Polestar reports a 125% increase in sales in the first half of 2022

Polestar reports a 125% increase in sales in the first half of 2022

Electric car brand Polestar reports strong performance in the first half of 2022 with record deliveries and good order delays. Continued development in existing and new markets is driving significant growth in customer demand, Polestar said in a recent statement.

The Swedish company, which has been listed on the New York Nasdaq stock market since the end of June, delivered almost 21,200 vehicles in the first six months of 2022, more than double the number of deliveries compared to the same period last year (9510 vehicles). . ) – An increase of nearly 125 percent. Global orders have increased to more than 50,000 since early 2022, increasing more than 350 percent year-on-year as the company continues to see strong customer demand and also book the first batch of Hertz orders . With this strong performance, Polestar reaffirms its goal of delivering 50,000 vehicles throughout the year.

It’s great to see the number of enthusiastic Polestar 2 customers growing so quicklysaid Polestar CEO Thomas Ingenlath. “I am confident that the momentum we have seen in brand awareness and sales this year will increase exponentially in the coming years as more vehicles are introduced..”

Polestar expanded its global reach from 19 to 25 markets in the first six months of 2022, while the number of retail locations increased from 103 to 125 worldwide. About 30 more retail locations are expected to open by the end of 2022. This increased presence resulted in the number of test drives increasing by more than 210 percent – ​​another indicator of growing consumer interest in the brand.

The company also announced that it is now moving forward with the start of a second shift at the plant, following the prolonged government shutdown due to COVID-19 in China in the first half of 2022, which delayed the production of electric vehicles. This is intended to restore some of the production lost earlier in the year and pave the way for future growth.

The next big step for Polestar is to enter the SUV segment with the global launch of the Polestar 3 electric SUV in October. The SUV market is one of the fastest-growing and highest-grossing segments in the automotive industry, especially in the United States. Customers are expected to be able to order the Polestar 3 on the day of the premiere in October.

The Polestar 3 will differentiate itself from other SUV offerings and accelerate our growth. It also represents an expansion of our manufacturing footprint in the United States as we become more global. It is an important next step towards our goal of selling 290,000 vehicles in 2025 – 10 times more than in 2021.“, concludes Polestar boss Ingenlath.

Source: Polestar press release 07/13/2022