EV maker Polestar's full-year car sales miss forecast

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EV maker Polestar's full-year car sales miss forecast

//business-finance.news-articles.net/content/202 .. olestar-s-full-year-car-sales-miss-forecast.html

Published in Business and Finance on Thursday, January 16th 2025 at 7:20 GMT by Reuters
^{🞛 This publication is a summary or evaluation of another publication 🞛 This publication contains editorial commentary or bias from the source}

Polestar said on Thursday it sold fewer-than-expected cars and the Swedish EV maker's CEO added that it will take longer for the company to be profitable.

Polestar, the electric vehicle (EV) maker, reported that its full-year car sales for 2023 fell short of its forecast, delivering 54,600 vehicles compared to the projected 60,000. This shortfall was attributed to a challenging year marked by supply chain issues and a broader slowdown in EV demand. Despite these setbacks, Polestar remains optimistic, aiming to achieve a gross margin of 20% by 2025 and planning to launch new models like the Polestar 3 and 4. The company also mentioned ongoing cost-cutting measures and a focus on enhancing its market position amidst fierce competition in the EV sector.

Read the Full Reuters Article at:
[ https://www.reuters.com/business/autos-transportation/ev-maker-polestars-full-year-car-sales-miss-forecast-2025-01-16/ ]

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