Key facts
- Polestar's third-quarter retail sales rose 1% to 14,371 units.
- US sales for Polestar rose to approximately 2,160 units in Q3.
- Polestar will be barred from selling new cars in the US from the 2026 model year due to Commerce Department rules.
- Polestar plans to produce its Polestar 7 compact SUV at Volvo's factory in Slovakia.
- Polestar 5 began deliveries this summer.
- Polestar 4 station-wagon/SUV version, built in South Korea, ships in Q4.
Polestar reported a slight increase in third-quarter retail sales, reaching 14,371 units, up 1% from the same period last year. This comes as the Swedish electric vehicle maker, which is majority-owned by China's Geely Holding, faces a looming ban on selling new cars in the United States due to new Commerce Department rules targeting China-linked vehicles with connected-vehicle technology.
Polestar CEO Michael Lohscheller stated the company is nearing a sell-out of its remaining 2026 model year cars in the US. Excluding the US market, Polestar's retail sales fell by 8% in the third quarter, with US sales rising to approximately 2,160 units. The company stated it will continue to sell existing inventory of Polestar 3 and 4 models in the US while maintaining its service network. Polestar has shifted its focus to the European market, with plans to produce the compact SUV, Polestar 7, at Volvo's factory in Slovakia.
In September, Polestar revised its full-year volume growth guidance downwards, citing persistent higher competition. Its sister brand, Volvo Cars, recently withdrew its own full-year guidance following a 40% decrease in China retail sales. Polestar 5 began deliveries this summer, and a new version of the Polestar 4 is set to ship in the fourth quarter. Polestar is expected to release its third-quarter financial results on November 5.