Polestar reports 125% sales increase for first half of 2022

Polestar has recorded a strong sales performance for the first half of the year with a record number of deliveries.

The Swedish company, which listed on the Nasdaq New York stock exchange in late June, delivered approximately 21,200 cars in the first six months of 2022, more than doubling deliveries from 9,510 cars in the same period in 2021 – an increase of almost 125%.

Global order take rose to 50,000 since the start of 2022, up more than 350% year-on-year, as the company continues to see strong customer demand as well as booking the first portion of Hertz orders. With this strong performance, Polestar reaffirms its full year target of delivering 50,000 cars.

“It is great to see that the number of enthusiastic Polestar 2 customers is growing so quickly,” said Polestar CEO, Thomas Ingenlath. “I am very confident that the strong momentum we have seen this year in brand awareness and sales figures will accelerate powerfully in the coming years as more ground-breaking cars are revealed.”

Polestar expanded its global presence during the first six months of 2022 from 19 markets to 25, while the number of retail locations rose from 103 to 125 around the globe, with approximately 30 more expected to open by the end of 2022. This increased retail presence drove the number of test drives up by over 210%.

The next major step for Polestar will be its entry into the SUV segment with the global launch of the electric performance SUV, Polestar 3, in October. The SUV market is one of the highest growth and margin segments in the automotive industry, especially in the United States. Customers can expect to be able to order Polestar 3 on the day of the premiere in October.

“Polestar 3 will stand out amongst other SUV offerings and boost our growth trajectory. It also represents the expansion of our manufacturing footprint into the United States as we become even more global. It is an important next step towards our goal of selling 290,000 cars in 2025 – ten times more than we sold in 2021,” added Thomas Ingenlath.