Polestar has announced its Q4 2024 and full-year retail sales and order intake figures. The company delivered 12,256 vehicles in the fourth quarter, marking a 5.3% year-over-year increase from 11,640 units in Q4 2023. However, total retail sales for 2024 declined by 15% to 44,851 units, compared to 52,796 in 2023.
Despite this, there were some encouraging signs in the data. One of those was the surge in order intake, which rose by 37.2% in Q4 2024 compared to the same period in 2023. For the full year, order intake was up 37.9% year-over-year, reflecting strong interest in the company’s expanding model lineup.
The Polestar 3 SUV and Polestar 4 crossover accounted for 56% of all orders in Q4, highlighting the potential for growth with these new offerings beyond the Polestar 2 sedan.
| Q4 2024 | Q4 2023 | Change (%) | Full Year 2024 | Full Year 2023 | Change (%) | |
| Retail Sales | 12,256 | 11,640 | +5.3% | 44,851 | 52,796 | -15% |
Polestar’s Q4 announcement also introduced changes to how the company defines its global sales volumes. Retail sales now represent vehicles sold directly to end customers rather than billed units, aligning Polestar with industry norms.
Historical figures have been revised to reflect this change to make future comparisons more accurate.
This shift in methodology comes amidst broader organizational changes. Michael Lohscheller, who assumed the role of CEO in October 2024, has initiated a strategic overhaul to address challenges such as cost management and reporting delays. Lohscheller’s leadership has already shown positive results, with Q4 retail sales and order intake indicating growth.
Despite promising indicators, Polestar faces significant hurdles. The 15% decline in full-year sales highlights lingering execution challenges, particularly in converting orders into deliveries.
Polestar’s Q4 performance also points to production and supply chain constraints. The gap between the growth in order intake and actual sales suggests that scaling up production to meet demand will be a critical focus in 2025.
Polestar’s upcoming strategy update on January 16, 2025, will shed more light on its roadmap to address these challenges, as the company seeks to capitalize on its strong order book and growing product lineup.
