Polestar Sales Remain Niche But Are Growing

Swedish electric vehicle brand Polestar sold approximately 21,000 vehicles in Q4 2022, bringing the company's preliminary yearly sales estimate to 51,500 units. In other words, Polestar sold nearly the same amount of vehicles in one quarter that itsold in all of 2021(around 29,000). The company still has a long way to reach its goal of 290,000 units by 2025 (a 1,000% increase compared to 2021), but 2022 represented a healthy 80% increase in sales.

Polestar projects a 60% boost in 2023, amounting to approximately 80,000. This significant jump should be achievable based on continuedPolestar 2sales and initial deliveries of the2024 Polestar 3SUV. Polestar has delivered over 100,000examples of its Polestar 2as of November 2022.

"I'm proud of the many milestones we achieved in 2022 and in particular the massive team effort that went into delivering our strongest quarter to date - surpassing our 50,000 global volumes target for the year," says Polestar CEO, Thomas Ingenlath. "We are now fully focused on 2023. There will be the usual quarterly variations, but I'm confident that we will continue to actively manage our supply chain to meet the growing demand for Polestar 2, commence first deliveries of Polestar 3 and launch Polestar 4," asmaller SUV that is gunning after the Porsche Macan.