Polestar Hits Record H1 Sales of 30,423 Cars Despite U.S. Ban; Q2 Volumes Slip 4%

summarizeSummary

Polestar reported record first-half sales of 30,423 cars, up 0.4% year-over-year, despite the U.S. ban on future models. Q2 sales dipped 4% to 17,296 cars, but ex-U.S. growth was 3.1%. The company is expanding its retail network and preparing key model launches.

check_boxKey Events · Earnings and Guidance · PSNY

• Record H1 Sales Despite U.S. Ban

  Polestar sold an estimated 30,423 cars in H1 2026, a 0.4% increase from 30,289 in H1 2025. Excluding the U.S., sales rose 3.1% to 28,562 cars, demonstrating growth in other markets.

• Q2 Sales Decline 4%

  Q2 2026 retail sales were 17,296 cars, down 4.0% from 18,026 in Q2 2025. Excluding the U.S., the decline was 3.9%, indicating softening demand or supply constraints.

• Retail Network Expansion

  Polestar's retail sales network grew to 235 sites, a 39% increase year-over-year, supporting broader market reach ahead of new model launches.

• New Model Launches on Track

  First customer deliveries of Polestar 5 are set to start soon, and production of Polestar 4 SUV has begun, with first deliveries expected in Q4 2026. These models are crucial for future growth.

auto_awesomeAnalysis · PSNY · Manufacturing

Even with the U.S. ban on new models from 2027 casting a long shadow, Polestar delivered a record 30,423 cars in H1 2026—a 0.4% year-over-year increase. Excluding the U.S., sales grew 3.1%, underscoring resilience in other markets. Q2 sales, however, fell 4% to 17,296 cars, reflecting near-term headwinds. The company also highlighted a 39% expansion in its retail network and upcoming launches of the Polestar 5 and Polestar 4, which are critical to offsetting the U.S. market loss. Against a backdrop of going-concern warnings and recent debt-to-equity conversions, these sales figures provide a tangible measure of demand and operational progress, though the U.S. ban remains a significant overhang.