Rivian’s electric SUV continues attracting recent buyers in the US. In the first three months of the 12 months, the Rivian R1S became the fourth best-selling EV in the US, topping Hyundai’s IONIQ 5 and the Volkswagen ID.4.
Rivian R1S continues climbing US EV sales charts in Q1
In 2023, Rivian’s R1S became the seventh best-selling EV in the US after beating out the Ford F-150 Lightning and Tesla Model X.
Rivian sold 24,783 electric SUVs in 2023, topping the Ford Lightning (24,165) and Tesla Model X (23,015). The R1S just isn’t slowing down, climbing to fourth place in the first quarter of the US EV market.
In the first three months of the 12 months, Rivian delivered 13,588 vehicles. According to Kelley Blue Book data, the company’s electric SUV accounted for the majority of sales.
Rivian sold 8,017 R1S models in Q1 2024, enough to top Hyundai’s IONIQ 5 (6,822) and Volkswagen ID.4 (6,167).
The R1S was only behind the Ford Mustang Mach-E (9,589), Tesla Model 3 (30,842), and Tesla Model Y (96,729) in the US EV market.
| Rank | Top 10 best-selling EVs of Q1 2024 | 2023 sales | Q1 2024 sales | Q1 2024 US market share |
| 1 | Tesla Model Y | 394,497 | 96,729 | 35.4% |
| 2 | Tesla Model 3 | 220,910 | 30,842 | 11.3% |
| 3 | Ford Mustang Mach-E | 40,771 | 9,589 | 3.5% |
| 4 | Rivian R1S | 24,783 | 8,017 | 2.9% |
| 5 | Ford F-150 Lightning | 24,165 | 7,743 | 2.8% |
| 6 | Chevy Bolt EV/ EUV | 62,045 | 7,040 | 2.6% |
| 7 | Hyundai IONIQ 5 | 33,918 | 6,822 | 2.5% |
| 8 | Volkswagen ID.4 | 37,789 | 6,167 | 2.3% |
| 9 | Cadillac Lyriq | 9,154 | 5,800 | 2.1% |
| 10 | Tesla Model X | 23,015 | 5,607 | 2.1% |
Rivian officially shut down production at its Normal, IL manufacturing plant because it prepares to introduce recent tech and processes to cut costs and streamline production.
As a result, Rivian expects production to remain flat at around 57,000 this 12 months. The automaker is preparing for its next wave of growth after unveiling the cheaper R2 electric SUV last month.
With prices starting at around $45,000, Rivian sees a chance in the market. CEO RJ Scaringe said, “The R2 being at $45,000 is something that the vast majority of the population can look at as an option.”
He added, “There’s a lack of choice, we believe, in that price category for really nicely done EVs.”
Scaringe announced the R2 garnered over 68,000 reservations in lower than 24 hours as Rivian looks to expand the brand.
Rivian will begin constructing the R2 in Normal in the first half of 2026. It can be followed by even smaller and cheaper R3 and R3X models.”
“We’re anticipating many hundreds of thousands of units of demand, ideally over a million units of demand across the globe,” Scaringe explained.
Electrek’s Take
Rivian continues gaining market share in the US because it prepares for its next growth phase. The R1S is already successful.
A lower-priced R2 will help Rivian reach recent markets. The EV maker has already established itself as a real luxury electric automobile competitor, and with cheaper models on the way, Rivian expects to proceed the trend.
Other brands which have failed to sustain with the EV transition thus far, like Jeep, are scrambling to launch recent electric SUV models in the US as sales proceed sliding.
I’m interested to see how the top ten list will look over the next 12 months, with recent EVs rolling out, like the Volvo EX30, Kia EV9, Chevy Blazer EV, Chevy Equinox EV, Honda Prologue, and a number of other others.
What are your thoughts? What electric models can be on the list at the end of the 12 months? Let us know in the comments.
Credit : electrek.co
