Polestar Reports Q2 Revenue Miss and Decline in Retail Sales
Polestar Automotive Holding reported second-quarter revenue of $1.36 million, significantly below the expected figure by $876.74 million and down 4.2% year-over-year. The company sold a total of 17,296 cars during the quarter, representing a 4.0% decline compared to 18,026 units in the same period last year. As of June 30, Polestar held approximately $888 million in cash reserves. The results highlight ongoing challenges for the company as it continues navigating market conditions and production demands typical within the automotive sector.
Tickers: $PSNY
Topics: automotive financial_results