Rivian R1S climbs to fourth best-selling EV in the US in Q1, tops Hyundai IONIQ 5, VW ID.4

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Rivian’s electric SUV continues attracting new buyers in the US. In the first three months of the year, 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 is not slowing down, climbing to fourth place in the first quarter of the US EV market.

In the first three months of the year, 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%
Top 10 best-selling EVs in Q1 2024 (Source: Kelley Blue Book)

Rivian officially shut down production at its Normal, IL manufacturing plant as it prepares to introduce new tech and processes to cut costs and streamline production.

As a result, Rivian expects production to remain flat at around 57,000 this year. The automaker is preparing for its next wave of growth after unveiling the more affordable R2 electric SUV last month.

Rivian-R2
Rivian R2 (Source: Rivian)

With prices starting at around $45,000, Rivian sees an opportunity 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 less than 24 hours as Rivian looks to expand the brand.

Rivian-R1S-US-EV
Rivian family. From left to right R1T, R1S, R2, R3, R3X (Source: Rivian)

Rivian will begin building the R2 in Normal in the first half of 2026. It will be followed by even smaller and more affordable 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.

Rivian-R1S-US-EV
Rivian R1S production (Source: Rivian)

Electrek’s Take

Rivian continues gaining market share in the US as it prepares for its next growth phase. The R1S is already a hit.

A lower-priced R2 will help Rivian reach new markets. The EV maker has already established itself as a true luxury electric car competitor, and with more affordable models on the way, Rivian expects to continue the trend.

Other brands that have failed to keep up with the EV transition so far, like Jeep, are scrambling to launch new electric SUV models in the US as sales continue sliding.

I’m interested to see how the top ten list will look over the next year, with new EVs rolling out, like the Volvo EX30, Kia EV9, Chevy Blazer EV, Chevy Equinox EV, Honda Prologue, and several others.

What are your thoughts? What electric models will be on the list at the end of the year? Let us know in the comments.

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