Polestar Nears US Sellout of 2026 Models as Ban Looms, Q3 US Sales More Than Double
PSNY is trading near its 52-week low of $5.45 (5.1% above the low).
Summary
Polestar is close to selling out its remaining model year 2026 cars in the US, CEO Michael Lohscheller told Reuters. US sales more than doubled to about 2,160 units in Q3 from 966 a year ago, driven by the final push before the Commerce Department ban on new model year 2027 vehicles takes effect. Excluding the US, retail sales fell 8%, and the company has pivoted to Europe with the Polestar 5 now in customer deliveries and Polestar 4 SUVs arriving at European ports. This follows the Q3 sales report earlier today and the September guidance cut. Third-quarter results are due November 5.
At the time of this announcement, PSNY was trading at $5.73 on NASDAQ in the Energy & Transportation sector, with a market capitalization of approximately $921.3M. The 52-week trading range was $5.45 to $29.10. This news item was assessed with positive market sentiment and an importance score of 7 out of 10. Source: Reuters.