Polestar said on Thursday that first-quarter retail sales rose 7% to an estimated 13,126 vehicles — a record for the period — even as the Geely-backed EV maker entered the year with a significantly reduced growth outlook.
CEO Michael Lohscheller cited Australia, Germany, Sweden, South Korea, and the United Kingdom as the key markets behind the increase.
Lohscheller added that the company’s performance “has shown resilience, with market conditions becoming more challenging, amid ongoing geopolitical developments.”
Polestar parent Geely Holding Group‘s founder Li Shufu announced late last month that the group will build more vehicles in Europe using existing plants owned by Volvo Cars — a move that could eventually reduce Polestar’s exposure to shipping logistics and tariff risks.
Shares of the premium EV brand are listed on the Nasdaq and have fallen more than 90% from their 2022 SPAC-era highs.
The Numbers
The 13,126 figure compares to 12,263 units in the first quarter of 2025.
Polestar currently operates 230 retail sales points globally, up 50% from 154 at the end of the year-ago period, with plans to reach approximately 250 by year-end.
In the UK — the brand’s largest European market — Polestar registered 4,151 vehicles in the first quarter, up 12.3% year over year.
March alone accounted for 2,406 units, more than tripling February’s figure, though it edged lower by 28 units compared to March 2025. The company recently delivered its 50,000th vehicle in the country.
The Polestar 4 SUV was the brand’s top-selling model in the UK during March, accounting for 1,305 of the month’s 2,406 registrations, according to EV tracking platform EU-EVs.
It represented 2,328 of the brand’s total UK registrations in the quarter.
In Germany, Polestar sold 456 vehicles in March, up 28% year over year and 54% sequentially. First-quarter registrations reached 1,284 units, a 50.2% increase from the same period of 2025.
Polestar‘s UK monthly registrations depend heavily on shipping logistics from its overseas production facilities.
All current models are manufactured in either China or the United States, with the Polestar 3 SUV recently consolidated to Volvo Cars‘ South Carolina plant after previously being produced at both that facility and in China.
Production of the Polestar 4 recently began in South Korea, though management said the output is destined for the North American market.
Growth Target Cut
The record quarter arrives against a backdrop of lowered expectations.
Polestar quietly cut its 2026 sales growth target last month, alongside the announcement of what it described as the “largest model offensive in its history.”
The company is now guiding for “low double-digit volume growth” in 2026, implying approximately 10-15% growth. That is roughly 20 percentage points below the 30-35% compound annual retail sales growth target for 2025-2027 it had set a year earlier.
Polestar met its 2025 guidance by delivering approximately 60,119 vehicles, a 34% year-over-year increase, with over 46,000 of those registered in Europe, according to data compiled by EV.
Under the previous 30-35% target, Polestar had been on a path toward 78,000 to 81,000 deliveries in 2026. The revised outlook implies roughly 66,000 to 69,000 units instead — a reduction of approximately 12,000 to 15,000 vehicles.
At the first-quarter run rate of 13,126 units, an annualised figure of approximately 52,500 would fall short of even the revised target — suggesting Polestar will need a significant ramp in the second half to meet its own guidance.
Detailed financial guidance is expected alongside the company’s full-year 2025 results, which are typically reported in April.
Lineup and Pricing
Polestar‘s German lineup includes the Polestar 2 sedan from €48,990, the Polestar 3 SUV from €79,090, and the Polestar 4 from €61,900.
The company is offering a €2,000 direct discount on the Polestar 4 through June 30, with an alternative 0% financing option over 24 months with no down payment.
The Polestar 5 GT — the brand’s most recently unveiled model — can be configured on the German website from €118,600, with deliveries scheduled for the summer.
The upgraded Polestar 3 is not yet available for purchase in Germany, with the configurator currently directing customers to inventory stock.
Newly configured Polestar 2 units carry an estimated delivery window of August to September, while customised Polestar 4 orders are expected in late April.
