Polestar delivered round 13,900 electrical automobiles to prospects within the third quarter, half greater than in the identical interval final 12 months (9,239 models). Nevertheless, in comparison with the second quarter of this 12 months, Polestar deliveries have been down by 1,900 automobiles. “Now we have delivered a robust quarter and count on larger margins for the remainder of the 12 months, as we proceed to prioritize worth over quantity in our enterprise,” mentioned Thomas Ingenlath, CEO of Polestar.
The producer’s statistics present that deliveries of the electrical automobile model from January to September 2023 totalled round 41,700 automobiles, a progress of 37 per cent in comparison with the identical interval final 12 months. With deliveries of the Polestar 4 scheduled to start in China within the fourth quarter, Polestar nonetheless expects to succeed in its annual goal of 60,000 to 70,000 automobiles. At least, the producer is thus aiming for gross sales of 18,300 automobiles between October and December.
When taking a look at Polestar deliveries, it needs to be famous that it’s nonetheless successfully only one mannequin – the Polestar 2 mid-size sedan. The electrical sedan just lately acquired a facelift with some modifications to the drive system, and deliveries of the revised sedan began within the third quarter. In line with Polestar, “gross sales of the higher-priced, upgraded Polestar 2 have contributed to robust margin enchancment”. This could present up within the quarterly financials that Polestar is previewing for 8 November 2023.
The big Polestar 3 electrical SUV was already offered in 2022, however there’s a software-related delay, which is why manufacturing is now solely scheduled to begin in Q1 2024. The Polestar 4, on a unique platform, is scheduled to enter manufacturing in late 2023. “We’ll quickly have a compelling vary of three distinctive automobiles, together with two luxurious SUVs, every addressing an unique luxurious EV section. This marks the start of an thrilling new part for Polestar,” expresses Ingenlath.
Together with this, Polestar is concentrating on profitability in 2025. Along with the Q3 outcomes scheduled for 8 November, “Polestar’s CEO and CFO will present an replace concerning actions to handle prices and enhance margins to succeed in profitability in 2025,” it says.
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