Polestar Announces Global Volumes for the Fourth Quarter
Polestar (PSNY) reported Q4 2024 retail sales of 12,256 cars, marking a 5.3% increase compared to Q4 2023. However, full-year 2024 sales totaled 44,851 vehicles, representing a 15% decline from 2023's 52,796 units.
Notable improvements were seen in order intake, which increased by 37.2% in Q4 2024 compared to the same quarter last year. The company's newer models, Polestar 3 and Polestar 4, accounted for 56% of Q4 2024 order intake, indicating strong market reception for these vehicles.
The company has revised its definition of global volumes to align with industry standards, now focusing on retail sales to end customers. This change affects historical reporting figures, which have been adjusted and provided in a detailed appendix.
Polestar (PSNY) ha riportato vendite al dettaglio per il quarto trimestre del 2024 di 12.256 auto, segnando un aumento del 5.3% rispetto al quarto trimestre del 2023. Tuttavia, le vendite complessive per l'intero anno 2024 sono state pari a 44.851 veicoli, rappresentando un calo del 15% rispetto ai 52.796 veicoli del 2023.
Significativi miglioramenti sono stati registrati nel numero di ordini ricevuti, che è aumentato del 37.2% nel quarto trimestre del 2024 rispetto allo stesso trimestre dell’anno scorso. I modelli più recenti dell'azienda, Polestar 3 e Polestar 4, hanno rappresentato il 56% degli ordini ricevuti nel quarto trimestre del 2024, indicando una forte risposta del mercato per questi veicoli.
L'azienda ha rivisto la sua definizione di volumi globali per allinearsi con gli standard del settore, concentrandosi ora sulle vendite al dettaglio verso i clienti finali. Questa modifica influenza i dati storici di reporting, che sono stati adeguati e forniti in un appendice dettagliata.
Polestar (PSNY) reportó ventas al por menor en el cuarto trimestre de 2024 de 12,256 autos, lo que representa un aumento del 5.3% en comparación con el cuarto trimestre de 2023. Sin embargo, las ventas totales del año completo 2024 fueron de 44,851 vehículos, lo que representa una disminución del 15% respecto a las 52,796 unidades de 2023.
Se observaron mejoras notables en la recepción de órdenes, que aumentó un 37.2% en el cuarto trimestre de 2024 en comparación con el mismo trimestre del año anterior. Los modelos más recientes de la compañía, Polestar 3 y Polestar 4, representaron el 56% de la recepción de órdenes del cuarto trimestre de 2024, indicando una fuerte aceptación en el mercado para estos vehículos.
La compañía ha revisado su definición de volúmenes globales para alinearse con los estándares de la industria, centrándose ahora en las ventas al por menor a clientes finales. Este cambio afecta a las cifras históricas de informes, que han sido ajustadas y proporcionadas en un apéndice detallado.
폴스타 (PSNY)는 2024년 4분기 소매 판매에서 12,256대의 차량을 판매하였으며, 이는 2023년 4분기 대비 5.3% 증가한 수치입니다. 그러나 2024년 전체 연간 판매량은 44,851대에 달해, 2023년 52,796대와 비교하여 15% 감소하였습니다.
주문 접수에서 주목할 만한 개선이 있었습니다. 2024년 4분기 주문 접수는 지난해 같은 분기 대비 37.2% 증가했습니다. 회사의 신모델인 폴스타 3와 폴스타 4는 2024년 4분기 전체 주문 접수의 56%를 차지하여 이들 차량에 대한 강한 시장 반응을 나타냈습니다.
회사는 산업 표준에 맞추기 위해 전 세계 판매량의 정의를 수정하였으며, 이제 최종 고객을 대상으로 한 소매 판매에 집중하고 있습니다. 이 변경 사항은 역사적 보고 수치에 영향을 미치며, 조정된 숫자는 세부적인 부록으로 제공됩니다.
Polestar (PSNY) a annoncé des ventes au détail pour le quatrième trimestre 2024 de 12 256 voitures, marquant une augmentation de 5,3 % par rapport au quatrième trimestre 2023. Cependant, les ventes totales pour l'année 2024 ont atteint 44 851 véhicules, représentant une baisse de 15 % par rapport aux 52 796 unités de 2023.
Des améliorations notables ont été constatées dans les prises de commande, qui ont augmenté de 37,2 % au quatrième trimestre 2024 par rapport au même trimestre de l'année précédente. Les modèles plus récents de l'entreprise, Polestar 3 et Polestar 4, ont représenté 56 % des prises de commande au quatrième trimestre 2024, indiquant une forte réaction du marché pour ces véhicules.
L'entreprise a révisé sa définition des volumes mondiaux pour s'aligner sur les normes de l'industrie, se concentrant désormais sur les ventes au détail aux clients finaux. Ce changement affecte les chiffres historiques de rapport, qui ont été ajustés et fournis dans un appendice détaillé.
Polestar (PSNY) berichtete im vierten Quartal 2024 über Einzelhandelsverkäufe von 12.256 Fahrzeugen, was einen Anstieg von 5,3 % im Vergleich zum vierten Quartal 2023 darstellt. Die Gesamtverkäufe für das Jahr 2024 betrugen jedoch 44.851 Fahrzeuge, was einem Rückgang von 15 % im Vergleich zu den 52.796 Einheiten von 2023 entspricht.
Es wurden bemerkenswerte Verbesserungen bei den Auftragseingängen verzeichnet, die im vierten Quartal 2024 im Vergleich zum gleichen Quartal des Vorjahres um 37,2 % gestiegen sind. Die neueren Modelle des Unternehmens, Polestar 3 und Polestar 4, machten 56 % der Auftragseingänge im vierten Quartal 2024 aus, was auf eine starke Marktnachfrage für diese Fahrzeuge hindeutet.
Das Unternehmen hat seine Definition von globalen Volumina überarbeitet, um sich an den Branchenstandards zu orientieren, und konzentriert sich jetzt auf den Einzelhandel zu Endkunden. Diese Änderung hat Auswirkungen auf historische Berichtszahlen, die angepasst und in einem detaillierten Anhang bereitgestellt wurden.
- Q4 2024 retail sales increased 5.3% year-over-year to 12,256 cars
- Q4 2024 order intake grew 37.2% compared to Q4 2023
- Polestar 3 and 4 models represent 56% of Q4 2024 order intake
- Full-year 2024 retail sales declined 15% to 44,851 units from 52,796 in 2023
Insights
Polestar's Q4 results paint a complex picture of the company's market position. The 5.3% increase in quarterly retail sales to 12,256 units shows modest growth, but the 15% decline in full-year sales to 44,851 units reveals underlying challenges. The most compelling metric is the 37.2% surge in Q4 order intake, with 56% coming from newer models.
The order mix heavily favoring Polestar 3 and 4 models suggests a successful product strategy pivot, potentially indicating higher average selling prices and improved margins. However, the significant gap between order intake growth and actual deliveries points to possible production or supply chain constraints that need addressing.
The shift to reporting retail sales aligns with industry standards and provides better transparency, though the restatement reveals some historical discrepancies between delivery and retail figures. This transition in reporting methodology suggests a maturing business approach focused on end-customer metrics rather than channel inventory.
The divergence between order momentum and actual sales performance warrants careful analysis. While the 37.2% Q4 order growth is impressive, the full-year sales decline of 15% reflects execution challenges in a highly competitive EV market. The strong order composition for newer models indicates successful product differentiation but also highlights the need to accelerate production ramp-up.
The timing of this report, early in 2025, positions Polestar at a critical juncture. The company's ability to convert the robust order backlog into deliveries will be important for investor confidence. The upcoming strategy update on January 16th could provide essential insights into how management plans to address the delivery-to-order gap and improve operational efficiency.
-
Retail sales totalled 12,256 cars in Q4 2024, up
5.3% versus Q4 2023, driven by a growing model line-up -
Order intake in Q4 2024 up
37.2% versus Q4 2023, creating strong momentum as we enter 2025 -
Polestar 3 and Polestar 4 represent
56% of order intake in Q4 2024
(Photo: Business Wire)
Michael Lohscheller, Polestar CEO, says: “The changes being made to our commercial operations are clearly having a positive impact, as we saw a
Breakdown of retail sales compared to previous period:
|
|
Q4 2024 |
Q4 2023 |
Change (%) |
Retail sales |
|
12,256 |
11,640 |
|
|
|
FY 2024 |
FY 2023 |
Change (%) |
Retail sales |
|
44,851 |
52,796 |
- |
To align more closely with sector convention, Polestar has amended its definition of global volumes, with the new definition being retail sales representing sales to end customers. See appendix for adjusted historical figures.
As previously announced, the Company will publish Q3 key financial KPIs, business and operational highlights on 16 January 2025. Management will host a live webcast on the same date, to provide a business and strategy update. Further details, including a link to the webcast, are available on the Polestar Investor Relations website. Verified shareholders are able to ask questions through the Say Technologies platform, accessible via: https://app.saytechnologies.com/polestar-strategy-business-update
APPENDIX
The following table illustrates historical differences versus the prior definition:
|
|
Restatement for new definition (Retail sales) (1) |
Published as per previous definition (2)(3) |
|
|
|
|
Q3 2022 |
|
8,393 |
9,239 |
Q4 2022 |
|
20,243 |
21,067 |
FY 2022 |
|
50,510 |
51,491 |
|
|
|
|
Q1 2023 |
|
12,006 |
12,076 |
Q2 2023 |
|
15,485 |
15,792 |
Q3 2023 |
|
13,666 |
13,976 |
Q4 2023 |
|
11,641 |
12,782 |
FY 2023 |
|
52,798 |
54,626 |
|
|
|
|
Q1 2024 |
|
6,975 |
7,217 |
Q2 2024 |
|
13,072 |
13,026 |
Q3 2024 |
|
12,548 |
11,938 |
Q4 2024 |
|
12,256 |
12,277 |
FY 2024 |
|
44,851 |
44,458 |
(1) |
Retail Sales figures, which the Company publishes quarterly from now on, are sales to end customers. Retail Sales include new cars handed over via all sales channels and all sale types, including but not restricted to internal, fleet, retail, rental and leaseholders’ channels across all markets irrespective of their market model and setup and may or may not generate direct revenue for Polestar. These handover figures are comparable to the retail sales figures reported by our competitors. |
(2) |
Represents the sum of total volume of vehicles delivered for (a) external sales of new vehicles without repurchase obligations, (b) external sales of vehicles with repurchase obligations, and (c) internal use vehicles for demonstration and commercial purposes or to be used by Polestar employees (vehicles are owned by Polestar and included in inventory). A vehicle is deemed delivered and included in the volume figure for each category once invoiced and registered to the external or internal counterparty, irrespective of revenue recognition. Revenue is recognized in scenarios (a) and (b) in accordance with IFRS 15, Revenue from Contracts with Customers ("IFRS 15"), and IFRS 16, Leases ("IFRS 16"), respectively. Revenue is not recognized in scenario (c). |
(3) |
The figures in this column reflect actual sales volumes calculated using the former global volumes definition described in Note 2 above and may, for certain periods, differ slightly to previously reported figures due to rounding. |
About Polestar
Polestar (Nasdaq: PSNY) is the Swedish electric performance car brand determined to improve society by using design and technology to accelerate the shift to sustainable mobility. Headquartered in
Polestar has three models in its line-up: Polestar 2, an electric performance fastback; Polestar 3, the SUV for the electric age; and Polestar 4, the SUV coupé transformed. With plans to have a line-up of five performance EVs by 2026, Polestar 5, an electric four-door GT and Polestar 6, an electric roadster, are coming soon.
The Polestar 0 project supports the company’s ambitious goal of creating a truly climate-neutral production car by 2030. The research initiative also aims to create a sense of urgency to act on the climate crisis, by challenging employees, suppliers and the wider automotive industry, to drive towards zero.
Forward-Looking Statements
Certain statements in this press release (“Press Release”) may be considered “forward-looking statements” as defined in the Private Securities Litigation Reform Act of 1995. Forward-looking statements generally relate to future events or the future financial or operating performance of Polestar including the number of vehicle deliveries and gross margin. For example, projections of revenue, volumes, margins, cash flow break-even and other financial or operating metrics and statements regarding expectations of future needs for funding and plans related thereto are forward-looking statements. In some cases, you can identify forward-looking statements by terminology such as “may”, “should”, “expect”, “intend”, “will”, “estimate”, “anticipate”, “believe”, “predict”, “potential”, “forecast”, “plan”, “seek”, “future”, “propose” or “continue”, or the negatives of these terms or variations of them or similar terminology. Such forward-looking statements are subject to risks, uncertainties, and other factors which could cause actual results to differ materially from those expressed or implied by such forward looking statements.
These forward-looking statements are based upon estimates and assumptions that, while considered reasonable by Polestar and its management, as the case may be, are inherently uncertain. Factors that may cause actual results to differ materially from current expectations include, but are not limited to: ( (1) Polestar’s ability to enter into or maintain agreements or partnerships with its strategic partners, including Volvo Cars, Geely and Xingji Mezu Group, original equipment manufacturers, vendors and technology providers; (2) Polestar’s ability to maintain relationships with its existing suppliers, source new suppliers for its critical components and enter into longer term supply contracts and complete building out its supply chain; (3) Polestar’s ability to raise additional funding; (4) Polestar’s ability to successfully execute cost-cutting activities and strategic efficiency initiatives; (5) Polestar’s estimates of expenses, profitability, gross margin, cash flow, and cash reserves; (6) the identification and remediation of accounting errors and/or a final assessment of errors already identified that differs significantly from Polestar’s preliminary view of such errors and the successful filing of restatements of any SEC reports; (7) Polestar’s ability to continue to meet stock exchange listing standards; (8) changes in domestic and foreign business, market, financial, political and legal conditions; (9) demand for Polestar’s vehicles or car sale volumes, revenue and margin development based on pricing, variant and market mix, cost reduction efficiencies, logistics and growing aftersales; (10) delays in the expected timelines for the development, design, manufacture, launch and financing of Polestar’s vehicles and Polestar’s reliance on a limited number of vehicle models to generate revenues; (11) increases in costs, disruption of supply or shortage of materials, in particular for lithium-ion cells or semiconductors; (12) risks related to product recalls, regulatory fines and/or an unexpectedly high volume of warranty claims; (13) Polestar’s reliance on its partners to manufacture vehicles at a high volume, some of which have limited experience in producing electric vehicles, and on the allocation of sufficient production capacity to Polestar by its partners in order for Polestar to be able to increase its vehicle production volumes; (14) the ability of Polestar to grow and manage growth profitably, maintain relationships with customers and suppliers and retain its management and key employes; (15) risks related to future market adoption of Polestar’s offerings; (16) risks related to Polestar’s current distribution model and the evolution of its distribution model in the future; (17) the effects of competition and the high barriers to entry in the automotive industry and the pace and depth of electric vehicle adoption generally on Polestar’s future business; (18) changes in regulatory requirements (including environmental laws and regulations and regulations related to connected vehicles), governmental incentives, tariffs and fuel and energy prices; (19) Polestar’s reliance on the development of vehicle charging networks to provide charging solutions for its vehicles and its strategic partners for servicing its vehicles and their integrated software; (20) Polestar’s ability to establish its brand and capture additional market share, and the risks associated with negative press or reputational harm, including from electric vehicle fires; (21) the outcome of any potential litigation, including litigation involving Polestar and Gores Guggenheim, Inc., government and regulatory proceedings, tax audits, investigations and inquiries; (22) Polestar’s ability to continuously and rapidly innovate, develop and market new products; (23) the impact of the ongoing conflict between
Nothing in this Press Release should be regarded as a representation by any person that the forward-looking statements set forth herein will be achieved or that any of the contemplated results of such forward-looking statements will be achieved. You should not place undue reliance on forward-looking statements, which speak only as of the date they are made. Polestar assumes no obligation to update these forward-looking statements, even if new information becomes available in the future, except as may be required by law.
View source version on businesswire.com: https://www.businesswire.com/news/home/20250109208150/en/
Investor Relations
IR@polestar.com
Theo Kjellberg
Head of Corporate Communication
Theo.kjellberg@polestar.com
Source: Polestar
FAQ
What were Polestar's (PSNY) Q4 2024 retail sales numbers?
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How much did Polestar's (PSNY) order intake grow in Q4 2024?
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