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Polestar reports Q4 global deliveries, revealing a difficult end to 2023

The Swedish electric car manufacturer Polestar Automotive has released its global delivery figures for the fourth quarter of 2023

The Swedish electric car manufacturer Polestar Automotive has released its global delivery figures for the fourth quarter of 2023.

The report revealed that the company delivered around 12,800 vehicles, of which 880 Polestar 4 vehicles were delivered in China. This brings its total global deliveries for the year to roughly 54,600 vehicles, an increase of 6% over 2022.

The EV maker continues safeguarding its exclusive brand position in a competitive market, but saw fewer deliveries in Q4. From October though December, Polestar sold roughly 12,800 units, down roughly 8% from Q3.

For all of 2023, the automaker missed its anticipated delivery guidance by over 5,000, a margin of roughly 10%. The company initially anticipated a gross profit margin of 2% for the year but now expects to break even or have a gross margin of 0%.

According to the automaker, it plans to launch the luxury mid-size SUV, Polestar 3, later this summer with a price tag of around $84,000. Additionally, the company’s Polestar 4 will enter the U.S. and European markets in the next few months with a price tag of $60,000 respectively.

“Polestar 4 has been very well received in China, and ramping up production was an important milestone for us,” says CEO Thomas Ingenlath. “In the upcoming weeks, sales of our SUV coupé will begin in Europe and Australia.” He continues, “Our transition from a one-car to a three-car corporation, with the first deliveries of Polestar 3 anticipated in the summer, sets us up for a revolutionary and thrilling 2024.”

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Jaelyn Campbell
Jaelyn Campbell
Jaelyn Campbell is a staff writer/reporter for CBT News. She is a recent honors cum laude graduate with a BFA in Mass Media from Valdosta State University. Jaelyn is an enthusiastic creator with more than four years of experience in corporate communications, editing, broadcasting, and writing. Her articles in The Spectator, her hometown newspaper, changed how people perceive virtual reality. She connects her readers to the facts while providing them a voice to understand the challenges of being an entrepreneur in the digital world.

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