Polestar Sees 5.3% Increase In Q4 Retail Sales, Order Intake Surges 37.2%

Polestar Automotive Holding‘s PSNY retail sales rose by 5.3% for the fourth quarter of 2024 compared to the same period in 2023, totaling 12,256 cars.

Despite this quarterly growth, total retail sales for the full year 2024 decreased by 15%, amounting to 44,851 cars.

Order intake surged 37.2% in the fourth quarter of 2024 with a 37.9% rise for the full year.

The Polestar 3 and Polestar 4 models were key drivers, accounting for 56% of the fourth-quarter 2024 order intake.

CEO Michael Lohscheller says the changes to Polestar's commercial operations were central to the growth, positioning it well for 2025.

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Lohscheller praised the 5.3% growth in retail sales and the uptick in order intake for the “strong momentum” in 2025.

Polestar also adjusted its global volume definitions to align with sector standards, now considering retail sales as those made directly to end customers.

The company is set to announce its third-quarter key financial and operational highlights on January 16, 2025, to provide further insight into its ongoing growth.

According to Benzinga Pro, PSNY stock has lost over 44% in the past year. Investors can gain exposure to the stock via ARK Space Exploration & Innovation ETF ARKX.

Price Action: Polestar shares closed higher by 0.91% to $1.110 on Thursday.

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