Polestar Sees 125% Growth in Sales for 2022

Polestar has seen great gains over the last year, with a reported 125% sales increase from 2021.

The Sino-Swedish EV manufacturer has made great strides this year, delivering 21,200 cars in the first six months of 2022. This is a huge increase of more than 125%, last year the brand only shifted 9,510 cars. The company credits its public stock exchange offering, as well as “continued development in existing and new markets” as the reason for its strong performance. The brand expanded from 19 markets to 25 markets and jumped from 103 retail locations to 125 locations. If this pace continues, Polestar should be able to hit its 2022 target of delivering 50,000 cars by the year’s end.

Bookings and pre-orders remain strong, up to 50,000 – a staggering 350% increase from last year. Part of this, is due to Hertz’s huge order of 50,000 Polestar 2 sedans, as the rental company further electrifies its fleet.

This all sounds fairly impressive, considering Polestar only sells two models, a limited-production hybrid coupe, and a sedan. These are two body styles that haven’t exactly set sales charts on fire. Also, Polestar still doesn’t have a presence in many highly-populated parts of the United States and Canada. Still, the company expects that the Polestar 3 will only further fuel growth, as fully-electric SUVs seem to be a hot market with a bulk of sales. Reservations for the Polestar 3 will open the day the EV SUV premieres, sometime in October. Polestar wants to move 290,000 cars by 2025.

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