Polestar Reports Fourth Quarter and Full-Year Sales Performance for 2024
Polestar the Swedish electric performance car manufacturer, announced its retail sales figures for the fourth quarter of 2024 and the full year. The company reported Fourth Quarter retail sales of 12,256 cars in Q4 2024, marking a 5.3% increase compared to the 11,640 cars sold in Q4 2023. Despite the positive quarterly performance, full-year retail sales for 2024 totaled 44,851 cars, reflecting a 15% decrease compared to 52,796 cars sold in 2023.
The company also highlighted a significant increase in order intake, with Q4 2024 orders rising 37.2% compared to Q4 2023. Additionally, order intake for the full year of 2024 grew by 37.9%Fourth Quarter compared to the previous year. Polestar’s CEO, Michael Lohscheller, expressed optimism about these results, stating: “The changes being made to our commercial operations are clearly having a positive impact, as we saw a 5.3% increase in retail sales and a 37.2% increase in order intake compared to the same quarter last year, creating a strong momentum as we enter 2025.
Quarterly and Yearly Retail Sales Breakdown
| Period | Retail Sales (2024) | Retail Sales (2023) | Change (%) |
|---|---|---|---|
| Q4 | 12,256 | 11,640 | +5.3% |
| Full Year | 44,851 | 52,796 | -15% |
These results underscore a notable shift in Polestar’s Fourth Quarter operational strategy, as the company continues to refine its commercial and sales processes to align more closely with industry conventions and market expectations.
Revised Definition of Global Volumes
To provide greater clarity and transparency, Fourth Quarter Polestar has updated its definition of global volumes. The new definition, now referred to as “retail sales,” represents sales to end customers. This adjustment is intended to align Polestar’s reporting with industry standards and facilitate more meaningful comparisons with competitors.
Adjusted Historical Figures
The revised definition has resulted in changes to previously reported sales figures. For example, Q4 2023 sales were recalibrated to 11,641 under the new definition, compared to 12,782 under the prior methodology. Similarly, FY 2023 Fourth Quarter sales were adjusted to 52,798 from the originally reported 54,626. The table below illustrates the impact of this restatement:
| Period | New Definition (Retail Sales) | Previous Definition |
| Q4 2022 | 20,243 | 21,067 |
| FY 2022 | 50,510 | 51,491 |
| Q4 2023 | 11,641 | 12,782 |
| FY 2023 | 52,798 | 54,626 |
| Q4 2024 | 12,256 | 12,277 |
| FY 2024 | 44,851 | 44,458 |
This new reporting approach includes sales across all channels and markets, encompassing various types of transactions such as fleet, retail, rental, and leaseholder channels. The updated methodology ensures consistency and enhances comparability with peers in the electric vehicle (EV) sector.
Strategic Updates and Future Outlook
Polestar is set to provide further insights into its business and strategy during a webcast scheduled for January 16, 2025. The company plans to present key financial metrics, Fourth Quarter operational highlights, and strategic initiatives. Verified shareholders will have the opportunity to engage with management and ask questions via the Say Technologies platform.
Polestar’s Global Presence and Ambitions
Headquartered in Gothenburg, Sweden, Polestar operates in 27 markets worldwide, including North America, Europe, and the Asia-Pacific region. The company is planning to expand into additional markets in 2025, further solidifying its global footprint.
Polestar currently offers three models:
- Polestar 2 – An electric performance fastback.
- Polestar 3 – An electric SUV designed for the modern era.
- Polestar 4 – A sleek SUV coupé.
The company aims to launch two additional models by 2026:
- Polestar 5 – An electric four-door GT.
- Polestar 6 – An electric roadster.
These models represent Polestar’s commitment to delivering a diverse range of high-performance electric vehicles.
Commitment to Sustainability
Sustainability remains at the core of Polestar’s mission. The company’s ambitious Polestar 0 project aims to create a truly climate-neutral production car by 2030. This initiative challenges employees, suppliers, and the broader automotive industry to accelerate progress toward net-zero emissions. By leveraging cutting-edge design and technology, Polestar is determined to lead the shift to sustainable mobility.
Despite a decline in full-year retail sales for 2024, Polestar’s Fourth Quarter Q4 performance and robust growth in order intake signal a positive trajectory as the company enters 2025. With a sharpened focus on operational excellence, a commitment to sustainability, and an expanding global presence, Polestar is well-positioned to compete in the rapidly evolving electric vehicle market. The company’s ongoing efforts to refine its commercial operations and broaden its product portfolio underscore its determination to drive sustainable innovation in the automotive industry.
