Polestar, backed by China’s Geely Holding Group but headquartered in Sweden, registered 535 vehicles in its home market in April, up 11.5% from 480 units a year earlier and 10.1% from 486 in March.
Year to date, the Gothenburg-based brand has sold 1,992 vehicles in the country.
The Polestar 4 was the brand’s best-selling model with 322 units. The coupe SUV, priced from 794,500 SEK ($82,400), represented 60% of its sales. The company is currently selling a Business Edition, which starts from 692,000 SEK ($71,800), including a tax benefit of 2,942 SEK ($300) per month.
Out of the 535 units sold in April, 164 were Polestar 2s.
The sedan, which was originally listed at 599,000 SEK ($62,100), is now available for 579,000 SEK ($60,000) on the company’s Swedish website.
Polestar recorded 14 units in April of its most expensive model, the Polestar 3 SUV. Prices begin at 890,000 SEK, which is equivalent to $92,300.
Competitors
The country’s best-selling model is the plug-in hybrid (PHEV) Volvo XC60 SUV, with over 2,000 units registered, followed by Volkswagen‘s ID.7 battery electric (BEV) sedan, which is also Sweden’s best-selling EV — with 976 vehicles.
Volvo, also a subsidiary of Geely Holding Group, rounded out the top EV model sales in April with its EX40 and EX30 SUVs, recording 861 and 547 units sold, respectively.
Tesla‘s share of the Swedish market in April amounted to 0.74% with 203 vehicles registered. Sales of the U.S. EV maker plunged 81% year over year, from the 1,052 EVs recorded a year ago.
When it comes to Chinese competitors, BYD registered only 50 vehicles in Sweden last month, compared to 118 in March, while XPeng registered 98 units, up from 90 in March and 60 in April 2024.
In the premium sector, the Geely-backed Zeekr brand sold 82 vehicles, while its rival Nio sales sank nearly 87% sequentially in April to just two units.
EV Adoption
In April, 27,519 vehicles were sold in Sweden, with battery electric vehicles making up 9,283 of those — capturing 33.7% of the market.
Hybrid vehicles, including plug-in hybrids, closely followed with 9,328 units sold, accounting for 33.9%. Overall, electrified vehicles made up two-thirds of all new car sales in the country last month.
Global Results
The brand reported deliveries of “approximately 12,304” vehicles worldwide in the first quarter, a soar of 76% year over year.
In the Netherlands, April was Polestar‘s best sales month year to date, with 170 vehicles in a total of 609 units year to date. It represented a 12% increase year over year.
On the other side of the Atlantic, data from Motor Intelligence reported 460 vehicles sold in the U.S. last month, a slight increase of 2% from the same period last year.
On Wednesday, Polestar announced the delay of its 2024 annual report to mid-May, which was originally expected in April. First quarter results are expected in May as well.
