Polestar optimistic for 2025 after strong end to 2024
Polestar expects to capitalise on its strong sales performance in the final quarter of 2024 as it heads into 2025 with a strong order bank.
The final quarter of 2024 saw the EV-only Swedish manufacturer deliver a total of 12,256 cars; a 5.3% year-on-year increase compared to the 11,640 units sold in 2023. Furthermore, Q4 2024 saw Polestar orders increase to 37.2% over the previous year.
Throughout 2024, Polestar orders were up by 37.9% on 2023. The brand’s CEO, Michael Loscheller, believes that the diversification of its line-up with the 2024 arrival of the full-sized Polestar 3 SUV and the Polestar 4 SUV-coupe contributed to the upswing in consumer interest.
“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,” commented Loscheller.
Until the arrival of the 3 and the 4, the only model in Polestar’s line-up was the Polestar 2 compact executive fastback. The Polestar 2 has been on sale since 2020, but underwent a significant mid-life refresh in 2024 with an updated drivetrain and front end.
The Polestar 3 and Polestar 4 comprised 56% of all orders during Q4 of 2024. Later this year the striking Polestar 5 four-door GT will hit the roads, followed in 2026 by the Polestar 6 roadster.
Despite the positive numbers from Q4 2024, Polestar’s overall performance slipped last year. The Geely-backed brand sold 44,851 vehicles throughout the year; a 15% decrease on the 52,796 in 2023. In 2024, Polestar amended its definition of global volumes, with the new definition being retail sales representing sales to end customers. This pivot in strategy underlines the brand’s commitment to transparency within the EV sector.
