Polestar exceeds delivery targets for 2022

Polestar delivered about 21,000 vehicles in the fourth quarter of 2022, exceeding its reduced sales target of 50,000 electric cars for the full year 2022. According to the manufacturer’s preliminary figures, Polestar sold 51,500 cars last year.

This marks an increase of around 80 per cent compared to 2021. Until May, Polestar itself projected 65,000 deliveries in 2022 (which would have meant a growth of 124 per cent) but then had to lower its forecast due to the ongoing government covid lockdown in China and the resulting supply chain problems.

Achieving the reduced annual target meant that an enormously strong final quarter was necessary, which was looking good with the publication of the Q3 figures. With 9,239 deliveries in the third quarter, Polestar stood at 30,424 vehicles delivered at the end of September, 19,576 units short of the annual target. With around 10,000 deliveries per quarter to date, it was uncertain whether the annual target could be met.

Polestar does not break down full-year 2022 and fourth-quarter deliveries by model series, but the Polestar 2 electric sedan accounts for the vast majority of sales, while only a three-digit number is likely to be included of the Polestar 1 PHEV coupe.

Unlike Tesla, for example, which publishes both delivery and production figures per quarter, the Swedish Geely brand does not provide details on production. Polestar has only been obliged to publish quarterly figures since its IPO. Before that, announcements on vehicle sales were voluntary, for example, to convince potential investors. So far, there are only reliable delivery figures when Polestar itself has published them – which was usually the case at the half-year or full year.

Polestar CEO, Thomas Ingenlath exclaimed: “I’m proud of the many milestones we achieved in 2022 and in particular the massive team effort that went into delivering our strongest quarter to date – surpassing our 50,000 global volumes target for the year.” He revealed, “We are now fully focused on 2023. There will be the usual quarterly variations, but I’m confident that we will continue to actively manage our supply chain to meet the growing demand for Polestar 2, commence first deliveries of Polestar 3 and launch Polestar 4.”

For 2023, Polestar expects global sales to rise to around 80,000 cars, which would correspond to 60 per cent growth. This should then also include the first deliveries of the Polestar 3. Polestar presented the large e-SUV in October 2022.

Polestar will publish its business figures for 2022 on 2 March 2023.