusing on “customers, quality, and innovation.”
Lucid stock slipped around 1% on Thursday.
EV Market Context
Part of Rivian’s stronger demand has been linked to rising gas prices. Benchmark prices hit $4.60 a gallon in May, up about $1.60 after the conflict in Iran disrupted global oil supplies.
That tailwind hasn’t lifted everyone equally. General Motors reported roughly 29,000 EV sales in Q2, down 37% year over year. GM sells through dealerships, so there may be a lag compared to Rivian and Tesla, which sell directly to consumers.
Tesla reported 480,126 deliveries in Q2, well above the ~406,000 Wall Street had expected. The Model 3 and Model Y accounted for 467,762 of those.
The federal $7,500 EV tax credit was removed in September, which has kept a ceiling on broader EV adoption. Overall EV penetration of new U.S. car sales remains between roughly 5% and 10%.
Coming into Thursday, Rivian stock had fallen 13% year-to-date but gained 33% over the past 12 months.
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