AUTO

Polestar Sales Jump 84% in Q1 2025. Revenue Up, Losses Down.

May 16, 2025

Polestar’s revenue increased by 84% year-over-year in Q1 2025, reaching $608 million.
The company achieved a positive gross margin of 6.8%, a significant improvement from a negative 7.7% in Q1 2024.
Retail sales soared by 76.5% to 12,304 vehicles, driven by higher demand for newer models.

Ever heard of a car company turning a negative margin into a positive one in just a year? Polestar did just that. In Q1 2025, the Swedish EV maker reported an 84% revenue increase, reaching $608 million, and achieved a positive gross margin of 6.8%, up from -7.7% the previous year.

Retail sales also saw a significant boost, with 12,304 vehicles sold, representing a 76.5% increase year-over-year. This surge was driven by the popularity of newer models like the Polestar 3 and Polestar 4, which offer higher margins and appeal to a broader market.

CEO Michael Lohscheller commented, “We continue to make great progress, transforming our commercial operations and taking steps to reduce our cost base.”

The company’s net loss narrowed by 31% to $190 million, and the adjusted EBITDA loss improved by 46% year-over-year.

Polestar’s financial stability is further supported by securing over $900 million in financing facilities during Q1 2025, maintaining a cash position of $732 million by the end of the quarter.

Despite geopolitical challenges and market conditions, Polestar is expanding its global footprint. The company plans to launch in France in summer 2025 and has appointed Stéphane Le Guevel as Managing Director to lead the expansion.