Home / Business and Economy / Rivian Soars 20% After Beating Q3 Expectations, Citing Tax Credit Rush
Rivian Soars 20% After Beating Q3 Expectations, Citing Tax Credit Rush
16 Nov
Summary
- Rivian's Q3 revenue jumped 78% to $1.6 billion
- Deliveries hit 13,201, the highest for the year
- Tariff costs to drop from $2,000 to just "a few hundred dollars per unit"
In the third quarter of 2025, Rivian Automotive (NASDAQ: RIVN) reported results that exceeded analysts' expectations, sending the company's stock soaring by more than 20%. The electric vehicle (EV) maker saw its consolidated revenue jump 78% to around $1.6 billion, driven by a 47% increase in automotive revenue to $1.1 billion.
Rivian's management attributed the revenue growth to a combination of increased vehicle deliveries and higher average selling prices. However, they noted that part of the sales surge was also due to customers rushing to purchase vehicles before the EV tax credits expired at the end of September. While Rivian's EVs were too expensive to directly qualify for the credits, some customers were able to take advantage of leasing loopholes.
Looking ahead, Rivian's management said they do not expect to have meaningful revenue from the sale of regulatory credits going forward, as they have "taken those out of [their] forecast." The company also revealed that its Q3 deliveries of 13,201 vehicles will be its highest for the year.
Another positive development for Rivian is the recent policy change that allows vehicles built in the U.S. to receive a partial credit to offset some of the tariffs. The company's chief financial officer, Claire McDonough, stated that the previous tariff impact on each vehicle in the third quarter was just under $2,000, but this will now be reduced to "just a few hundred dollars per unit" for its new builds.
