Polestar has released its 2023 delivery figures, which are a mixed bag for the luxury performance EV company. With the business only producing one important vehicle model — the Polestar 2 sedan — 2023 deliveries reached 54,600 units. And, in the fourth quarter of the year, the pace of deliveries fell significantly, falling to 12,800 automobiles (annualizing to 51,200).
Polestar even missed its own revised delivery forecast from November 2023 by over 5,000 cars - a margin of roughly 10%. Given the Polestar 2's relatively expensive pricing and the lower general demand for sedans compared to crossovers and SUVs, it's not unexpected that the firm is battling for growth. Polestar believes that its previously revised 2% gross margin will wind up being 0%, or break even, for the year.
The Polestar 3, the company's mid-size premium SUV, is still under development. When it goes on sale in the United States this summer, the automobile will cost roughly $84,000. Meanwhile, the Polestar 4, the company's first CUV, has arrived in China, with 880 units delivered until the end of 2023. When that automobile is released in the United States and Europe (in the coming months), it will be priced at $60,000 and €60,000, respectively.
To summarize, Polestar will have a lot of opportunities to gain momentum in 2024.
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