Written by Cláudio Afonso | LinkedIn | X
Electric vehicle maker Polestar saw a 49.4% drop in sales in Germany in 2024, with total registrations falling to 3,181 units from 6,288 in 2023, according to data from the German Federal Motor Transport Authority.
The decline left the company with a market share of less than 1.5% in Europe’s largest car market.
After a weaker performance in October with only 152 vehicles registered, Polestar saw a slight recovery in the final months of the year, registering 208 units in November and 328 in December.
Polestar is currently offering several promotions in Germany, including 0.0% financing for all new and pre-configured vehicles.
Leasing options start at €599 per month for the Polestar 4 (down from €788), €899 per month for the Polestar 3 (down from €1,170), and €499 per month for the Polestar 2 (down from €659), all inclusive of VAT and with no down payment required. Additionally, customers can receive a €4,000 bonus when purchasing a new or pre-configured Polestar 3 or Polestar 4.
In 2024, sales of battery electric vehicles (BEVs) in Germany have fallen by 24.2% to 380,609 units, mainly due to the removal of EV incentives in the country at the end of 2023. The market share of BEVs dropped to 13.5%.
Hybrid vehicles, however, rose by 12.7% to 947,398 registrations, representing 33.6% of the market. Among hybrids, 191,905 were plug-in hybrids, up 9.2%, with a market share of 6.8%.
Polestar’s rival Tesla saw a 41% drop in annual registrations despite seeing December’s registrations at 3,905 units — nearly doubling November’s figures. The Chinese EV makers Nio and XPeng recorded 31 and 99 units, respectively.
BYD, which sold over 4 million new energy vehicles globally in 2024, registered 323 units in Germany in December, marking a 54% year-on-year decline and a 25% sequential drop.
In the third quarter of the year, Polestar’s global deliveries fell to 11,900 vehicles (down from 13,150 units) taking year to date figures to 32,300 units.
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.
Written by Cláudio Afonso | LinkedIn | X
