Polestar Reports Record First-Half Sales but Lowers Full-Year Outlook Amid Market Challenges
Polestar Automotive Holding UK reported record retail sales of 30,423 vehicles for the first half of 2026, driven by its Polestar 4 model and expanded retailer network. However, it revised its full-year volume growth forecast to low- to mid-single-digit due to pricing pressure and intensifying competition in the EV market. The company faces a significant regulatory setback after the U.S. Department of Commerce denied authorization for Polestar's model-year 2027 vehicle sales under the Connected Vehicle Rule. CEO Michael Lohscheller confirmed that Polestar will not appeal this decision, leading to restructuring charges estimated at $130 million and potential additional costs. Despite a 4% decline in first-half revenue to $1.36 billion, operating and net losses improved year-over-year. The company ended June with $888 million in cash after an outflow of $850 million from operations.
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Topics: automotive electric-vehicles (EVs) financial_forecast sales_performance