Monday, July 22, 2024
Energy Transition Outlook Report 2023
HomeEV & BatteryPolestar Sold Almost 10,000 EVs In The US In 2022, Partly Thanks...

Polestar Sold Almost 10,000 EVs In The US In 2022, Partly Thanks To The $7,500 Tax Credit

Polestar sold 9,864 electric vehicles in the United States last year, all of them being the Polestar 2 fastback, which is currently the only model in the Volvo subsidiary’s portfolio.

Globally, Polestar sold around 51,000 vehicles in 2022, which means that roughly 20 percent of the brand’s total volume ended up in the hands of US customers. Part of this success is linked to the introduction of the $7,500 tax credit that applies to US-made EVs, but also to leased electric cars that are made outside North America.

According to Automotive News, which interviewed Polestar North America’s CEO Gregor Hembrough, the company saw an increase of around three to four percent in lease volume in mid-March, attributed to a “very competitive” 36-month lease offer that includes the commercial clean tax credit.

All in all, leases account for 60 percent of Polestar 2 deliveries in the United States, up from 40 percent a year ago, with Hembrough telling Automotive News that “We’re starting to see indicators that consumers are going back to leasing in the EV segment.”

At the same time however, Polestar dealers seem to be struggling with the lack of diversity in the brand’s lineup, with one retailer saying he is “super frustrated” by the lack of throughput.

Until the Polestar 3 arrives at dealerships at the end of this year, retailers have to make do with the brand’s single offering, the Polestar 2 fastback that admittedly got a refresh in January, which brought more power, more range, and rear-wheel drive in the base variant.

Gregor Hembrough is aware of the issue and says that the Swedish-based carmaker has taken steps to lean more heavily on marketing that highlights the $7,500 tax credit in a bid to drive more traffic to its stores.

“I know the traffic has not been what they wanted,” he said. “The handover has not been what they wanted, but at the same time, we’re looking at all these other ways that we have an influence in the marketplace, and we’re acting upon those.”

Polestar currently has 28 stores across the United States and a total of so-called Spaces worldwide. Back in January, the Geely-owned EV maker even made a showroom out of snow in Finland.

As always, we’d like to know what your thoughts are on this, so head over to the comments section below and write away.

- Advertisment -
Energy Jobline LinkedIn

Most Popular

Recent Comments