The total sales figure for Polestar in 2024 was reduced compared to the previous year

Polestar has just released its sales figures for the last quarter of 2024, as well as those for the full year, revealing in the latter case a 15 percent decline compared to the previous year. Thus, while in 2023 the Swedish manufacturer controlled by the Chinese giant Geely managed to deliver 52,796 vehicles to its customers, in 2024 this figure fell to 44,851 units.

Even though 2024 has been a worse year, optimism, however, seems to prevail at the company. At Polestar, they are fully aware that this year has been very difficult for them, with major changes that will have repercussions in the future. 2024 has been a year marked by a restructuring of the company’s ownership structure, as well as by a significant change in several members of the management team, including the arrival of a new Chief Executive Officer.

Michael Lohscheller, former head of Opel, has taken over the reins of the company, replacing Thomas Ingenlath, founder of Polestar. Lohscheller took up his new post last October, after previously working at Vinfast and Nikola. The new head of the Swedish brand also views the future with optimism and is convinced that in 2025 there will be a significant boost in sales. According to him, the changes made to the company’s commercial operations are already beginning to have a positive impact, as was seen during the last quarter of the year, when retail sales rose by 5.3 percent and there was also a significant increase in incoming orders.

Data for the last quarter of last year

According to the company, in the last quarter of 2024 Polestar sold a total of 12,256 vehicles, compared with 11,640 in the same period last year. This represents growth of 5.3 percent. Despite these figures, this last quarter fell well short of the 20,000 vehicles the brand sold in the last quarter of 2022.

Another positive point to note is the increase in the number of orders, 37.2 percent more in the last quarter compared with the same period of the previous year, and 37.9 percent more if we take the full year as a reference. The new Polestar 3 and Polestar 4 models are, without a doubt, the main reason this has been the case, accounting for 56 percent of orders in the fourth quarter.

Polestar plans to present its financial figures for the third quarter of 2024 on January 16, including a business and strategy update in a live webcast. The date for the presentation of the annual 2024 results has not yet been confirmed, however.