To meet their 2023 sales target of 80k they’ll need about 60% increase over 2022. Hopefully the P3 and P4 launches plus ~25% more P2 sales help them get there.

 

For many companies, the 1Q is usually the slowest, so if Polestar is reporting a 26% gain in the 1Q, compared to the 1Q of 2022, I suspect they can easily reach a 60% annual gain. With or without significant sales numbers from the P3.

But, as with all expensive purchases, a lot will depend on the state of the world-wide economy?

 

The US market is going to be tough for PS until they get their US mfg plant up and running.

The loss of tax credit is significant. Additionally, vehicles imported from China to the States are subject to steep tariffs, currently 27.5 percent. Hard to be price competitive against those headwinds, albeit their labor costs are comparatively lower.

 

The US market is going to be tough for PS until they get their US mfg plant up and running.

The loss of tax credit is significant. Additionally, vehicles imported from China to the States are subject to steep tariffs, currently 27.5 percent. Hard to be price competitive against those headwinds, albeit their labor costs are comparatively lower.

Perhaps like most other Chinese manufacturers they'll concentrate on Europe and other markets instead, or skip the US completely. I wouldn't blame them if they did.

 

Only SPA2 cars to be built in USA factory. EX90 and Polestar 3 for now and most likely EX60 is the next model. The XC (and C40) are 90% of sales in USA and the SUVs are what they want to build there.
Maybe they will scrap their estate cars, it has fallen out of fashion almost everywhere.

If Geely sometime want to get serious about North America for more than Volvo they would probably need another factory and that could in theory make all sorts of different brands based on same platform; Zeekr, Radar, Lynk, Polestar, Volvo all have cars or will have cars on SEA platform probably even Lotus.

 

Unless they establish market share quickly, I doubt the independent Polestar dealer model in the US is sustainable. Beyond the initial spaces, most remain as "coming soon".

At least where I live, Volvos are very popular, especially their SUVs. I see more late models Volvos than I do overpriced, overrated, BMWs.

The US is a BIG country where it is difficult and costly to establish a new brand. Polestar needs to leverage the Volvo reputation and dealer network they have already built here.

The new plant will help, although Polestar has inexplicably decided that for the PS3 they will only build the less expensive 2wd model. Bad move as I think buyers at this price level want all the bells and whistles rather than the rental fleet stripper version. .

I do think the PS2 is superior to Tesla offerings. However, I see where "typical" EV buyers might think otherwise. They look at the Tesla and see a car that is faster, with better range, better charging network, AND at a lower price. Leasing is a bad deal for most peoole. Kia has a better warranty. Others have better brand recognition. That is Polestars biggest US challenge.

 

I don't disagree with you at all. In the rest of the world Polestar owners can service their car at any Volvo dealer. They really screwed things in the US. Some spaces are coming soon and some spaces are the bottom of the barrel Volvo dealers. The Volvo dealer they chose in my market (Dallas) is an Infinity dealer trying to start a Volvo dealership operating out of a trailer and then trying to start Polestar on top of it. Service is shit and unfortunately I got to experience all of it. Polestar is trying to be premium in price but they need to be premium in service. I had the misfortunate of having a car die very early in my ownership. My wake up call was when I could not get a rental or a loaner. I had never before had a manufacturer/dealer have me call Enterprise to try to negotiate. WTF? After not being able to secure a loaner on a brand new car dead at 300 miles, they offered me $20/day Uber credit. How can an entity like that survive? I got to deal with this crap for good 9 months and learned a lot about things in the process. According to the tech who has been my go to guy at the Texas dealership, Polestar only pays 50-75% of the Volvo rate on any of their jobs. He makes up his money on Volvo service but that leaves no motivation to provide any type of service. Why is US trying to invent something something different? In the rest of the world, you just take your Polestar to a Volvo dealer and you are set. You don't need to fight for rentals/loaners or negotiate with rental companies. We bought an XC90 hybrid from a good Volvo dealer in town around the same town we bought a Polestar. Difference in service could not be greater. Volvo had some type of a recall for propulsion issues. They called us before we even knew about it and wanted to do a recall so we don't end up stranded. When we got to the dealership, they kept apologizing over and over for not having a plug-in hybrid loaner. Are you f-ing kidding me? I was just happy they were proactive and giving us a loaner at all and being super nice. There are 3 awesome Volvo dealers in town. The Polestar Grapevine space is an abomination. They don't answer calls, emails and managers are non-existent. Why would they choose to do business with a place like that and kick off a brand? They just need to open up service to unaffiliated Volvo dealers and scrap this crappy roll-out plan. Volvo already has very good service. Consumer gets a choices where to go. Why create a model that leaves half of the country uncovered, quarter of the country in service of a good dealer and quarter of a country in service of very horrible dealers. Why create a problem that should not be there. Just allow US Volvo dealers to service all Polestars. You get instant coverage and service. The feud with Volvo dealers is super silly. It's all about money. Open it up if you want to succeed or leave it up to Grapevines of the world to ruin your entire brand.

 

OMG, it's worse than I imagined for the US.

Today, my PS2 received sw update for the performance enhancement which IIrecently purchased. The OTA update failed and I received a message that vehicle requires service before update can be applied. I am already on 2.7 which did load OTA.

I bought my PS2 used, so I have never been to a "Space". I live in the burbs west of Philadelphia. I know there is a Space in Princeton, NJ (1 hour away) so I figure I will schedule service there. It is not convenient, but is doable. No big deal, right?

I now go to the app to schedule service. Huh, my nearest service center is in ... Manhatten, NY? I then start looking at the service FAQs. Apparently, most "Spaces" are retail locations only. I did try calling the Princeton location to confirm this, nobody answered the phone.

This is insane. I live within 20 miles of 4 different, well regarded, Volvo dealers. Manhattan is several hours, and $25 in toll roads, away. Philadelphia is something like the 4th largest city in the USA, yet people need to go into NYC for service? For the 1st time, wondering if I made a mistake in buying a Polestar.

 

Most spaces are not only retail locations, I'm not sure why you think that. Some spaces have separate retail and service locations but they're usually associated with each other and at least somewhat close by.

The manhattan location being the only available location on the app is because polestar screwed up and for some reason no spaces other than that one were added for the US (and iirc scheduling there is questionable). You need to get in touch with your local space or go through polestar's customer service instead of just assuming you need to make a trip to NY.

In fact, if you look at polestar's website for the princeton location they explicitly call out a service point for it - Polestar.com | spaces

 

Polestar to cut 10% of workforce as delays push upcoming SUV to 2024

The Swedish EV maker said its net loss narrowed dramatically compared with a year ago.

www.cnbc.com

 

 

EV Startups Are Proving Warren Buffett Right

Polestar became the latest electric-vehicle manufacturer to cut its forecast for 2023 deliveries on Thursday, sending its stock down 11%.

www.wsj.com