Polestar has posted one other quarter of weakened gross sales, as the electrical car (EV) model battles delays and low demand.
Polestar introduced it had delivered “roughly” 13,000 automobiles globally all through the second quarter of 2024 (April to June), with out detailing a precise quantity.
Whereas the carmaker hailed this consequence as an 80 per cent enchancment on the 7200 vehicles delivered within the first quarter (January to March), it represents a drop of at the least 17.5 per cent on the 15,765 deliveries it made throughout the identical interval final yr.
It’s additionally the third successive quarter the place its year-on-year deliveries haven’t improved, having delivered roughly 12,800 automobiles within the ultimate three months of 2023 – a major 39 per cent drop on its file This autumn 2022 consequence.
Yr-to-date, Polestar has delivered about 20,200 EVs worldwide.
For context, Tesla has offered extra vehicles in Australia alone throughout the identical interval, notching up 23,116 gross sales domestically from January to June.
Whereas its international lineup has been successfully restricted to the Polestar 2 liftback, the bigger Polestar 3 and 4 SUVs are slowly rolling into abroad driveways.
Polestar’s ache continues in Australia, the place it offered 950 automobiles within the first half of 2024. That’s down 17.2 per cent on the opening six months of 2023, regardless of the EV market rising by 16.5 per cent to 50,219 gross sales.
![Polestar sales falter as embattled EV brand struggles to regain traction](https://images.carexpert.com.au/crop/800/533/app/uploads/2022/10/Polestar-3-B-1-Snow-Performance-Pack.jpg)
The EV maker’s first-half gross sales add to its troublesome 2024.
In January, Polestar stated it might retrench 450 employees, about 15 per cent of its workforce, in a bid to scale back exterior spending and edge nearer to breaking even. Polestar right now confirmed these job cuts have been accomplished.
In February, former mum or dad firm Volvo offloaded a 30 per cent stake in Polestar to its personal mum or dad firm, Chinese language automobile big Geely, which it valued at 9.5 billion Swedish krona (A$1.4 billion).
Whereas Polestar secured US$950 million (A$1.46 billion) in funding from a syndicate of 12 international banks in late February, the funding didn’t attain the US$1.3 billion (A$2bn) in exterior funding Polestar beforehand stated it might want to interrupt even in 2025.
![Polestar sales falter as embattled EV brand struggles to regain traction](https://images.carexpert.com.au/crop/800/533/app/uploads/2024/02/2024-Polestar-3-production-4.jpg)
The carmaker had additionally initially supposed to begin Australian-bound, Chinese language manufacturing of the Polestar 3 within the fourth quarter of 2023 (October to December), although this was subsequently delayed to February 2024.
As such, its Australian arrival was delayed from early 2024 to June and now late August, although it’s nonetheless anticipated to the touch down earlier than the Polestar 4 in October.
A mildly refreshed Polestar 2 is due in Australian showrooms late within the third quarter or within the early fourth quarter of 2024.
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