Rivian outperformed third-quarter expectations, reporting $2.16 billion in revenue, a 38 percent increase year over year, topping consensus estimates of $1.99 billion. The outperformance was driven by robust demand for its new R2 SUV, which began deliveries in June.
The company narrowed its adjusted loss to $0.48 per share, better than analyst projections of a $0.56 loss. Rivian raised its full-year 2026 delivery outlook to 67,000–70,000 vehicles, up from 65,000–70,000, and narrowed its adjusted core loss guidance by $100 million at the midpoint. Capital expenditure guidance was lowered to $1.4 billion–$1.5 billion.
Rivian added a second shift at its Illinois plant to meet R2 demand, with the SUV expected to constitute the majority of total delivery volume in the fourth quarter. CEO RJ Scaringe said the company remains on track to achieve an autonomy milestone by year-end, which would unlock a $250 million tranche of Uber's previously announced investment. The Volkswagen joint venture contributed significant software revenue in the quarter, with its first EV incorporating Rivian technology set for a European launch next year.
Tesla's robotaxi fleet in Texas now numbers 1,051 authorized vehicles, according to data from the Texas Department of Motor Vehicles. The fleet composition has shifted markedly: 544 purpose-built Cybercabs now outnumber 507 Model Ys, reversing the balance from earlier in October when Model Ys dominated. Tesla stock closed at $399.81, down 0.9 percent.
Italy signaled support for broader European Union approval of Tesla's Full Self-Driving software. While some EU countries have already approved FSD, full EU-wide approval remains pending, with Tesla targeting early 2027 for that milestone.
Ford's CEO Jim Farley expressed strong satisfaction with testing of the company's upcoming sub-$30,000 Fathom midsize electric pickup, highlighting the vehicle's capabilities and low cost of ownership. The Fathom remains on schedule for a late-2027 launch. Ford is advancing production of large aluminum unicastings and developing a bidirectional charging system designed to reduce home-power costs for owners.
Ford reiterated its longer-term EV targets, aiming for its Model e unit to reach breakeven by 2029. In Q3 2026, Model e reported an adjusted EBIT loss of approximately $1.06 billion–$1.1 billion on $1.2 billion in revenue, a roughly 25 percent improvement from the $1.41 billion loss in the year-ago quarter.
General Motors is exploring hybrid versions of its high-volume three-row SUVs for the U.S. market, with specific development targets including the Chevrolet Traverse and Buick Enclave.
