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Polestar Reports Q3 Retail Sales of 14,371 Cars
Polestar reports retail sales of estimated 14,371 cars in the third quarter and estimated 44,790 cars in the first nine months of 2026, both up around 1% year-on-year. Michael Lohscheller, Polestar CEO, says: "We delivered our best third quarter despite increasingly challenging market conditions. The start of Polestar 5 customer deliveries marks an important milestone for the company, while the new Polestar 4 SUV broadens our product portfolio and extends our reach to new customer groups entering the D-SUV segment, the largest and most dynamic segment in the European premium EV market."
Polestar Reports 55.3% Improvement in Q2 Net Loss
Retail sales totaled 17,296 cars, down (4.0)% YoY from 18,026 cars a year earlier. Net loss of million, an improvement of 55.3% compared to net loss of ($1,027M) for Q2 2025, is mainly due to net impairment expense of ($724M) recognized in Q2 2025. Lohscheller, Polestar CEO, said: "The operational improvements being implemented across the business are starting to show results. We cut our reported operating loss by 43% in the first half of 2026 versus last year, when a significant net impairment expense impacted our results. Working in a challenging environment, we continue to be disciplined in our execution and focused on improving the business. "Following the opening of orders for Polestar 4 SUV, production has ramped up in Busan, South Korea. The first cars have been shipped from the factory and are set to be delivered to customers during the fourth quarter. The first Polestar 5s are expected to reach customers in the coming weeks - setting us up for an exciting end to the year."
Polestar Updates 2026 Volume Guidance to Low Single-Digit Growth
The company said, "Polestar has continued to expand its retail network at pace. The upcoming launch of Polestar 4 SUV in the fourth quarter of 2026, followed by the launch of the successor to Polestar 2 in 2027, are expected to further strengthen the Company's product portfolio. Looking ahead to the second half of 2026, the market environment is expected to remain highly competitive and volatile. Polestar remains focused on delivering quality growth and is updating its 2026 volume guidance to low-to-mid single-digit volume growth from previous low double-digit volume growth. This reflects the performance in the first half of 2026 as well as the expected portfolio transition with the current Polestar 2 approaching the end of its lifecycle and the planned launch of Polestar 4 SUV in the fourth quarter of 2026. The sales mix and channel mix are expected to continue positively evolving, reflecting our stated strategy of entering fast-growing, high-value segments and growing the retail channel through the introduction of four new vehicles over a three-year period beginning in 2026."
Polestar Faces U.S. Sales Restrictions, Anticipates $211M Loss
The company said, "On June 25, 2026, Polestar announced that it was informed by the U.S. Department of Commerce's Bureau of Industry and Security of its decision to not grant Polestar an authorization under the current Connected Vehicle Rule to sell vehicles in the U.S. from model year 2027 onwards. The Company expects to continue selling previous model years in the U.S. from its inventory after which it will cease the sale of new vehicles, with its remaining activities in the U.S. then expected to focus on supporting customers in the U.S., including providing access to its service network and honoring warranty and other product commitments. As a result of the Bureau of Industry and Security's decision, Polestar has implemented a number of measures affecting its U.S. new vehicles sales operations, including actions relating to employees, dealers and other commercial arrangements. While Polestar will continue to perform certain activities in the U.S. to support its existing customers, the aforementioned actions, together with the resulting effects on vehicles and related assets, led to material adjustments that are included in the Company's interim financial statements for the six-month period ended June 30, 2026. Noting the significant judgement and subjectivity involved in arriving at these calculations, in aggregate the Company estimates that the U.S. operations increased its consolidated operating loss by approximately $211M during the six-month period ended June 30, 2026, compared to an increase of approximately $110M in the six-month period ended June 30, 2025, and that the U.S. operations increased its consolidated net loss by approximately $211M during the six-month period ended June 30, 2026, compared to an increase of approximately $104M in the six-month period ended June 30, 2025. For the three-month period ended June 30, 2026, in aggregate the Company estimates that the U.S. operations increased its consolidated operating loss by approximately $170M, compared to an increase of approximately $84M in the three-month period ended June 30, 2025, and that the U.S. operations increased its consolidated net loss by approximately $165M during the three-month period ended June 30, 2026, compared to an increase of approximately $78M in the three-month period ended June 30, 2025. Based on current estimates, approximately $130M of negative adjustments related to the U.S. operations arose as a result of the decision from the U.S. Department of Commerce's Bureau of Industry and Security and are included in the Company's consolidated operating loss and net loss for the three-month and six-month periods ended June 30, 2026. These adjustments primarily related to residual value guarantees costs, net realizable value of inventory, and restructuring provisions related to employees and suppliers/partners costs incurred in the U.S in the reporting period. While these adjustments reflect the Company's assessment of the U.S. Restructuring based on current information, further negative adjustments should be expected in future periods to reflect additional costs related to personnel and inventory as the U.S. Restructuring proceeds through its phases."
Polestar Appoints Arek Nowinski to Board of Directors
Polestar (PSNY) announces the appointment of Arek Nowinski to its Board of Directors. Nowinski is currently Head of Eastern Europe, Middle East, Africa and Asia Pacific at Volvo Cars (VLVLY) and has held several other senior sales leadership positions during his career. Nowinski replaces Francesca Gamboni, who has chosen to retire from the Polestar Board of Directors.
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