The Swedish electric performance car brand Polestar reported its global deliveries for the fourth quarter of 2023.
Polestar delivered approximately 12,800 cars in the fourth quarter, including 880 Polestar 4 in China, taking its global deliveries for the year to approximately 54,600 cars, a growth of 6% compared to 2022, but falling short of the annual target of 60,000 electric vehicles.
Polestar initially planned to sell 80,000 electric vehicles in 2023, and later updated the guidance to 60,000. In 2022, the company delivered to customers about 51,500 vehicles to customers in 2022.
Polestar continues to protect its exclusive brand position in what remains a challenging market, resulting in fewer deliveries in the fourth quarter and now expects a gross profit margin for the full year of around break-even.
Thomas Ingenlath, Polestar CEO, comments: “Polestar 4 has been very well received in China and ramping up production was an important milestone for us. Sales of our SUV coupe will start in Europe and Australia in the coming weeks. With the first deliveries of Polestar 3 expected in the summer, our shift from being a one to three-car company positions us for a transformative and exciting 2024.”
Polestar expects to post its preliminary unaudited financial and operational results for the full year 2023 on Thursday, 29 February 2024, before market open in New York.
