One of the newest electric vehicle brands, Polestar, had exciting news for the auto-world after it surpassed its 2022 sales goal.
The Sweden-based EV manufacturer aimed to deliver 50,000 units by the end of the fourth quarter, after lowering its original forecast by 15,000 due to supply chain interruptions and economic headwinds. Polestar managed to beat expectations, delivering 51,500 new vehicles in total, 1,500 over its target. The number is 22,000 higher than its previous record in 2021. The company’s fourth quarter performance was exceptionally strong, with 21,000 sales between October and December.
Many automakers were able to improve production rates in 2022, but still floundered in the sales department. While many businesses struggled to improve on their year over year numbers, the startlingly good performance of EVs means that demand for this niche market will only grow. Polestar promised it would be increase the rate of manufacturing to ensure it can keep up with this expected increase in demand, and has set its sights on making 80,000 deliveries by the end of 2023.
Still, it is important to remember that the global economy and infrastructure are far from healed, although signs of recovery are encouraging. Many dealerships and executives expect to encounter a difficult start to 2023, as consumer demand is crushed by high prices and record-breaking monthly payments. Polestar also won’t qualify for the Biden Administration’s $7,500 EV tax credits, since its product is made overseas. However, with the Polestar 3 arriving towards the end of this year, and the Polestar 2 apparently flying off the shelves, the company’s ambitions may still be easily met in the latter half of this year.
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