Polestar Q1 Sales Jump 76% On Newer Models: Retail Sentiment Brightens

EV maker Polestar (PSNY) was in the spotlight on Thursday after the company said its retail sales volume in the first quarter rose 76% compared to the corresponding quarter last year.

The Swedish company reported retail sales of an estimated 12,304 units, driven by a growing uptake of newer models and a transition to an active-selling model.

Polestar’s new CEO Michael Lohscheller said the company is on “the right track and doing the right things.” Lohscheller joined Polestar as its chief executive in October, succeeding Thomas Ingenlath.

“With a more active selling model, more retail partners and attractive cars, we are delivering results. At the same time, we are monitoring closely and assessing the volatile geopolitical environment and will adapt as needed,” Lohscheller said.

The company currently manufactures cars in the U.S. and China. Auto tariffs of 25%, applicable on vehicles imported into the U.S., became effective last week and are expected to drive up automobile prices in the country.

Polestar is looking to diversify its manufacturing footprint and plans to make the Polestar 4 for the North American market in South Korea in the second half of 2025.

On Stocktwits, retail sentiment around Polestar jumped 15 points in the ‘bullish’ territory, while message volume rose within ‘high’ levels over the past 24 hours.

A Stocktwits user expressed optimism over the company’s sales figures.

Another, however, expressed disappointment over the firm’s delays in reporting its financials.

Polestar expects to publish its full-year results for 2024 by the end of April.

PSNY shares are down by nearly 12% year-to-date and by about 39% over the past 12 months.

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