Polestar global sales up 13% in Q3 as it exits China retail network

Polestar announced retail sales of approximately 14,192 vehicles in the third quarter of 2025, marking a 13 per cent increase compared to the same period last year. Over the first three quarters combined, the Geely subsidiary sold an estimated 44,482 cars, representing 36 per cent growth year-on-year.

The carmaker expects to publish selected financial results for the third quarter of 2025 and hold an analyst conference call on 12 November 2025.

“The third quarter saw continued growth, and we have now sold as many cars as in the whole of 2024,” said Michael Lohscheller, CEO of Polestar. “Despite continued external headwinds and challenging market conditions, our line-up and strong order intake provide a solid basis for growth in the fourth quarter.”

Meanwhile, the business in China is hanging on by a thread – or possibly not at all. According to local media, the company closed its last direct store located in Shanghai, and currently relies only on online sales there. However, it was previously reported that the Geely subsidiary had also suspended the latter.

According to Polestar, closing its last store in China is part of a strategic adjustment to its business model in the country. The strategic need for change is evident. Sales have collapsed, and in April, Polestar dissolved its joint venture “Polestar Times Technology China Co.” with Star Meizu, originally set up in 2023. The JV had been responsible for vehicle design, R&D, software, and sales. Recently, Wu Huijing stepped down as Polestar China CEO and was replaced by Hu Shiwen, who now serves as legal representative of Polestar Automobile Sales Co. Ltd.

Nevertheless, Chinese influence within the brand remains substantial. The carmaker produces most of its vehicles there. And in June, PSD Investment Limited, a major Geely Holding Group investor under the control of Li Shufu, provided Polestar with a capital injection of $200 million, increasing Li’s direct stake in the company to 66 per cent.

Polestar currently operates in 28 global markets across North America, Europe, and Asia Pacific. For example, the brand’s models have also been available in France since June. Furthermore, since February, they have been sold not only online, but also via the Volvo dealer network. The brand also recently launched the Polestar 4 in the US and is looking to expand its production base to Europe with the Polestar 7, which will be produced in Slovakia starting next year.

polestar.com, carnewschina.com, cnevpost.com (both China)