Polestar EV sales jump in Q1 on discounts like its ‘Tesla conquest’ bonus

Swedish electric vehicle maker Polestar saw its first-quarter sales jump 76% compared to the same period in 2024 after it began offering discounts and other promotions, including ones geared towards locking in Tesla owners. Polestar sold 12,304 cars in the first three months of the year compared to 6,975 in Q1 2024. Sales were relatively flat quarter-over-quarter, even amidst competition from other automakers and an uncertain economic outlook. “We are on the right track and doing the right things,” Michael Lohscheller, Polestar CEO, said in a statement. “With a more active selling model, more retail partners and attractive cars, we are delivering results.” One of Polestar’s more “active selling” strategies has been to tap into Tesla’s brand devaluation due to its CEO Elon Musk’s involvement in DOGE. The company recently started offering up to $5,000 in discounts for Tesla drivers looking to lease the company’s new Polestar 3 crossover. Polestar makes the Polestar 2 electric fastbac ... Read full article.