Polestar sales rise in 2025 as Europe becomes main market
Polestar reported higher sales in the fourth quarter of 2025, with retail volumes rising 27% year over year to 15,608 vehicles. Full-year 2025 retail sales totaled about 60,119 vehicles.
Europe accounted for about 78% of Polestar’s sales over the past year, as conditions in the United States and China became more challenging due to weaker demand and stronger competition.
The company has shifted away from an online-first, direct-to-consumer approach toward a dealer-led model. Its sales network expanded by more than 50% during 2025, excluding China.
Polestar also closed its physical retail sites in China. U.S. tariffs weighed on margins and drove supply chain changes, including shifting production locations to Europe and South Korea.
In December 2025, Polestar announced a $300 million equity investment from Banco Bilbao Vizcaya Argentaria and Natixis, with $150 million from each institution, alongside a planned conversion of about $300 million of Geely-related debt into equity. Polestar also secured a subordinated term loan facility of up to $600 million through Geely Sweden Holdings AB, with the final $300 million subject to lender consent based on future liquidity needs.
Polestar carried out a change in its American depositary shares (ADS) ratio from 1:1 to 1:30 in December and later received notice that it had regained compliance with the Nasdaq stock exchange’s minimum bid price requirement.
A strategy update covering product updates and financial outlook is scheduled for February 18, 2026.
