Polestar said on Thursday its global sales surged 76% year over year in the first quarter of 2025 to “an estimated 12,304” vehicles. The Michael Lohscheller-led company noted in a statement that it is “monitoring closely and assessing the volatile geopolitical environment and will adapt as needed.”
While citing “a challenging economic environment,” the brand backed by the Chinese Geely Holding Group said its sales figures in the first quarter were “supported by a growing uptake of newer models and the ongoing transition to an active selling model.”
In a statement, Polestar’s chief executive Michael Lohscheller said the comapny is “on the right track and doing the right things.”
“I’m pleased with the progress we are making in transforming our commercial operations. With a more active selling model, more retail partners and attractive cars, we are delivering results,” Lohscheller added. “At the same time, we are monitoring closely and assessing the volatile geopolitical environment and will adapt as needed.”
In the first three months of 2024, Polestar had sold 6,975 units. The company said on Thursday it expects to publish its full-year results for 2024 and file its annual report on by the end of the month.
In the UK, the brand set a new sales record in March with 2,434 vehicles sold, industry data showed earlier this week. Figures jumped 203.11% year over year bringing first quarter total figures to 3,695 units, up 184.7% year over year.
The EV maker registered 357 vehicles in Germany in March, matching its performance from the same month in 2024. For the first quarter, the company sold 855 vehicles in Germany, a 35.5% increase year-over-year.
In the Netherlands, 165 units were recorded in March — an 11% rise from last year. First-quarter sales totaled 439 cars, up 25% from the same period in 2024.
Switzerland saw one of the brand’s strongest gains, with March deliveries surging over 250% to 107 units. Quarterly sales reached 248 vehicles, more than triple the number from a year earlier. In Portugal, Polestar sold 65 cars in March, almost doubling the figures from March 2024. First-quarter sales hit 111 units, a 126.5% increase year over year.
The carmaker plans to enter the French market this summer, aiming to expand its European retail network to over 180 locations by 2027. It was previously banned in France due to a 2022 trademark dispute with Citroën over the similar logo design.
Tariffs
Polestar has recently stopped selling new Polestar 2 model from its US website in reaction to the recently announced US tariffs. The model is produced in China and is highly affected by the new duties from the U.S. Administration.
According to media outlet Electrek, the company later stated that “there are a select number of Polestar 2s in stock on select retailers” and that the priority in the US will be its other two models.
