Polestar Q2 Sales Drop 4% as US Exit Looms, Shifts Focus to Europe
PSNY sits 55% above its 52-week low of $11.75 on light trading volume (0.1× avg).
Summary
Polestar's Q2 sales fell 4% to 17,296 vehicles, the first volume update since the US effectively banned its new models from 2027. CEO Lohscheller called the US business unprofitable and said the company will now act on the clear regulatory decision. The focus is pivoting to Europe, which accounted for 80% of first-half sales, and refreshing existing models rather than launching new ones. This follows the June 25 US ban and the recent $640M debt-to-equity conversion that improved the balance sheet. The sales decline and strategic retreat confirm the material impact of the US exit, with shares down over 3% on the news.
At the time of this announcement, PSNY was trading at $18.19 on NASDAQ in the Energy & Transportation sector, with a market capitalization of approximately $2.8B. The 52-week trading range was $11.75 to $42.60. This news item was assessed with negative market sentiment and an importance score of 8 out of 10. Source: Reuters.