Written by Cláudio Afonso | LinkedIn | X
Polestar, the electric vehicle brand owned by China’s Geely Holding Group, expanded its incentives in the U.S. on Friday. The move comes as the brand’s U.S. sales fell 40% year-over-year in January to 505 units, according to Motor Intelligence.
Polestar’s Boston team sent out the campaign on Friday announcing a limited-time incentive program offering a combined $10,000 rebate for Tesla owners trading in their vehicles for a 2025 Polestar 3, according to an email shared by the X user Lei Xing.
The SUV starts at $67,500 in the United States with leasing starting from $599/mo. for 27 months. The launch edition, which includes Pilot and Plus pack and “faster delivery,” starts at $78,900.
Effective from February 21, 2025, the program provides a $5,000 rebate for any Tesla trade-in, with an additional $5,000 available for customers selecting an in-stock 2025 Polestar 3. The promotion runs through February 28.
In January, and according to Motor intelligence, Polestar sold 505 vehicles in the US — compared to about 800 units in the first month of 2024.
As of the time of writing, Polestar has not confirmed whether the rebate program extends beyond Boston. Here’s the email sent by Polestar:
“We have exciting news if you are a current owner of any Tesla model! As of 2/21/2025, Polestar announced a $5,000 rebate towards a Tesla trade in.
Select any in stock 2025 Polestar 3 and receive an additional $5000 rebate towards the trade in of any Tesla model. This program is running through the end of February (ending on 2/28/2025), so act now to claim your conquest rebate!” the email reads.
The company sold 12,256 units in the last quarter of 2024 taking its last year’s figures to 44,851. In 2023, the company had sold 52,796 vehicles.
In 2024, total retail sales fell 15% to 44,851 units from 52,796. The EV maker said that the total order intake in the last quarter of 2024 “increased by 37.2% versus Q4 2023 and by 37.9% for the full year 2024 versus 2023.”
The company has recently appointed Jonas Engström as its new chief operating officer (COO). The executive replaces Dennis Nobelius, who left the Geely-backed brand in September 2023 after three years in the role.
