Polestar, the Swedish electric performance car brand, announced its 2024 sales figures, revealing a 15% decline compared to the previous year.
While annual retail sales dipped from 52,796 vehicles in 2023 to 44,851 in 2024, the company remains optimistic.
The year 2024 was marked by significant changes for Polestar, including a new ownership structure, leadership transitions, and the departure of founding CEO Thomas Ingenlath, replaced by former Opel boss Michael Lohscheller.
Despite the challenges, Lohscheller, who joined Polestar in October, highlighted positive momentum in Q4 2024, with a 5.3% increase in retail sales and a 37.2% surge in order intake compared to the same period in 2023.
Breakdown of retail sales compared to previous period:
| Q4 2024 | Q4 2023 | Change (%) | ||
| Retail sales | 12,256 | 11,640 | 5.3% | |
| FY 2024 | FY 2023 | Change (%) | ||
| Retail sales | 44,851 | 52,796 | -15% |
To align more closely with sector convention, Polestar has amended its definition of global volumes, with the new definition being retail sales representing sales to end customers.
The following table illustrates historical differences versus the prior definition:
| Restatement for new definition (Retail sales) | Published as per previous definition | ||
| Q3 2022 | 8,393 | 9,239 | |
| Q4 2022 | 20,243 | 21,067 | |
| FY 2022 | 50,510 | 51,491 | |
| Q1 2023 | 12,006 | 12,076 | |
| Q2 2023 | 15,485 | 15,792 | |
| Q3 2023 | 13,666 | 13,976 | |
| Q4 2023 | 11,641 | 12,782 | |
| FY 2023 | 52,798 | 54,626 | |
| Q1 2024 | 6,975 | 7,217 | |
| Q2 2024 | 13,072 | 13,026 | |
| Q3 2024 | 12,548 | 11,938 | |
| Q4 2024 | 12,256 | 12,277 | |
| FY 2024 | 44,851 | 44,458 |
Polestar will release its Q3 2024 financial results on January 16th, including a business and strategy update. The full-year 2024 financial results release date is yet to be announced.
