Polestar’s retail sales jumped 36% in the three quarters through the end of September to 44,482 units.
Swedish EV maker Polestar (PSNY) on Thursday said that it sold an estimated 14,192 cars in the third quarter, marking a growth of 13% year-on-year.
Overall, Polestar’s retail sales jumped 36% in the three quarters through the end of September to 44,482 units, the EV maker said.
“The third quarter saw continued growth, and we have now sold as many cars as in the whole of 2024. Despite continued external headwinds and challenging market conditions, our line-up and strong order intake provide a solid basis for growth in the fourth quarter,” CEO Michael Lohscheller said.
On Stocktwits, retail sentiment around PSNY stock jumped from ‘bearish’ to ‘bullish’ territory over the past 24 hours, while message volume stayed at ‘normal’ levels.
A Stocktwits user expects the company to hit the target of 30% to 35% compound annual retail sales volume growth from 2025 to 2027.
Polestar’s electric vehicles are available across markets in North America, Europe, and the Asia Pacific. In the U.S., however, electric vehicle sales are now expected to slump in the fourth quarter after the federal tax credit on the purchase of new EVs expired on September 30.
However, Polestar CEO opined last month that the firm expects the U.S. to stay a vital market for the company even after the disappearance of the incentive.
“I also do believe that eventually, the market will price for cost increases, right? I’ve never seen in many, many years in automotive that cost increases have not led to price increases,” Lohscheller said. The U.S. accounted for 8% of the company’s sales in the first half of the year.
For the second quarter, Polestar reported a net loss of $1.027 billion, widened by a $739 million impairment on the Polestar 3 and higher tariff charges.
The company pulled its full-year guidance in April due to tariff uncertainty and said that it will resume forecasts once it assesses the impact of tariff and regulatory changes. The firm is now expected to report its third-quarter earnings on November 12.
PSNY stock is down by 16% this year and by about 42% over the past 12 months.
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