Polestar Sold Almost 14,000 Electric Cars Globally In Q3 2023

Polestar announced today that its global electric car deliveries during the third quarter of 2023 amounted to approximately 13,900 units.

That’s about 50 percent more than a year ago, although less than in Q2 (15,800) or in the record fourth quarter of 2022 (21,002).

Polestar explains that sales of the higher-priced, upgraded Polestar 2 contributed to a strong margin improvement and that the company prioritizes value over volume.

Polestar BEV sales in Q3’2023 (YOY change):

  • Total deliveries: approximately 13,900 (up 50%)

Polestar Electric Car Sales – Q3 2023

* some data estimated

So far this year, Polestar delivered roughly 41,700 electric cars to customers, which is over a third more than a year ago.

Polestar BEV sales in Q1-Q3’2023 (YOY change):

  • Total deliveries: approximately 41,700 (up 37%)

According to the previous reports, Polestar’s plan is to deliver 60,000-70,000 vehicles in 2023 (compared to the initial guidance of 80,000 units).ย To achieve the target, Polestar has to sell 18,300-28,300 units in Q4.

For reference, in 2022, Polestar sold some 51,500 electric cars (up nearly 80 percent year-over-year). At the time it was noticeably less than the 65,000 units in the original target (lowered by 15,000 due to supply constraints).

In the near future, Polestar will expand its lineup, which currently consists of only one model, the Polestar 2. In the fourth quarter, Polestar will start deliveries of the Polestar 4 model in China. In early 2024, production of the Polestar 3 is expected to start at Volvo Cars’ plant in South Carolina.

Thomas Ingenlath, Polestar CEO, said: โ€œWe have delivered a strong quarter and expect higher margins for the rest of the year, as we continue to prioritize value over volume in our business. We will soon have a compelling range of three distinctive cars, including two luxury SUVs, each addressing an exclusive luxury EV segment. With this, Polestar enters an exciting new period.โ€

Polestar complete product porfolio to 2024

Polestar’s lineup is expected to consist of multiple BEV models in the coming years:

  • Polestar 1 – initial, low-volume, flagship PHEV
  • Polestar 2 – current BEV, based on Volvo’s CMA platform
  • Polestar 3 – performance SUV
    (production starts in 2023)
  • Polestar 4 – performance SUV coupe
    (expected in 2023/2024)
  • Polestar 5 –ย performance 4-door GT, based on the Precept concept car
    (expected in 2024)
  • Polestar 6 – 2+2 hard-top convertible, based on the Polestar O2 concept car
    (expected in 2026)

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